Cardano flashing bullish signals - next stop $1.88?
Although the majority of assets in the cryptocurrency market are struggling with increased volatility, Cardano (ADA) is showing renewed bullish momentum after a stretch of subdued price action, and the next major leg higher could take it near $1.88.
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Indeed, ADA’s technical structure has remained intact and may be signaling a new uptrend phase, which could take Cardano to $1.88, provided it breaches the crucial resistance at $0.90, according to an analysis shared by renowned crypto trading expert Ali Martinez on October 15.
Specifically, the chart shows ADA forming a large symmetrical triangle pattern, a structure that often precedes sharp directional moves. As it happens, the price has been steadily coiling between the converging support and resistance lines since early 2025, with a key support trendline holding firm near $0.65. Each retest of this lower boundary has met buying pressure, hinting at growing accumulation beneath the surface.
How high can Cardano go?
Now, according to Martinez’s Fibonacci extension levels, a confirmed breakout above the 0.786 Fibonacci retracement at $0.958 could open the path toward $1.28 and eventually the 1.272 extension level near $1.86, which would be roughly a 160% rally from current prices around $0.70.
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For the time being, Cardano is changing hands at the price of $0.7033, indicating a 2.8% gain in the last 24 hours, against the backdrop of a 14.38% decline across the previous seven days and an accumulated dip of 18.33% on its monthly chart, per the most recent data.
Overall, ADA’s technical structure remains neutral until a decisive breakout occurs. Bulls will be watching for a close above $0.90 to confirm the upward bias, while bears may attempt to defend that level and force another retest of the $0.65 – $0.70 range.
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