Cardano (ADA) is facing an opportunity to rise to $1.19 as the technical model shows a clear bullish signal.

The price of Cardano (ADA) has once again become the focus of attention after it strongly reclaimed the important support zone at $0.78, accompanied by a significant increase in trading volume. If the upward trend continues to push the price beyond the threshold of $0.88, analysts believe ADA could extend its breakout momentum, aiming for a potential target at $1.19.

Notably, this positive outlook arises at the same time that Cardano's founder – Mr. Charles Hoskinson – emphasizes that ADA not only has a strong technological foundation but also has the potential for superior growth compared to Bitcoin.

Cardano regains the $0.78 mark

The price of ADA has surged strongly from the accumulation zone of $0.74–$0.77 after several weeks of sideways movement, indicating that buying pressure is returning to the market. Previously, this area was a formidable resistance zone, but it has now turned into solid support – a positive signal for the upcoming trend.

This increase comes amid a significant rise in trading volume, along with a stable closing level above $0.77. This is seen as the initial signal for a new growth cycle of ADA.

According to technical analysis expert Tom Tucker, reclaiming the $0.77 mark is a key factor in restoring the bullish structure that was disrupted during the July correction. He points out that this recovery momentum originates from the $0.72 zone – which is considered the neckline of the inverted head and shoulders pattern.

The decisive break of this pattern has opened up room for ADA to aim for higher targets, initially at the mark of $0.88 and further at the zone of $1.19.

Daily ADA/USDT Chart | Source: This upward trend is further strengthened as the trading volume on spot exchanges continues to rise sharply. Since the beginning of July, ADA has continuously established higher lows, forming an ascending triangle pattern on the 4-hour timeframe – a signal that bears are in control.

If this trend continues and the price surpasses the resistance level of $0.88, then the zone of $1.19 will become the next target in the market's sights.

Analysts are closely watching the breakout scenario above the $0.88 level.

Many analysts believe that the current price action of ADA is reminiscent of the accumulation phase before the strong breakout in 2021. In a detailed analysis video, expert Dan Gambardello pointed out that the price structure of Cardano is repeating the growth pattern from the previous cycle.

According to Gambardello, the $0.88 threshold is currently the "last hurdle" to overcome before ADA can unleash a stronger bullish trend. He emphasizes that to trigger a price surge towards the $1.50 mark, ADA needs to close above the $0.88 level with significant spot buying volume.

Sharing a positive outlook, the Minswap account also published a technical analysis showing that ADA has officially broken out of a long-term downtrend channel. His chart clearly indicates that this altcoin has surpassed the resistance line of the channel since mid-July and is currently retracing to test this zone as a potential support.

ADA/USDT daily chart | Source: XAs long as ADA maintains its price structure above the $0.76 mark, this testing phase is expected to serve as a stepping stone for a new uptrend, with the immediate target being the $1.19 zone.

Charles Hoskinson defends the value of Cardano compared to Bitcoin

In a recent interview with Jason Yanowitz, Charles Hoskinson – the founder of Cardano – continued to emphasize the view that Cardano possesses a superior technological platform compared to Bitcoin.

Hoskinson describes Cardano as an advanced blockchain platform designed with a focus on scalability, decentralized governance, and real-world applicability. According to him, not only does it possess more advanced technology, but Cardano also has the ability to adapt flexibly to various use cases, something that Bitcoin is still limited in.

He also shared about the increasingly strong presence of Cardano in Asian and African countries - regions that are actively embracing the decentralized model that this network brings.

Another highlight revealed by Hoskinson is that Cardano's development model allows for the rapid deployment of improvements while still maintaining security – a key factor in the blockchain ecosystem.

With the ongoing regular network upgrades, he believes that the solid fundamental factors of Cardano will soon play a more important role in driving the value of ADA.

Will the price of ADA go up to $4?

In a noteworthy development, analyst Smith recently shared the long-term price chart of Cardano, showing that the classic "cup and handle" pattern is almost complete.

His chart records an accumulation phase that has lasted since 2022, with signs of a breakout beginning to appear in early 2025. Currently, the handle part of the pattern is gradually forming around the $0.92 threshold – considered an important neckline.

ADA/USDT chart on a 2-week timeframe | Source: XAccording to Smith, if ADA can decisively break through this resistance level, the coin could enter a parabolic growth phase, targeting up to $4 – equivalent to an increase of more than 4 times the current price.

He also believes that the accumulation phase of the "whales" has ended, as reflected by the ADA balances on exchanges remaining stable, while the number of active on-chain wallets continues to increase.

Reinforcing the optimistic outlook, the DeFi ecosystem of Cardano has recently surpassed the milestone of 100 million USD in total value locked (TVL) thanks to a strong growth wave recently.

Alongside that, on-chain activities have increased with the growing expectations of ADA's ETF approval, creating a new wave of confidence among investors, further fueling the potential for a price breakout in the near future.

SN_Nour