Cardano (ADA) Price Prediction: Bullish Flag Breakout Could Propel ADA Prices Higher

A recent chart suggests a bullish flag breakout that could lead to higher prices.

Cardano is gaining momentum with the possibility of a breakout above a key resistance level. A recent chart suggests a bullish flag breakout that could lead to higher prices.

Analyst Lucky Luciano, for instance, spotted a technical pattern that may suggest a bullish flag breakout on the one-day chart of Cardano.

Analyst Luciano Spots Potential ADA Bull Flag Breakout

“Seems like we’re heading in the right direction with some heat on this one-day chart of Cardano. They’re cleaning out this fib zone, and now we’re seeing a move above the flag on good volume with a bit of a squeeze.

According to the technical analysis, the projected target range for ADA lies between $1.13 and $1.32. These levels correspond to the height of the previous rally and the measured move expected from a successful bullish flag breakout.

However, the $0.31–$0.40 zone remains a strong historical support area. This range marked the beginning of the last significant ADA rally and may provide a cushion in the event of a retracement.

Gambardello Risk Model: Cardano Bull Market “Hasn’t Even Started”

In a similar analysis, crypto analyst Dan Gambardello shared a new risk chart showing Cardano’s current long-term risk level at 37, marked as a “Moderate Buy.” The chart highlights two major ADA rallies in late 2017 and early 2021, both preceded by similar low-risk zones.

According to the model, Cardano is now in a comparable position, with an upward red arrow suggesting a potential breakout.

“The Cardano bull market hasn’t even started,” claimed Gambardello, suggesting that ADA may soon mirror past explosive gains.

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