ADA Does the Double Bottom Boogie: Eyes Locked on $5 as Falling Wedge Gets Squeezed

Cardano's putting on a chart show, and the technicals are worth a look. ADA popped 7.15% in the past 24 hours—second-best performer in the top 15 by market cap. While Bitcoin reclaimed $71,000 as part of the broader bounce, ADA's own weekly chart is flashing some interesting signals. The sleeping giant might finally be waking up, or at least stretching.

An analysis from "GoTX" highlights two major reversal signals on ADA's weekly chart. Both point toward a potential new expansion phase for the altcoin. For those keeping score at home, this is the kind of setup that makes chart watchers dribble a little.

The first pattern is a textbook double bottom. The chart shows ADA finding support in the same demand zone twice—three years apart. The first bottom hit in June 2023, with ADA dropping to $0.2200 after grinding down from its 2021 peak of $3.10. The second bottom formed in February 2025, retesting those same lows and dropping to $0.2205. That's almost an exact retest of the June 2023 low. ADA bounced from there and currently trades around $0.262—about 19% above that support zone. Three years of pain, one beautiful retest. Between the two bottoms, ADA recovered to $0.810 by March 2024, then pushed to this cycle's peak of $1.320 in December 2024. Bears stepped in after that, dragging price down through $1.020 in August 2025 before the February retest. Classic bull flag behavior, if you're into that sort of thing.

The second reversal signal is an imminent breakout from a falling wedge that's been forming since June 2025. The pattern shows lower highs and lower lows compressing the price action. Squeezed like a lemon, as the degens say. The move from $1.320 in December 2024 down to where the wedge began was corrective wave (A). Wave (B) relief rally pushed ADA from $0.510 to $1.020 in August 2025. Another corrective wave (C) completed the pattern, dropping ADA to the second bottom at $0.2205. Now ADA's trading within that wedge but approaching the neckline resistance. This week's 4.7% rise has price closing in on the breakout point. The moment of truth approaches.

A breakout would target $5 as the new all-time high. That's a potential 1,801% surge from current prices around $0.263. The target aligns with the 1.618 Fibonacci extension. On the way up, key resistance sits at $3.160 and $2.037—matching the 100% and 61.8% Fibonacci levels respectively. To the moon? Maybe. To $5? We'll see.

The double bottom and wedge patterns are the charts saying what the bulls want to hear, or is there something more to it? The data's on the table. Place your bets, degens.