Cardano Price Surges 30% in Week, Expert Predicts New All-Time High

Cardano's price has surged by 30% over the past week, breaking out from a consolidation phase below the $0.6 level. Prior to this surge, the altcoin had been trading sideways within the $0.5 to $0.6 range. This recent price movement suggests that Cardano may be at the beginning of a significant rally over the coming months.

An on-chain expert, Joao Wedson, founder and CEO of Alphractal, shared a bullish outlook for Cardano on the social media platform X. Wedson identified an ascending channel pattern on the daily Cardano price chart, which he believes indicates a sustained long-term bullish trend. This pattern is characterized by two rising trendlines: an upper line acting as resistance and a lower line acting as support. Traders often use this pattern to identify optimal entry and exit points, as the price typically bounces off these trendlines.

According to Wedson's analysis, Cardano has been trading within this ascending channel since the first half of 2019. After falling to the lower trendline earlier this year, the price of ADA rebounded to above the $1 level in the first quarter of 2025. However, the altcoin, along with the rest of the crypto market, experienced a severe downturn in late June, causing the Cardano price to return to the lower trendline. Despite this, the token's price has since found support and is recovering.

Wedson's projection suggests that Cardano's price could surpass its current all-time high of $3.09 in this phase. According to the analyst, the ADA token could be trading well above the $3 mark by late October or early November 2025. Wedson also noted that the current level might be an opportune time for investors to enter the ADA token, as it is still in the distribution phase in the short term. He concluded that while this might break some technical analysis patterns, the on-chain analysis looks promising in several aspects.

As of the latest update, the price of ADA stands at around $0.7124, reflecting a nearly 6% increase in the past 24 hours. This positive single-day action underscores the general bullish sentiment surrounding the altcoin over the past few days. According to data from CoinGecko, the ADA coin is up by roughly 30% in the last seven days.