Cardano Breaks Out of Falling Wedge
ADA’s falling wedge began forming in early March 2025 and lasted until April 23, when the price broke above the resistance line, confirming a bullish breakout.
A falling wedge is a bullish reversal pattern. It forms when the price moves between two downward-sloping trendlines that converge. Each successive high and low is lower than the one before it, but the lows decline faster than the highs. This narrowing range signals weakening bearish momentum. A breakout above the upper trendline usually indicates a trend reversal and the start of a new upward phase.
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At the time of the breakout, ADA traded near $0.62. As of April 25, 2025, the price reached $0.7215, marking a 16% increase. This breakout also pushed ADA above the 50-day exponential moving average (EMA), currently at $0.6856. Crossing this moving average adds further bullish confirmation.
Meanwhile, volume surged to 9.56 million on breakout day, signaling strong interest. The Relative Strength Index (RSI) is now at 61.47, well above the neutral 50 mark but below overbought conditions. This indicates continued upside potential without immediate exhaustion.
The price target for a falling wedge is calculated by taking the height of the wedge and projecting it from the breakout point. The vertical line in the chart marks this height. Applying this to ADA’s breakout suggests a target around $1.16. That means Cardano could climb another 60% from its current level.
If ADA holds above the 50-day EMA and the wedge resistance line, the setup remains valid. Any fall below $0.68 could invalidate the breakout.
Cardano Whale Wallets Rise Again—Signs of Accumulation Return
Following a brief decline, whale activity around Cardano (ADA) shows early signs of a shift. As of April 24, the number of wallets holding between 1 million and 10 million ADA rose to 2,408—up from 2,405 on April 22. This rebound comes after a drop from 2,421 on April 20.
This small rise signals renewed interest from high-value holders after a short distribution phase. Although the change is minor, such movements from whales often carry outsized impact. These large wallets, by controlling a significant share of supply, can sway price direction with even small adjustments in behavior.
Tracking wallets in this range matters because whale accumulation typically reflects rising confidence. When major holders add to their positions, it often precedes upward price action. On the other hand, if they reduce holdings, it may suggest caution or preparation for a downturn.
Now that the count has edged up again, the shift could point to fresh accumulation. If the trend persists, it may support ADA’s price stability or further upside in the near term.