Altcoin analyst 360Trader believes Cardano could replicate a rally similar to its previous bull cycle, when the token surged 2,000% from its price base.
In a recent X post, the analyst shared Cardano’s weekly chart, highlighting similarities between the asset’s current price structure and its previous market cycle. However, he emphasized that ADA remains in a consolidation phase and must reclaim key resistance levels to strengthen its bullish outlook.
ADA Must Reclaim $0.25 Before a Stronger Recovery
360Trader said he would become interested in ADA if the cryptocurrency quickly reclaims $0.25. However, ADA remains below this resistance, trading around $0.1913 at press time. At this price, the token needs to rally 30.68% to reclaim $0.25.
Beyond this immediate hurdle, 360Trader identified $1.37 as the key level ADA must break to enter what he considers its next bull-market stage. Therefore, although a recovery above $0.25 could improve the short-term outlook, Cardano would still need to overcome substantial resistance before entering a stronger bullish phase.
Cardano Could Repeat Its Previous 2,000% Rally
360Trader’s optimism stems from similarities between Cardano’s current price structure and its 2021 market cycle. As his chart shows, ADA previously rallied 2,000% from a similar base formation before hitting an all-time high of $3.10 in September 2021.
Based on this historical pattern, the analyst believes Cardano could stage another substantial rally if market conditions support a new altcoin bull market. However, he did not provide a specific price target for this potential move. Instead, he stressed the importance of patience while the market awaits a broader bullish shift.
For perspective, a 2,000% gain from ADA’s current price of $0.19 would push the token to around $3.99, surpassing its previous record of $3.10.
This projection aligns with other bullish forecasts, including analyst Captain’s prediction that ADA could climb to $4 by year-end.
Broader Market Conditions Remain a Challenge
Meanwhile, the broader cryptocurrency market has yet to establish the conditions typically associated with a full altcoin season. The widely used Altcoin Season Index classifies the market as being in altcoin season when at least 75% of the top 100 cryptocurrencies outperform Bitcoin over the preceding 90 days.
Currently, only 52% of altcoins are outperforming BTC, leaving the market below that threshold. Notably, Cardano is among the underperformers, having gained just 1.48% over the past 90 days, compared with Bitcoin’s 20.87% increase.