Bitcoin News Today: ADA breaks key resistance with 23.3% weekly gain sparking bullish optimism

Cardano’s ADA has broken above a key resistance level after months of consolidation, sparking renewed optimism among traders and analysts. The price has surged past a descending channel that had constrained its movement since early 2024, with volume confirming the strength of the breakout. At the time of analysis, ADA was trading at $0.9881, reflecting a 23.3% weekly gain and suggesting the potential for further upward momentum [1].

According to technical analysis provided by trader Smith, ADA has been forming a rounded base since early 2023, marking a prolonged accumulation phase. This structure culminated in a decisive breakout that could signal the beginning of a multi-month bullish trend [1]. The price now faces critical resistance near $1.00, with sustained closes above this level seen as confirmation of a long-term trend reversal.

Smith outlines a clear path for ADA’s potential upside, beginning with targets at $1.20 to $1.30, followed by a major goal of $3.10—a 220% increase from the breakout level. Weekly charts show a formation of higher lows, reinforcing the notion that ADA may be entering a new bullish cycle. Volume has also increased during the breakout, suggesting growing buyer confidence [1].

However, key support levels remain crucial for the continuation of the bullish setup. Analysts emphasize that holding the $0.80–$1.00 range is essential to maintain the trend. A drop below $0.80 could invalidate the breakout and push ADA back into consolidation. Smith specifically warned that a breakdown below $0.80 would signal a false move and potentially lead to a deeper correction [1].

Market observers like XForceGlobal have noted that ADA may have already completed a higher-degree wave two pattern. From this point, they anticipate that dips will become shallower as nested 1-2 structures begin to take shape. This technical view aligns with broader expectations that ADA could be entering a multi-leg upward movement [1].

Meanwhile, analyst Sssebi has highlighted ADA as one of the few top 10 crypto assets with potential for 5x–10x returns in the current market cycle. With Bitcoin and Ethereum seeing strong inflows from institutional investors, capital is expected to rotate toward mid-cap assets with higher growth potential, with ADA leading the list [1].

At press time, CoinGecko data showed ADA trading at $0.9543, down 5.21% over the past 24 hours but up 20.71% for the week. The price remains in a critical juncture, where maintaining support in the $0.80–$1.00 range could open the door to further gains. If ADA manages to break and hold above $1.00, it could trigger additional buying interest and validate the $2.00 price target outlined by analysts [1].

While the projected 220% surge is based on technical analysis and analyst forecasts, it is important to note that such predictions remain speculative and subject to market conditions. The broader crypto environment is also supportive, with Bitcoin and Ethereum seeing significant gains driven by ETF inflows and growing institutional adoption [5].

Cardano has historically faced challenges in keeping pace with faster-moving competitors, but recent price action and whale accumulation suggest improving sentiment. With a maturing ecosystem and growing institutional interest, ADA’s potential for a multi-month rally has become increasingly tangible [9].

Source:

[1] https://blockonomi.com/cardano-nears-key-resistance-as-ada-price-targets-220-surge/

[5] https://www.coindesk.com/markets/2025/08/13/bitcoin-holds-near-usd120k-ether-rallies-towards-usd4-7k-on-trump-s-comment-fed-rate-cut-bets/

[9] https://coindoo.com/why-cold-wallets-5-91m-presale-2m-users-4900-roi-projection-may-outpace-cardano-dogecoin-in-q3/