Cardano (ADA) Is Showing Same Price Structure as Last Cycle
Main Idea
Cardano (ADA) is exhibiting a price structure similar to its 2021 bull run, with a more gradual progression this time, suggesting potential for another significant upward movement.
Key Points
1. Cardano (ADA) is mirroring the early stages of its 2021 bull run, following the same technical roadmap but at a slower pace.
2. In the 2021 cycle, ADA surged from $0.05 to above $3.00, guided by Fibonacci retracement levels at $0.15, $0.30, and $0.85.
3. Currently, ADA is trading around $0.76, down 8% from a recent high of $0.85, but the underlying bullish structure remains intact.
4. Analyst Ali highlights that ADA's current setup is forming more slowly and methodically compared to 2021, which could indicate a more sustainable rally.
5. Fibonacci targets from the 2021 surge suggest potential upside levels of $4.19 and $6.25 if the current structure holds.
Description
Cardano (ADA) may be on the cusp of a major breakout, as its current price pattern closely mirrors the early stages of its explosive 2021 bull run. According to popular crypto analyst Ali, the asset is following the same technical roadmap, just more gradually this time. Ali’s observation, shared in a recent post on X, is accompanied by a detailed side-by-side Fibonacci chart that places ADA’s current position in direct comparison with the last cycle’s ascent. The resemblance is striking and may ...
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