- Analysts identify $0.62 as a critical turning point where Cardano could begin a major rally toward higher Fibonacci targets.
- The symmetrical triangle pattern signals tightening pressure that could soon lead to a breakout above long term resistance.
- ADA traders focus on strong support near $0.62 as rising volume hints at renewed bullish interest across the market.
Cardano (ADA) is hovering around a decisive price level near $0.62, which analysts say could determine its next major direction. According to a recent chart shared by Ali Charts, ADA must hold this level to maintain its bullish structure and pave the way for the $1.90 resistance zone. The price has repeatedly tested this threshold, suggesting strong support but also indicating the risk of a potential breakdown if momentum wanes.
The chart, published on October 21, 2025, illustrates a large symmetrical triangle pattern that has been forming since early 2024. This setup signals the end of a long consolidation phase that could soon result in a decisive breakout. For ADA, this pattern historically represents a pivotal turning point, where price compression often precedes substantial directional movement.
Market data shows ADA currently trading near $0.6426, down roughly 2.96% over the last 12 hours on Binance’s perpetual contracts. The formation’s lower trendline coincides with the 0.618 Fibonacci level, reinforcing its significance as a make-or-break point for bullish traders.
Triangle Pattern Indicates Growing Pressure Before Breakout
The symmetrical triangle on Cardano’s 12-hour chart reflects months of narrowing price movement, suggesting increasing tension among buyers and sellers. This pattern’s apex is approaching, typically signaling that volatility could return as traders position for the next leg. Analysts often view such setups as precursors to strong expansion phases, where prices can either surge sharply or decline swiftly, depending on the breakout direction.
If ADA maintains the $0.62 support and breaks above the upper boundary, Fibonacci projections indicate key upside targets at $1.12, $1.36, and eventually $1.90. The projected path on the chart follows a dotted line, suggesting a gradual climb, with small retracements marking each resistance checkpoint. The upper Fibonacci extensions align with prior consolidation highs, providing realistic profit-taking areas during a sustained bullish move.
However, if ADA loses support at $0.62, analysts warn of potential dips toward $0.58 or even $0.50, where the next historical support lies. This would invalidate the current ascending structure and shift sentiment toward a bearish continuation phase. Maintaining the triangle’s lower boundary remains essential to sustaining the broader bullish narrative that has been building since mid-2024.
Analyst Outlook and Market Expectations
According to Ali Charts, ADA’s current pattern represents a rare opportunity for traders seeking early entries before a potential rotation higher. The analyst’s post gained strong traction across the crypto community, drawing over 22,000 views and sparking widespread technical debate. Many traders agreed with the $0.62 level’s importance, calling it the “EMA50 flip zone” that could determine the strength of the next bullish leg.
Other analysts, including contributors from Altcoin Pi and OSYRO, shared similar views, noting that Cardano’s structure remains technically solid if it closes the week above $0.62. They highlighted that a successful defense of this level could pave the way for $0.78 and set the stage for a mid-term rally toward $1.90.
Technical commentary suggests that ADA’s performance at this price juncture will likely mirror Bitcoin’s macro trend, as both assets have recently traded in correlation. Traders are closely observing Bitcoin’s stability near $63,000, as a breakout there could amplify ADA’s upward momentum. As Cardano approaches the apex of its triangle formation, one question remains — will the $0.62 level hold long enough to ignite a breakout past $1.90?
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