Cardano’s $3 Breakout: Is This the Bullish Signal We’ve Waited 4 Years For?
Cardano's price is teasing a major breakout—could $3 finally be in play after four years of sideways action?
The Setup:
ADA's chart flashes its most bullish signal since 2021. Traders are circling like sharks scenting blood in the water.
The Math:
Hitting $3 would require a 2.5x surge from current levels. Not impossible in crypto-land, where 'impossible' gets redefined every bull run (and where 'fundamentals' are just something to ignore until the next crash).
The Catch:
This isn't 2017 anymore. Retail traders now compete with algorithmic whales who eat 10% swings for breakfast. One thing's certain—if ADA nails this move, the 'I told you so' tweets from Cardano maximalists will be unbearable.
ADAUSDT Chart in Weekly Timeframe. Source: TradingView
The last time this bullish pattern formed, cardano price rallied more than 1000% to hit an all-time high of $3.10. ADA price could rally again to this level, supported by massive trading volumes and positive developments related to Cardano.
One such development to support the massive uptrend has already happened. The U.S. SEC approved Grayscale’s Digital Large Cap Fund conversion into an ETF that contains Bitcoin (BTC), ethereum (ETH), Ripple’s XRP, Solana (SOL), and Cardano (ADA).
Notably, Grayscale also filed to convert its cardano Trust to ETF, tracking the spot ADA price. The SEC deadline to approve the ETF is in October, with Bloomberg analysts anticipating 90% odds of approval.
Cardano price rebounded to $0.558 following a 2% fall in the past 24 hours. The 24-hour low and high are $0.538 and $0.567, respectively. Furthermore, the trading volume has slightly decreased by 1% in the last 24 hours.
Also Read: Cardano Needs Executive Voice to Lead Bitcoin DeFi: Hoskinson
