TLDR

• Cardano held $0.80 support while Coinbase reserves increased from 1.7 million to 9.6 million ADA tokens.
• Chart analysis shows symmetrical triangle pattern with key resistance at $0.96-$1.02.
• Breakthrough above $1.02 could open path to $1.30, $1.50, and extended target of $1.90.
• Analyst Javon Marks identifies repeating bull cycle pattern with potential target at $7.82.
• First upside objective sits at $2.77, representing over 221% gain from current levels.

Cardano price maintained support above $0.80 this week while exchange data revealed a sharp increase in token holdings. Market analysts identified key chart patterns that could determine the next move.

Data from Coinbase showed ADA reserves climbed from approximately 1.7 million to nearly 9.6 million tokens over recent weeks. This fourfold increase indicates growing interest from larger market participants.

Analyst Mintern noted that reserve buildups of this magnitude typically precede sentiment changes when technical charts display higher-low patterns. The accumulation occurred as Cardano defended the $0.80 price zone.

Market participants have established $0.80 as a critical support boundary during the current consolidation phase. Trading activity concentrated around repeated tests of this level often signals preparation for a directional move.

Technical Pattern Points to Potential Expansion

The token has formed a symmetrical triangle on higher timeframes, characterized by converging trendlines as price highs decline and lows rise. This pattern typically resolves with a strong directional break when volume increases through the boundary.

Ali Martinez stated the technical outlook remains constructive as long as ADA avoids closing below $0.80. A confirmed break above resistance could trigger expansion from the current range.

The immediate resistance zone sits between $0.95 and $0.96, where previous rallies encountered selling pressure. A daily close above this area would mark the initial breakout signal.

Trader CW8900 identified $1.02 as the validation level. This price point aligns with multiple rejections from earlier in the year and represents the upper boundary of a distribution zone.

Multi-Stage Target Framework Emerges

Breaking above $1.02 would shift market structure from range-bound conditions to trending behavior. Analysts have mapped several potential targets beyond this level.

The first objective sits at $1.30, corresponding to previous distribution activity. The second target rests at $1.50, a psychological round number that intersects with measured-move projections from the triangle pattern.

An extended projection reaches $1.90 by adding the triangle’s height to the breakout point. These targets serve as reference points contingent on sustained volume.

Defensive support zones remain well-defined. The market has respected $0.80 multiple times, with a secondary cushion near $0.75 providing backup if volatility increases.

Historical Pattern Analysis Suggests Larger Move

Crypto analyst Javon Marks draws parallels between current price action and Cardano’s previous bull cycle. He notes that ADA broke through key resistance during the last market cycle and subsequently achieved three primary price targets.

Marks observes the same curved breakout formation appearing on current charts. This technical similarity leads him to project a potential rally phase developing.

His analysis identifies $2.77 as the first major target, representing a 221% increase from present levels. If the historical pattern fully repeats, Marks projects Cardano could reach $7.82, an 800% gain.

The analyst emphasizes that current price action continues tracking toward these targets, mirroring behavior from the previous breakout period. Large-holder activity through exchange reserves supports the thesis for upward movement.

A confirmed breakout requires expanding volume and sustained closes above trigger zones. Weak volume often produces false breaks that reverse into the established range.

Analysts currently monitor the $0.96-$1.02 band as the decisive zone separating consolidation from trending conditions for Cardano price action.