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
Bitmine gets promoted to the NYSE main board! Tom Lee: US stocks may have bottomed out, and sell pressure on Ether could ease
Bitmine has officially moved from the NYSE American board to the main board, marking an important milestone for the company. Despite the sharp decline in its share price, it has still increased the share repurchase plan amount to $4 billion. The company holds a large amount of Ethereum, and it expects that a rebound in the crypto market will help boost its assets and share price performance.
CryptoCity1h ago
Why Is Bitcoin Up Today? Hormuz Blockade Triggers Short Squeeze and a BTC Test of $75k
On April 13, Bitcoin rose from its early-session low of 70,741 to trade as high as $74,900 during the session, approaching the $75,000 level. The main drivers came from two directions: after Trump ordered the blockade of the Strait of Hormuz, traders began to view Bitcoin as a geopolitical hedge asset; and a massive net short position that had been building as funding rates stayed persistently negative was met with liquidation, triggering a chain of liquidations totaling millions of dollars near the $70,000 support level.
MarketWhisper2h ago
Bitmine gets promoted to the NYSE main board! Tom Lee: U.S. stocks may have bottomed out, and Ether’s selling pressure may ease
Bitmine has officially moved from the NYSE American board to the main board in the United States, marking an important milestone for the company. Despite a sharp drop in its stock price, it has still increased its share repurchase authorization to $4.0 billion. The company holds a large amount of Ether, and it predicts that a rebound in the crypto market will help boost its assets and stock price performance.
CryptoCity4h ago
U.S. stocks have recovered the losses since the Iran war, while Bitcoin pushes up to 74K
Due to market expectations that the United States and Iran will reach an agreement, the S&P 500 index has rebounded to its highest level since the war, and Bitcoin has also surged to $74,900. Despite the failure of peace talks between the U.S. and Iran, the U.S. has imposed a maritime blockade to pressure Iran. MicroStrategy once again made a large-scale purchase of Bitcoin, indicating that investor confidence is picking up.
ChainNewsAbmedia4h ago
BTC 15-minute surge up 0.77%: Spot buy-side demand and on-chain activity convergence drive short-term strength
2026-04-13 22:00 to 2026-04-13 22:15 (UTC), the BTC price fluctuated upward within 15 minutes, with a return of +0.77%. The high and low prices in the range were between 73178.0 and 73899.0 USDT, and the amplitude was 0.99%. During the event, market attention increased, volatility slightly intensified, and overall sentiment leaned positive.
The main driver behind this price deviation was active spot market buy orders stepping in, which pushed the BTC price higher in the short term. The number of active addresses on-chain remained at a high level, reflecting an increase in genuine trading demand. Trading volume was higher than in the previous period,
GateNews5h ago
