Cardano (ADA) Technical Analysis: Weekly Chart Breakdown Targeting $1.02

Cardano has approved a major 70 million ADA allocation to support critical infrastructure. The decision, backed by DReps and the Constitutional Committee, demonstrates the network’s commitment to strengthening its ecosystem. This move reflects careful planning and a focus on long-term growth for Cardano and its community.

The funding will be used for projects that improve network stability and scalability. By approving this withdrawal, Cardano is taking concrete steps to enhance its operations. Stakeholders now look forward to seeing these initiatives in action, which could make the network more efficient and encourage wider adoption of ADA in real-world use cases.

Also Read: Cardano (ADA) Tests Critical Support: Is a Rally Toward $1.14 Possible?

ADA Faces Bearish Pressure Amid Stalled Recovery

From a technical perspective, the ADA weekly chart remains structurally bearish after failing to reverse the 2021 macro downtrend. The 2024–2025 recovery stalled below prior highs, and the price now trades near $0.39, clearly under the 20-week SMA at $0.62. Momentum favors sellers unless ADA regains $0.62, then challenges higher resistance near $0.90–$1.02.

All major chart targets are well defined. Resistance targets lie at $0.45–$0.50, $0.62–$0.65 (20-week SMA), $0.90–$1.00 (upper Bollinger Band), and $1.20+ (macro supply). Support targets include $0.38–$0.40 (current), $0.30–$0.32 (range base), and $0.23–$0.25 (lower Bollinger Band).

Source: TradingView

For bearish charts, primary targets point to a prediction of a continuous move from $0.38 to $0.30, with further decline to $0.23 in case of rising volatility. The neutral range outlook for WEC FX targets a range of $0.35 to $0.60. In bullish reversals, targets for a close above $0.62 open up movements to $0.90-$1.02, with further gains possible only above.

Projected upside targets rely on momentum

According to the crypto analyst @TheMoonHailey, the following can be seen in the chart: Cardano is seen to be completing multiple cycles in the market. There was a strong bull run in 2017-2018, a deep bear market, accumulation phases, and a strong phase of growth in 2020-2021. After the peak, ADA is seen to be in another bear market, but it has broken through the downtrend resistance in 2023.

Source: @TheMoonHailey

Taking into consideration the symmetry identified in the last cycles regarding resistance levels, other targets include $1.20 to $1.40 (mid-cycle resistance), $2.00 to $2.30 (previous supply zone), and the key macro target at $2.96 to $3.00. The following target charts assume higher highs with momentum based on full bull market action, as opposed to action for a short period of time based on volatility.

Also Read: Cardano (ADA) Holding Critical Zone: Is a Breakout to $0.61 Possible?