Cardano (ADA) may be setting up for a notable price move, with chart patterns pointing to a potential upside of up to 30%. This comes even as the broader crypto market remains under selling pressure.
At the time of writing, ADA was trading at around $0.354, down 1.23% over the past 24 hours. The token has stayed in the red despite signs of technical consolidation.
According to analyst Ali Charts, Cardano is forming a triangle pattern on the hourly chart. This pattern typically signals a tightening price range that can lead to a breakout in either direction.
If ADA breaks upward from this formation, the initial target sits near $0.38. Such a move would represent a gain of about 7% from current levels.
The $0.38 level is seen as a key resistance zone. A clear breakout above it could open the door for a larger rally toward the $0.48–$0.50 range, implying nearly 30% upside.
Cardano entered its current range after dropping to a low of $0.345 on Jan. 19. Momentum indicators suggest consolidation may continue in the short term before a stronger directional move appears.
Beyond price action, Cardano has seen steady network progress. The blockchain has surpassed 118.4 million total transactions, and the Leios team recently released a new mempool visualizer to study network behavior.
In other developments, Cyber Hornet has filed for an S&P Crypto 10 ETF that includes Cardano. Founder Charles Hoskinson has also hinted at new integrations expected later this month, adding to longer-term optimism around the project.
