Cardano price is trading at $0.55 today, June 27, with a slight 0.19% decline in 24 hours. Despite the dip, the fundamentals are showing strength after the network’s Total Value Locked (TVL) exploded to a four-month high of $431 million after wrapped ADA launched on the Base network. A falling wedge pattern formation also signals that the altcoin could be on the verge of a 30% rally.
Cardano Price Eyes 34% Rally as Bullish Pattern Holds
ADA has been trading within a falling wedge pattern for nearly two months with a series of lower highs and lower lows. As the downtrend continued, the price consolidated within a falling wedge pattern, signalling that selling pressure gradually eased, giving room for a potential recovery.
To confirm the bullish outlook of this double-bottom pattern, the Cardano price has to overcome resistance at the upper trendline. Making a series of three decisive candlestick closes above this resistance level with higher highs will confirm the bullish reversal that this pattern often portrays.
A bullish breakout will trigger a 34% ADA price rally to the potential target of $0.79. However, this bullish leg will depend on buy-side activity, and currently, the MACD is flashing a buy signal. The signal emerged after the MACD line converged with the signal line.
In case the MACD on ADA’s daily timeframe confirms a decisive crossover with the signal line and moves to the positive side, it will confirm the much-needed breakout from the falling wedge resistance.
The AO histograms support the above bullish Cardano price forecast. Despite remaining below the zero line, these bars have turned green, indicating that the bearish momentum causing Cardano’s consolidation within the falling wedge is weakening. This further supports the likelihood of an over 30% rally.
Cardano’s TVL Explodes 70% After Base Integration
CoinGape recently reported that Coinbase launched wrapped ADA on Base to boost DeFi capabilities for the Cardano network. This integration appears to be having a positive impact on Cardano’s network TVL.
According to DeFiLlama data, Cardano’s network TVL has surged by 70% within 24 hours from $253 million to $431 million at press time. This metric is currently at its highest level since early March, which weakens the recent bearish outlook towards price after ADA’s active addresses fell.
Looking at the TVL in terms of ADA tokens, more than 778 million Cardano tokens have been locked on the network. This is the highest TVL recorded by the blockchain.
This data signals massive network growth that will likely be reflected in the performance of the Cardano price. It may also be the catalyst to support an upward 34% swing from the falling wedge.
30-day MVRV Signals Bottom
With the bullish technical structure holding and eyeing an upward breakout while network activity is rising, the 30-day Market Value to Realized Value (MVRV) ratio signals that the Cardano price is approaching a local bottom.
Per Santiment data, this MVRV is at -10.82%, indicating notable losses for the investors who have held the altcoin for the last 30 days. Looking at previous trends, such a dip has always presented an opportunity for ADA price recovery.
In February 2025, the MVRV dropped below -10% and Cardano shot up from $0.64 to $1.12 within a short while. In April 2025, a similar dip in the ratio triggered a price increase from $0.55 to $0.65.
Therefore, the emergence of multiple bullish signs around the Cardano price signals that the altcoin could be on the verge of a strong recovery. The surging TVL and the bullish on-chain data signal that an over 30% rally from the falling wedge pattern could be imminent.
