Recently, the price movement of Cardano (ADA) has attracted widespread attention in the market. From a Technical Analysis perspective, ADA is currently in a critical price range, which may indicate the direction of the upcoming trend.

On the 4-hour chart, ADA has formed a double top pattern, and the price may pull back to the support area between $0.774 and $0.723. This range happens to be the bottom of the previous consolidation area, and there is also significant trading volume support. If the price can stabilize within this range, it may become the starting point for a new round of upward movement.

From the daily chart perspective, ADA has broken through a large descending trend line, which is typically seen as a signal that a mid-term trend may be reversing. If subsequent price movement can confirm this breakout, then ADA's price is expected to challenge higher levels.

According to the Fibonacci extension indicator, the potential target price in the future may fall between $1.61 and $1.76, and it could even reach $1.91. However, this optimistic expectation is predicated on ADA being able to hold steady in the critical range of $0.82 to $0.85. If this support is confirmed, coupled with a significant increase in trading volume, then ADA may experience a substantial surge.

Although some pullbacks may occur in the short term, as long as the price can hold the support range of $0.72 to $0.77, the upward trend in the medium term is still worth looking forward to. For investors who intend to participate, they can consider gradually building positions when the price pulls back near the support level, or waiting for the price to stabilize above $0.85 before taking action.

It is important to note that the cryptocurrency market is highly volatile, and investors should carefully assess risks and conduct thorough research before making any decisions.