thecryptobasic.com
06 October 2026 12:09, UTC
Bitcoin analyst with 1.9M X followers, Lucky Luciano, believes Cardano ($ADA) price is preparing for a major rally after breaking out of a long-term downtrend.
“In my opinion, $ADA is setting its tone for another parabolic run,” Luciano wrote on October 5, sharing an $ADA/USDT daily chart.
The chart shows $ADA price breaking above a downward trendline that had been in place since September 2025. After months of trading around a key support area, $ADA finally moved above the trendline.
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At the time, $ADA was trading near $0.27, up about 5% for the day. Meanwhile, Luciano’s chart points to a potential target around 60% higher.
$ADA has already started showing stronger momentum. The token recently moved above $0.1387 and traded around $0.276 on October 6, opening the door to $0.30 as the rally advances.
Luciano’s chart shows $ADA in a long-term downtrend that started after its highs in mid-2025 around $1.0165. The price continued falling before finding support in a demand zone at $0.1387 in June after a massive dip of 86%.
Meanwhile, $ADA then broke above the downward trendline, marking a shift in the trend. Cardano moved above $0.26 in September, extending its recovery from the lower prices recorded during the summer. With $ADA price hitting $0.2759 this week, the coin has recovered by over 90%.
Notably, other indicators confirm the improving momentum. As of today, Cardano’s daily chart on TradingView showed $ADA trading above its 50-day and 200-day moving averages. The MACD is also bullish, while the RSI is close to 70, confirming strong upward momentum.
Now, $ADA’s next major test is the $0.28-$0.30 range, a key resistance area. A breakout above this zone opens the path toward $0.39, representing about a 40% increase from the levels cited in that analysis.
Meanwhile, a weekly chart analysis identifies $0.23–$0.27 as critical support. Holding this zone would preserve the bullish setup, while a breakout above the $0.30–$0.40 resistance area could signal further upside.
Accordingly, the next major targets would be $0.80 and $1.30. Clearing both opens the path toward $3.10, near $ADA’s previous all-time high. However, a weekly close below $0.14 would invalidate the bullish setup.
Cardano is currently around $0.2733, up 1.41% in 24 hours, 9% over the past week, and 22% over the past month.
Interestingly, many analysts are becoming increasingly ambitious as $ADA’s price continues to improve, with some already calling for $5 and $10 highs.
