Cardano Forms Massive Inverse Head and Shoulders as ADA Targets $12–$13 Neckline

Cardano forms a massive inverse head and shoulders with neckline resistance near $12–$13.

ADA trades at $0.8702 with support at $0.840 and resistance levels at $0.8920 and $0.940.

Fibonacci extensions project ADA targets at $1.28, $2.15, $5.67, and $7.50 if momentum continues.

Cardano (ADA) is currently forming a massive inverse head and shoulders structure on its price chart. This technical pattern has been linked to potential bullish continuation, as it reflects corrective troughs followed by upward moves. At the time of writing, ADA was trading at $0.8702, showing steady participation.

Cardano Price Structure and Resistance Levels

According to analysis prepared by TapTools, Cardano’s chart shows repeated wave structures with corrective phases before upward movement resumes. The inverse head and shoulders formation is marked by three troughs, with the deeper central trough forming the head and the outer ones forming the shoulders

The neckline aligns around the $12–$13 resistance zone, which has consistently acted as long-term resistance. Historical movements indicate that ADA has established higher lows across each cycle, reinforcing the ongoing structure of this pattern. Price action suggests that the right shoulder has completed, and ADA is moving upward toward the neckline

Source: BigBullMike7335(X)

Trading volume has remained consistent during this consolidation phase, confirming sustained market interest at current levels. According to an observation by BigBullMike7335, Fibonacci extensions point to potential targets at $1.28, $2.15, $5.67, and $7.50 if upward momentum continues.

Market Indicators and Key Levels

Technical indicators present mixed conditions for ADA’s short-term movement. The hourly MACD shows momentum building in the bearish zone, while the RSI has fallen below 50, indicating stronger selling pressure

Support is currently placed near $0.840, with further levels at $0.825 and $0.780. A break below $0.825 could expose ADA to the $0.80 range. On the upside, resistance sits near $0.8920 and $0.940, with $1.00 marked as a psychological level. If ADA closes decisively above $0.940, the price could advance toward $1.05

Volume trends confirm activity during recent swings, suggesting traders are monitoring these levels closely. The long-term projection remains connected to the neckline breakout, which could validate the full inverse head and shoulders structure.

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