Expert Predicts Cardano Price Could Skyrocket 24x Due to Impulsive E-Wave Uptick

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TLDR

  • Market analyst Quantum Ascend is of the opinion that Cardano has hit its bottom and is set to rally.
  • He anticipates that in a bullish situation, the price of Cardano will reach $10.4.
  • Even in a more conservative scenario, he predicts that it will rise from the current $0.39 to $5.
  • The analyst has identified that Cardano is following a long – term ABCD price pattern.
  • He emphasizes that the current D – wave correction is almost finished.

According to market analyst Quantum Ascend, the price of Cardano might be on the verge of a breakout. He remains confident, stating that a rally is “only a matter of time” as multiple bullish indicators are aligning, which suggests that the cryptocurrency may soon reverse from its current level of $0.39 and head towards double – digit figures.

Caradano Price Could Surge After Rebound

Quantum Ascend believes that Cardano’s ongoing correction is close to completion and expects a powerful rally to follow shortly.

He pointed to the movement within a channel that has been in existence since 2018, which shows a clear ABCD structure. The analyst noted that the asset is currently trading in the D – wave, which is typically corrective. However, the recent bullish move has pushed Cardano back into the wedge, indicating early signs of strength.

 

He said that the rebound from the lower wedge signals the end of the correction phase and the start of the E – wave. Quantum Ascend stated, “The corrective wave is nearly over, and a blastoff is expected.” His projection puts the E – wave peak at $10.4, a 24x increase.

Even in a more conservative case, he projects that ADA could rise to $5, which would still represent a 12x gain. He sees similarities between the current setup and the 2020 correction that preceded a major rally. Back then, Cardano dropped to $0.017 before starting a long – term uptrend.

Historical Trends and Indicators Support Bullish Outlook

Quantum Ascend referred to the retracement pattern in 2020 to support his bullish view on the Cardano price.

He compared the current pattern to the 2020 bottom and found a similar structure forming, indicating a completed ABC corrective wave. This strengthens his belief that the bottom is either already reached or very close.

The analyst stated that such structures often precede impulsive uptrends, which could drive prices to new highs. He highlighted that the rebound resembles the start of a bullish leg, just like the one in 2020.

He also analyzed the Stochastic RSI on the weekly chart, which has started to curl upward, similar to the 2020 setup. At that time, RSI climbed from under 25 to near 100, leading to a strong rally. He sees this pattern emerging again.

Momentum Indicators Signal Growing Strength

Quantum Ascend also examined momentum indicators to support his view that the Cardano price may soon increase.

He pointed to the MACD histogram, where the red bars are shrinking, showing that bearish pressure is weakening. A bullish crossover could confirm a trend reversal and signal the start of a new rally.

He added that the current momentum suggests an upcoming move to test higher resistance levels in the wedge. The expected E – wave would take the price either to $5 or $10.4, depending on market conditions.

He concluded that the technical structure and indicators support the start of a bullish trend reversal. As of now, Cardano is trading at $0.39, with increasing buying interest.