Cardano Eyes Major Breakout as Analysts Predict $2.87 Target Amid Bullish Channel Formations

Cardano maintains a bullish structure within its third ascending channel, backed by rising buyer interest in accumulation zones.

ADA's recent drop to $0.667 mirrors past breakout pullbacks, with analysts eyeing $2.87 as a long-term target amid strong channel support.

RSI shows oversold signals as ADA tests $0.650–$0.667 support, with recovery above $0.700 needed to regain short-term bullish momentum.

Cardano (ADA) is displaying indications of a significant breakout pattern that is reminiscent of earlier bullish cycles. ADA is still in a crucial ascending channel and is responding similarly to previous breakouts, according to cryptocurrency analyst Javon Marks. Currently trading close to $0.667, the asset has previously shown brief drops following breakouts before exploding. Keeping a positive stance, Marks projects a long-term price goal of $2.8735. This confidence is bolstered by consistent ascending channel patterns that span from 2021 through a predicted 2027 timetable, which have allowed ADA to maintain higher lows over a number of years.

Source: Javon Marks

Ascending Channel Patterns Reinforce Market Structure

Three primary ascending channels define Cardano’s long-term trajectory. The first formed during the 2021 bull run, where prices surged near $3.00. After a retracement, ADA established its lower support trendlines, shaping the foundation for future channels.

The second channel emerged during 2022 and 2023. Prices respected defined support and resistance levels, maintaining an upward bias despite broader crypto market corrections. This channel underscored accumulation phases, which later led to bullish moves.

Currently, the third channel began forming in late 2023. It continues to guide ADA's price movements through its parallel trend lines. Moreover, the chart includes green accumulation zones, showing heavy buyer interest at channel lows. Conversely, red zones highlight areas of high selling pressure near tops. Consequently, ADA’s structure remains technically strong.

Recent Volatility Suggests Key Support Retest

Meanwhile, recent price action shown by analyst Sssebi reflects heightened volatility. ADA rallied from $0.450 in April to highs of $0.850 in May 2025. This sharp move displayed strong market participation, confirmed by rising volume. However, June brought a reversal. Selling pressure increased and pushed the price down toward $0.667.

Source: Sssebi

Additionally, technical indicators point to possible oversold conditions. The Relative Strength Index (RSI) fell sharply, suggesting downside momentum may slow. Support appears solid around the $0.650-$0.667 range. However, ADA must reclaim $0.700 to regain short-term strength. Moreover, crypto analyst Av_Sebastian highlights the need for a daily green candle to avoid deeper RSI drops. A failure here could pull ADA toward $0.60. Conversely, a bounce may drive it back toward $0.75.

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