- Cardano price is holding key support near $0.65, aligned with a multi-year bullish channel.
- Analysts target a $1.20 resistance level, with some predicting a $5–$10 ADA price breakout this cycle.
- The development report revealed 2,002 Cardano projects and over 134,000 smart contracts in progress.
Cardano (ADA) price is testing a critical price zone near $0.65, sparking renewed interest from both traders and long-term holders. According to analysts, the current support area for ADA price is between $0.60 and $0.40. If Cardano’s development and technical factors continue to improve and it keeps above current support, the top altcoin could experience a major rally.
Cardano Price Holds Key Support Zone Between $0.60 and $0.68
Analyst Crypto Patel assessed that for Cardano price, $0.40–$0.60 is the area where smart investors usually begin buying.
After hitting $0.65 recently, ADA price is now trading at $0.67, making it a good time to buy. The zone coincided with a long-term ascending channel that Cardano price has followed for years.
Patel pointed to the next resistance range of $1.00–$1.20. Breaking through this resistance level could enable prices to climb toward up to $5 or $10 in the longer run. He believes that the existing market situation is ideal for Cardano’s upcoming rally.
Additionally, Mr. Brownstone argues that by hitting $0.65, ADA fits his previously defined “target box,” adding further proof of a bullish sentiment. Based on his Elliott Wave analysis, he thinks ADA is nearing the end of wave 4, setting it up for wave 5, which should move prices up. He had warned traders to set alerts for the ADA price at $0.65 to buy ADA before it goes up again.
Technical Chart Shows Rebound Potential
The consistent growth in ADA shows it is now supported by solid historical trends. On the weekly chart, ADA price is recovering from the bottom of a trend that has been in place for years. If the pattern maintains itself, bulls might prepare a push toward $1.20 after this wave.
However, according to Brownstone, the market could be experiencing a triangular correction. He expects a temporary fall below $0.65, from which the ADA price is likely to enter an upswing stage. This trend matches what is going on overall in the market as other altcoins are looking for ways to regain their earlier losses.
Even while the volume is consistent, it appears that more people are buying and holding, not selling. Analysts think a price rise above $0.65 supports the bullish trend in the short run.
Data Shows Cardano Network Growth Momentum
The rise in Cardano is being supported by continuous development. The Input Output development report shared on May 30 stated the network is supporting 2002 building projects, 134,286 smart contracts, and over 10.81 million native tokens. These figures reflected week-over-week growth in key ecosystem metrics.
Recent updates feature better Leios simulations, added support for Plutus core tooling, and improvements in how smart contracts function. Interestingly, the use of Catalyst worldwide is rising, as shown by the interactive map and successful meetings with developers in Mexico.
The figures in the report indicate Cardano handled over 109.98 million transactions and had over 1.33 million active delegated wallets at the time. Cardano is confirmed as an active and popular layer-1 platform that supports its long-term price growth.
Cardano Price Prediction: Key Levels to Watch
If ADA price breaks through the $1.00–$1.20 resistance, traders may target the $5–$10 range projected in multiple bullish models.
Patel explained that such a move fits the trend of regular expansions in the crypto space and increased functionality on Cardano’s blockchain. A strong hold on the $0.65 level is essential, with a clear surge in volume above $1.20 indicating a rise.
Even with all the important data pointing higher, the risk of wider changes remains a risk factor. Analysts are expecting signs of rejection near $0.70 that could reduce price increases. However, for current prices to keep rising, the main supports must stay strong.
