Cardano Targets $2.40 as ADA Price Moves Within Bullish Wedge Pattern Brenda Mary | usagoldmines.com

TLDR:

• Cardano (ADA) trades within a broadening wedge pattern formed since mid-2022.
• $0.38 trendline remains key support after recent pullback.
• Analysts project a $2.40 upside if breakout structure holds.
• Social metrics show rising ADA chatter across crypto platforms.

Cardano (ADA) is showing signs of a potential breakout as analysts monitor its long-term ascending wedge formation. Despite a recent pullback, the crypto asset remains within a structure that has historically triggered strong upward moves. 

Attention is now on whether this retest of support can fuel another rally. 

Meanwhile, activity around Cardano on social platforms has surged, signaling growing market interest. Combined, these factors suggest ADA may be gearing up for a renewed push toward higher price levels.

Cardano (ADA) Price Pulls Back to Key Support

The current structure guiding ADA’s market behavior is an ascending broadening wedge, observed since mid-2022. 

According to chart analysis by Bitcoinsensus, Cardano is now revisiting the lower trendline of this wedge, a level that has held firm in prior corrections. Each previous touch near this base, around $0.38, has sparked sharp rallies.

#Cardano ready for a massive move up$ADA has been moving inside this ascending broadening wedge channel throughout this bull market.

It is now in the process of coming back down to retest the lower end of the channel before moving higher.

Next Price Target : 2.40$ pic.twitter.com/GopBc9iWts

— Bitcoinsensus (@Bitcoinsensus) June 19, 2025

ADA’s recent decline to this trendline is not unexpected within the pattern’s context. Analysts view this as a potential setup for continuation within the broader uptrend. At press time, ADA trades around $0.60, still above the critical support zone.

Cardano Analysts Point to $2.40 as Next Target

The upper boundary of the wedge appears to align with the $2.40 region, now cited as a key upside target, according to the chart by Bitcoinsensus. 

Based on previous bounces, analysts estimate that a rally from the current range could reach this level. The wedge has remained intact for nearly three years, supporting its technical relevance.

This projected move represents an approximate 550% increase from the local low near $0.38. If the wedge structure continues to guide ADA’s movement, such a surge would remain within the pattern’s historical behavior.

The wedge’s broadening shape reflects growing volatility, a common feature in ADA’s market action. Each upward and downward swing has grown in size, consistent with the widening channel. 

Despite short-term retracements, the broader trend remains upward as long as support holds.

Over time, the price has consistently respected both the top and bottom trendlines, which analysts say reinforces market confidence in this pattern. ADA’s behavior suggests that bulls remain active at major support levels.

Social Sentiment Around ADA Builds Momentum

On-chain analytics from LunarCrush reveal ADA’s growing visibility across crypto discussions. 

Cardano’s share of social voice recently reached its second-highest level in a year, climbing to 2.7% of total market conversation. This rise in engagement follows a quiet stretch and may indicate renewed interest among retail and institutional watchers.

Cardano’s share of voice across crypto social channels is spiking, now at its second highest level in the past year, reaching 2.7% of total market-wide discussion.

This surge in $ADA social dominance suggests renewed attention from the market, often a leading indicator of… pic.twitter.com/rqdbTihooP

— LunarCrush Social Insights (@LunarCrush) June 20, 2025

While increased attention does not guarantee price movement, such sentiment shifts have historically preceded new trends. Market observers are closely watching whether the buzz translates into buying pressure.

At press time, Cardano is trading at $0.6024, reflecting a modest 24-hour gain of 0.53%. Over the past week, however, the coin has dipped by 5.35%. Yet, in the context of the larger wedge formation, this correction remains within normal range.

If the lower trendline near $0.38 continues to act as support, ADA may be positioning for a major breakout. Traders are now focused on whether the next upward swing will confirm the target near $2.40.

The post Cardano Targets $2.40 as ADA Price Moves Within Bullish Wedge Pattern appeared first on Blockonomi.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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