Cardano (CRYPTO: ADA) is gaining momentum after weeks of tight consolidation, with technical charts signaling a potential 50% breakout toward $0.92.
ADA price action signals path toward $0.92 target
Cardano Price Action (Source: TradingView)
ADA trades near $0.645 on Friday, holding just above a narrowing wedge pattern on the 4-hour chart.
The setup suggests the token is coiling for a decisive move.
Price has flipped the $0.64–$0.65 band into support and is attempting to reclaim the 50-EMA near $0.67.
A breakout above this zone could target the 200-EMA at $0.73, followed by the $0.90–$0.92 resistance range.
If confirmed, the move would represent nearly a 50% gain from current levels.
Failure to maintain support near $0.62 would invalidate the bullish setup.
Exchange outflows highlight tightening Cardano supply
ADA Netflows (Source: Coinglass)
Exchange data from Coinglass shows $8.6 million in net outflows on Oct. 24.
The reduction in reserves indicates tokens are moving off exchanges.
Daily Chart Strengthens Bullish Case
ADA Price Dynamics (Source: TradingView)
On the daily timeframe, ADA is holding the $0.62–$0.64 accumulation zone.
Liquidity remains concentrated below $0.60, forming a solid base for buyers.
The Parabolic SAR has started flattening, suggesting that bearish momentum is fading.
A daily close above $0.67–$0.70 would confirm a momentum reversal, setting sights on $0.73 and eventually $0.92.
If price breaks below $0.62, however, traders could see ADA retrace toward the $0.50 liquidity pool before finding new demand.
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