Cardano (ADA) surges 19.5% in 24 hours, eyes $2 target

Cardano (ADA) has been gaining significant momentum, with its price action accelerating towards a critical resistance area. Over the past week, the asset has experienced notable growth, drawing attention to a potential breakout. Traders are pointing to a familiar pattern forming, with historical data suggesting a sharp move could follow.

Currently, Cardano is trading at $0.7473, marking a 19.5% rally in the last 24 hours. The past seven days have seen a 29.57% increase in price, driven by breakout momentum. ADA’s chart indicates that the asset is breaking out from a symmetrical triangle, a pattern historically known to precede strong rallies. Javon Marks noted that Cardano is following a clear pattern of higher lows and lower highs, forming repeated triangle structures. Each breakout in the past has triggered a substantial move upward. The current breakout appears to be following the same script, with price action suggesting early stages of a continuation toward the $2 level.

Cardano is now testing the 50-week exponential moving average (EMA), a level that previously triggered massive rallies. Crypto analyst Mintern pointed out that ADA surged 212% and 128% the last two times it crossed this level. If this pattern holds, ADA could see an extended rally toward $1.77 or beyond. These levels are gaining importance as traders watch closely for confirmation of trend continuation. A clean move above the EMA could set the stage for exponential growth. The bullish structure forming on the weekly chart supports this projection.

ADA has consistently respected support levels along the lower bounds of triangle patterns. Each bounce from support has led to renewed upward momentum. The breakout now underway has seen a noticeable uptick in volume, often viewed as confirmation of trend strength. Momentum indicators such as RSI also suggest increasing buyer activity. These signs point to the continuation of ADA’s current rally, provided the asset holds above breakout levels. Traders are focusing on whether the move sustains above $0.75 in the coming sessions.

Cardano’s recent price activity has reignited market interest, especially among altcoin watchers. The pattern forming across its multi-week structure is drawing comparisons to past rallies. With crypto markets showing broader strength, ADA appears positioned to lead among large-cap assets. If momentum holds and key levels are breached, the projected $2 target may become more than speculation. As the bullish trend continues to unfold, all eyes remain on Cardano’s next move.