Cardano News Today: Bitcoin's Waning Grip Sparks Cardano's $1.90 Bull Run

Cardano (ADA) has emerged as a focal point for traders and analysts amid a shifting macroeconomic landscape and Bitcoin's recent surge above $120,000. Crypto analyst Investing Broz highlighted ADA's technical breakout as a bullish signal, projecting a price target of $1.90 in the coming weeks if momentum holds. This forecast is anchored in ADA's confirmed breakout above a long-standing resistance level, a pattern that had remained unbroken since March 1, 2025. The analyst noted that this move coincides with Bitcoin dominance falling below critical support levels, historically a precursor to altcoin season rallies.

The technical analysis underscores a falling wedge pattern that developed over weeks, signaling a potential trend reversal. By measuring the height of this formation and projecting it forward, Investing Broz calculated a $1.90 price target. While this level may be ambitious for a summer timeframe, the analyst emphasized that it is "absolutely doable," particularly given ADA's current price of $0.7447 and the confluence of technical strength, historical resistance flips, and volume surges. The LuxAlgo indicator suite further reinforced the bullish outlook, flashing a weekly buy signal marked by a green reversal, rising momentum, and positive money flow.

Bitcoin's performance remains a critical catalyst for ADA's trajectory. The analyst linked ADA's rally to broader market dynamics, noting that Bitcoin's dominance has historically dictated altcoin cycles. "This is just one more egg in the basket of potentially altcoin season coming very soon," Investing Broz stated, citing the correlation between Bitcoin's price action and altcoin volatility. While ADA is not the only altcoin showing breakout behavior-Ono and HAR were also highlighted-its alignment with Bitcoin's momentum positions it as a standout in the current environment.

Short-term price targets and risk management considerations were also outlined. Investing Broz provided a near-term range of $1.00 to $1.80, with $1.80 serving as an immediate watch level for traders. Beyond this, a golden pocket Fibonacci extension points to a key level of $2.42 by year-end. However, the analyst clarified that these are not long-term cycle targets, emphasizing that ADA's full-cycle potential could extend to $7–$10 by 2026 or 2027. Volatility warnings were also issued, with the analyst advising traders to secure gains at key levels like $1.80–$2.40 and remain cautious of potential pullbacks amid inherent market fluctuations.

The broader market context suggests ADA's success will depend on both its internal momentum and the timing of altcoin season. At press time, ADA faced key resistance at $0.88 and $0.93, with bulls needing to hold above $0.83 to maintain upward momentum. While the $1.90 target is contingent on broader macro conditions, the analyst framed ADA's breakout as a tradable event for those prepared to capitalize on short-to-intermediate-term opportunities.

Source: [1] Cardano Flashes Major Buy Signal-$1.90 Target Unleashed (https://www.newsbtc.com/news/cardano/cardano-flashes-major-buy-signal-1-90-target-unleashed/)