Cardano Price Could Soar 24x as Expert Sees Impulsive E-Wave Rise

TLDR

• Market analyst Quantum Ascend believes Cardano has reached its bottom and is ready to rally.
• He expects the Cardano price to rise to $10.4 in a bullish scenario.
• Even in a conservative case, he projects a rise to $5 from the current $0.39.
• The analyst identifies that Cardano is following a long-term ABCD price pattern.
• He highlights that the current D-wave correction is nearly complete.

Cardano price may be on the verge of a breakout, according to market analyst Quantum Ascend, who remains confident, saying a rally is “only a matter of time” as several bullish indicators line up, suggesting the cryptocurrency may soon reverse from its current level of $0.39 and head toward double digits.

Cardano Price Could Surge After Rebound

Quantum Ascend believes Cardano’s ongoing correction is nearing completion and anticipates a powerful rally to follow soon.

He pointed to ADA’s price action within a channel that has existed since 2018, showing a clear ABCD structure. The analyst noted that the asset currently trades in the D-wave, which is typically corrective in nature. However, the recent bullish move pushed Cardano back into the wedge, showing early signs of strength.

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

Even in a more conservative case, he projects 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 initiating a long-term uptrend.

Historical Trends and Indicators Support Bullish Outlook

Quantum Ascend referenced the retracement pattern in 2020 to support his bullish thesis for the Cardano price.

He compared the current pattern to the 2020 bottom and found similar structure forming, pointing to a completed ABC corrective wave. This strengthens his view that the bottom is either in or very near.

The analyst stated that such structures often precede impulsive uptrends, which could push 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 coil 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 building again.

Momentum Indicators Signal Growing Strength

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

He pointed to the MACD histogram, where red bars are receding, 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 current momentum suggests an incoming move to test higher resistance levels in the wedge. The expected E-wave would carry Cardano 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 trades at $0.39, with rising buying interest.

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