Saad Ullah
Cardano (ADA) is sitting at a make-or-break moment that has traders buzzing. With ADA trading near crucial resistance levels, the next few weeks could decide whether we're heading for another explosive rally.
Current Price Action and Key Levels
The weekly chart is showing a setup that looks eerily similar to ADA's last major breakout, and according to Crypto Kid, we might be about to see history repeat itself this October-November.
ADA is currently trading at $0.8952, showing a modest +0.82% gain for the week. The price has been grinding against a long-term descending trendline that's been capping rallies since early 2024. The key resistance sits right at $0.95 - that orange descending trendline everyone's watching. Break above that level, and things could get interesting fast. On the downside, there's solid support around $0.75, with stronger backing near $0.65 if bears really take control.
What's got traders excited is the measured move projection. If ADA manages to break out like it did before, we're looking at a potential rally toward $1.50. That would be a repeat of the massive +270% surge we saw during the last breakout cycle.
Why This Setup Has Traders Paying Attention
The chart patterns don't lie, and right now ADA's weekly setup is almost a carbon copy of what we saw in late 2023 before that explosive move higher. Cardano has this weird habit of making its biggest moves in Q4, usually kicking off somewhere between October and November. It's like clockwork, and that seasonal pattern is adding fuel to the bullish fire.
The broader market context isn't hurting either. Bitcoin's been holding steady, and there's renewed interest flowing into altcoins. ADA, being one of the major Layer-1 projects with a solid community behind it, is perfectly positioned to catch that wave if momentum really shifts into high gear.
Here's how this could play out. Bulls need a weekly close above $0.95 to really get this party started. Hit that level, and $1.20 becomes the next logical target, with $1.50 as the moonshot projection. But if resistance holds firm, we might see a pullback toward that $0.75-$0.65 support zone, which would just delay the eventual breakout until later in Q4.
Saad Ullah
