Usman Salis
Cardano (ADA) is back on traders' radars after months of quiet accumulation. The weekly chart shows a market that's found its footing and is starting to flex some serious strength.
ADA's Technical Setup
A recent analysis by Mintern suggests the blockchain project could be gearing up for a sharp rally toward $2.00 - much faster than most people expect.
The weekly chart tells a compelling story. After that brutal drop from over $3.00 in 2021, ADA has been quietly building a foundation around the $0.25 bottom. We're seeing higher lows form consistently, which usually means smart money is accumulating while everyone else isn't paying attention.
The key Fibonacci levels everyone's watching:
- $0.80–$1.00 as the first major hurdle to clear
- $1.50 as the next big target
- $2.00 as the cycle milestone that matters
RSI and MACD are both flashing green after months of sideways action. That's typically when things get interesting.
What's Driving ADA's Strength
It's not just chart patterns driving this optimism. Cardano's been quietly building behind the scenes with network upgrades, DeFi growth, and community governance that's actually working. While Bitcoin stays strong and altcoins start showing life, ADA is positioned to catch the wave when it breaks.
Here's the thing - if Cardano punches through that $1.00-$1.20 resistance zone with real volume behind it, the path to $1.50 and then $2.00 opens up fast. The $2.00 level isn't just technical - it's psychological. Once that breaks, momentum could accelerate quickly.
Cardano's setup looks solid both technically and fundamentally. Sure, there are risks - resistance could hold, macro conditions could shift, or volume might not show up when needed. But right now, ADA is shaping up as one of the altcoins to watch. The $2.00 target that seemed impossible six months ago is starting to look very possible indeed.
Usman Salis
