The Cardano value has experienced a thrilling surge over the past few days, achieving a considerable breakthrough from consolidation below the $0.6 mark. Prior to this recent price increase, the altcoin had been fluctuating predominantly sideways within the $0.5 and $0.6 spectrum.
Notably, the Cardano price appears to be merely at the outset of what is anticipated to be a spectacular rally in the upcoming months. A cryptocurrency analyst on the social media platform X has introduced an intriguing path toward unprecedented price peaks for the ADA token.
ADA In Distribution Phase — Ideal Buying Moment?
In a July 11 update on X, Alphractal founder & CEO Joao Wedson presented an exciting optimistic outlook for the Cardano price in the coming months. The on-chain specialist proposed the $4.9 threshold as the market peak for the ADA token in its next upward movement.
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This daring forecast is founded on a consistent upward channel pattern displayed on the daily Cardano price graph. An ascending channel is a chart pattern in technical analysis distinguished by two principal (increasing) trendlines: the upper line serving as the resistance level and the lower line functioning as the support level.
Usually, the space between these trendlines is recognized as a channel within which prices fluctuate over a period—while indicating a persistent long-term bullish trend. Traders frequently utilize this pattern to pinpoint ideal entry and exit points, as the price typically rebounds off the upper resistance line and lower support trendline.
As shown in the above chart, the Cardano price has been operating within the ascending channel since the early months of 2019. After dipping to the lower trendline earlier this year, the ADA price quickly found support and bounced back above the $1 level in the first quarter of 2025.
However, the altcoin — similar to the broader cryptocurrency market — faced a significant slump that resulted in the Cardano price falling back to the lower trendline in late June. Interestingly, it seems the token’s price has found support and is on a steady recovery.
Wedson, in his message on X, indicated that what the Cardano price is experiencing is more than a simple recovery; the altcoin could exceed its current all-time high of $3.09 during this phase. According to the on-chain expert, the ADA token may trade well beyond the $3 mark by late October or early November 2025.
Moreover, Wedson mentioned that the current conditions may represent the perfect moment for investors to acquire the ADA token, as it remains in the distribution phase short-term. “This may disrupt some technical analysis patterns, but the on-chain metrics appear promising in various aspects — and that’s what I appreciate,” he concluded.
Cardano Price Overview
At the time of this writing, the ADA price is approximately $0.7124, reflecting nearly a 6% increase in the past 24 hours. This positive daily movement highlights the overall bullish sentiment surrounding the altcoin in recent days. According to data from CoinGecko, the ADA coin has risen by about 30% in the last week.
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Featured image from Pexels, chart from TradingView
