Experienced market analyst Quantum Ascend remains confident in his projection that Cardano has reached a bottom and will rally from here to a double-digit price.
Cardano Nears Bottom
His analysis featured ADA’s trend within a channel in the weekly timeframe. This structure has contained the coin’s price since 2018, with a trend in an ABCD pattern.
Notably, ADA currently trades within the D-wave, which is corrective, bringing the price to the lower support of the wedge. While Cardano briefly dropped below the trendline, the recent bullish price move has pushed it back into the wedge, signaling strength.
Quantum Ascend insisted that the corrective wave was nearing its end and that a blastoff would follow. He expects the E-wave to be super-bullish, taking the coin to the tip of the rising wedge, aligning with a 24x rise to a new all-time high of $10.4.
Even in a conservative scenario, ADA could rise to $5, representing a 12x, or 1,182%, increase from the current market price of $0.39.
Similarities With 2020 Correction
Further backing his belief that ADA may start its next impulsive move is its similarity to the 2020 correction. He pulled out the retracement structure to the channel’s lower support in 2020, when it reached a low of $0.017, and compared it to the current trend.
This showed an imperfect correlation between the two years, with the analyst stressing that ADA is about to reverse to the upside as it did after the 2020 low.
Cardanos Current Correction Shows Similarity With 2020Again, he identified that the current drawdown has completed an ABC correctional move, strengthening his conviction that the bottom is not far off. According to him, the ongoing rebound could be the start of the bullish push to new all-time highs.
Weekly Oscillator Look Juiced
Meanwhile, he identified another signal that ADA would reverse from here. Specifically, the weekly Stochastic RSI oscillator has formed a pattern that historically kick-started a price rally for the tenth-largest cryptocurrency by market cap.
The market watcher noted that the RSI is beginning to coil up as it did in 2020, which preceded the push to its current all-time high of $3.10. The Stoch RSI moved from under 25 to near 100 during the run, and a similar momentum is building currently.
Additionally, he noted that the MACD is signaling bearish exhaustion, as the red bars have been receding. A bullish crossover to the upside would also confirm the reversal momentum, spurring the E-wave rally to $10.4 in a bullish case and $5 in a conservative scenario.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Michael Saylor: Bitcoin’s winter is over; institutional and sovereign adoption could fuel the next uptrend
Gate News message, April 25 — Michael Saylor, co-founder of MicroStrategy, said "winter's over" as Bitcoin climbed to approximately $78,000, signaling a shift in market sentiment.
According to analyst Mati Greenspan, recent market moves since the flash crash have been corrections within a broader bull market, with Bitcoin's bottom now in place. Greenspan believes the next leg of gains will be driven by "sovereign adoption," including central banks adding BTC alongside gold to their reserves.
Governments and institutions are increasingly incorporating Bitcoin into their holdings. The U.S. government currently holds approximately 300,000 BTC and has discussed establishing a strategic Bitcoin reserve. El Salvador continues making daily purchases, while the U.K. government and several U.S. state pension funds have added Bitcoin to their asset allocations.
GateNews1h ago
SHIB Reserves Hit 61.8T Amid Mixed Signals of Selling Pressure and Accumulation
Gate News message, April 25 — Shiba Inu's on-chain metrics reveal diverging market forces as a major CEX's SHIB reserves climbed to 61.8 trillion tokens, while simultaneously around 86 billion SHIB moved out of exchanges. Data from CryptoQuant shows the reserve increase began around mid-March and
GateNews2h ago
SHIB Nears Breakout Point After Revisiting Powerful Support Level
SHIB revisits a key support zone that previously triggered major price rallies.
Price compression and accumulation signals suggest a potential breakout ahead.
Analysts project strong upside, though market conditions may limit extreme gains.
Shiba Inu has returned to a price level that on
CryptoNewsLand5h ago
PEPE Price Outlook: The Case for a Surprise ‘Disbelief Rally’ Ahead
PEPE shows weak sentiment with falling price, volume, and Open Interest.
Heavy short bias may trigger a surprise rally through liquidation clusters.
Range-bound price suggests a possible trap before continuation of bearish trend.
PepeCoin — PEPE, has taken another hit, and sentiment
CryptoNewsLand6h ago
Crypto Fear and Greed Index Drops to 30, Signals Panic State
Gate News message, April 25 — The Crypto Fear and Greed Index currently stands at 30, down 8 points from yesterday, according to Coinglass data. The seven-day average is 33, while the 30-day average is 18, indicating a shift toward panic sentiment in the
GateNews8h ago
Not Too Late Yet: Altcoins Eye Rapid Move Ahead of Economic Uncertainty — 5 Picks Investors Are Watching
Market rotation is splitting attention between meme coins and infrastructure-driven blockchain projects.
TAO and FIL reflect stronger alignment with emerging tech and data infrastructure narratives.
DOGE and SHIB remain primarily driven by retail sentiment and short-term volatility
CryptoNewsLand11h ago
