#Cardano has surged over 135% in the past three weeks, rising from $0.37 to $0.87. The breakout from a falling wedge pattern suggests potential for further gains, with a key resistance level at $0.89. If $ADA converts this resistance into support, the pattern projects a 155% rally toward $2.30. However, a failure to hold above $0.89 could lead to a retracement within the wedge.


Market indicators show mixed signals. The RSI suggests overbought conditions, but a golden cross between the 50-day and 200-day EMAs could attract more buyers. Rising open interest (up to $1.74 billion) and a 72% increase in Cardano DeFi TVL (now $400 million) may support bullish momentum.


An upcoming audit report in mid-August could also influence ADA price. If bullish factors align, the $2.30 target could be achievable by Q3 2025. However, broader market conditions and profit-taking remain risks.


#SpaceX #Strategy

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July 22, 2025 at 3:43 PM
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