Crypto analyst Ali Martinez suggests Cardano is poised for an explosive surge, as recent price movements draw comparisons to its last major bullish cycle.
Ali Martinez shared a weekly chart of ADA on X, suggesting that the token is “mirroring” the price structure of its 2020 rally, though the pattern is developing more slowly.
ADA is trading at $0.8126, a 2% rise in the past day and 11% in the last week. This price point places it just below the 0.5 Fibonacci retracement level at $0.853. This level measures the midpoint between the all-time high of $3.099 in September 2021 and the cycle low of $0.23488 in 2022.
Key Resistance and Support Levels
The chart highlights several technical levels that traders are monitoring. Immediate resistance exists at the 0.5 Fibonacci retracement level of $0.853. A breakout above this level could open the path toward the 0.618 retracement at $1.156, followed by $1.784, and eventually the previous cycle high of $3.099.
Notably, Ali Martinez had previously outlined possible Cardano targets of $3.09, $4.19, and up to $6.25, should the current setup mirror a past cycle. He drew parallels between ADA’s present price behaviour and its 2020–2021 rally, highlighting similar structures unfolding at a more gradual rate.
On the downside, the 0.382 retracement level at $0.629 serves as the nearest support. A failure to hold this level could trigger a deeper decline toward the cycle low of $0.23488, representing a drop of more than 70% from current prices.
Extension Targets and Historical Context
The chart also plots Fibonacci extension targets, with the 1.272 extension at $6.253 marking a long-term bullish projection. However, such levels are based on mathematical ratios rather than confirmed market conditions.
From its September 2021 high, ADA fell by over 92% before bottoming at $0.23488. Since then, the cryptocurrency has gained more than 240%, highlighting the volatility that has characterized its previous cycles.
Other Analysts Predict Next Cardano Move
Meanwhile, a chart from Cardano trader Mr Brownstone indicates that ADA is showing signs of a potential breakout, with the analyst predicting rapid price expansion.
He based his outlook on the current Elliott Wave structure, which suggests the corrective phase has ended and an impulsive rally could be underway, possibly targeting the $1.60–$2.20 range.
However, the chart indicates that ADA must first breach the descending trendline and decisively close above the key $1.18 resistance to confirm this bullish scenario. Failure to clear this level could see the price remain range-bound or revisit lower supports around $0.70–$0.55.
Meanwhile, Cardano has broken out of a multi-week falling wedge, according to My Crypto Paradise, potentially signaling a market shift and eyeing $0.95.
The $0.7300–$0.7450 range now serves as key support to maintain the bullish structure, while $0.6700–$0.7100 forms a broader demand zone. A drop below $0.6600 would invalidate the breakout and could turn the outlook bearish.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
