Cardano Primed for Historic Rally: Market Signals Echo Pre-$3.10 ATH Breakout
Bulls are circling Cardano as its price action uncannily mirrors the conditions that catapulted it to a $3.10 all-time high. The charts are whispering—and this time, Wall Street’s spreadsheet jockeys might actually be listening.
Technical Déjà Vu
ADA’s consolidation pattern is textbook. The same tight range-bound movement that preceded its 2021 moonshot has reappeared—only now with stronger fundamentals and fewer meme-driven distractions.
Liquidity Tsunami Ahead
Market depth shows buy orders stacking up like casino chips. Whales aren’t just dipping toes; they’re diving in headfirst, with OTC desks reporting seven-figure accumulations since Q2.
The Cynic’s Corner
Of course, traditional finance ‘experts’ will claim they saw it coming—right after they finish explaining why they’re still underweight crypto. ADA doesn’t need their approval to run.
Cardano Prices Eyes 285% Rally To New Highs
In a TradingView post, Scrambler predicted that the Cardano price could soon record a 285% rally to reach $2.05. He noted that the 285% potential move mirrors ADA’s past rally from similar conditions. The analyst added that if market sentiment continues improving and the Bitcoin price holds above key levels, then the altcoin might repeat history.
Further commenting on the Cardano price action, Scrambler stated that ADA is showing a major breakout from a long-standing descending channel on the daily timeframe. He highlighted the structure, alluding to a downtrend channel that has been respected for around seven months. He also noted that a breakout has been confirmed with a strong bullish daily candle. Meanwhile, price is hovering around $0.7192, above previous resistance.
Scrambler stated that the support levels for the cardano price are $0.60 and $0.5299. The resistance and long-term targets are $0.8158, $1.0876, $1.3159, and $1.8958. Meanwhile, the ultimate target is the Fibonacci extension above $2.76. The analyst stated that a pullback to between $0.60 and $0.66 could offer re-entry opportunities.
Regardless of what happens to the Cardano price in the short term, Scrambler remains bullish in the long term and expects ADA to reach new highs. The analyst also advised market participants to watch for the BTC/ETH correlation. It is worth noting that ADA has shown impressive strength amid this recent crypto market rally. The altcoin has risen by over 25% in the last seven days, despite a recent pullback.
ADA To Breakout Against Its BTC Pair
In an X post, crypto analyst Sebastian stated that the ADA/BTC chart appears to be ready for a breakout. The analyst added that this is the most important breakout that market participants want to see, with the Cardano price separating itself from the Bitcoin price. Once that happens, the altcoin is likely to outperform the flagship crypto during that period.
Sebastian had earlier noted how Bitcoin’s dominance could be breaking down. Based on this, he remarked that alcoins like cardano are about to rally if this happens. A break in Bitcoin’s dominance could usher in altcoin season, which is bullish for the Cardano price. In the meantime, ADA’s performance still hinges on BTC’s performance.
At the time of writing, the Cardano price is trading at around $0.72, down almost 4% in the last 24 hours, according to data from CoinMarketCap.
