Analyst Predicts 2,000% Cardano Rally: ‘Fractal Is Too Clean’

Crypto-market commentator “Quantum Ascend” devoted a 8 June video to a single idea: the price structure that once catapulted Ethereum Classic to its bull-market peak is about to do the same for Cardano—and could deliver a twenty-fold advance if history “rhymes rather than repeats.”

The analyst spoke to his audience opened ADA’s Weekly Chart “looks so similar” The multi-year patterns that led up to Ethereum Classic’s upward movement in early 2021. “They have the same market makers,” he said, noting that Cardano co-founder Charles Hoskinson played a key role in both early projects. “It’s almost like a cheat code for this thing.”

Cardano Set For 2,000% Explosion

Quantum Ascend was used to illustrate a parallel between the Elliott wave counts of the two assets. His reading is that Ethereum Classic finished its fifth impulsive cycle during the last period, while Cardano was “waiting on that fifth wave” After a long consolidation in the form of a flag.

He then dropped a Fibonacci retracement on Ethereum Classic’s 2020–21 third-to-fourth-wave segment, showing the final thrust topped out “just shy of the 2.36″—and repeated the exercise on Cardano’s current structureIt has also advanced in proportion. “Come on, it’s not perfect,” He admitted it. “but you guys see how similar these structures are.”

The conservative target is a second Fibonacci extension of Cardano’s original three-wave span. “up around four bucks,” He said. But a more ambitious extrapolation of Ethereum Classic’s 3.618 climax would propel ADA into a zone between roughly 10.67 The following are some examples of how to get started: 12.55—an area he calls his “primary” and “secondary” objectives.

This would represent a price increase of over 2,000 percent. “That’s violent,” After pointing his cursor at the ETC graph, he made a comment. “Hopefully you can see how clean this is, because I feel really good about Cardano getting up into that $10 level.”

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Quantum Ascend claimed that there is also an alignment in the time spacing. Cardano’s multiyear base was completed approximately four-and-ahalf years after Ethereum Classic listed in August 2016. analogous baseIt is the same length as it was in 2017. “the whole chart has taken a little bit longer on the consolidation.” The extension was merely for him. “loads the spring” Once the season has begun, you can expect a higher price.

Analysts did take into account the possibility of interim volatility. In this scenario, ADA might hit its former highs around $3.12. “reject back down to $1.67” After a market shakeout of the fourth wave, launch a blast-off towards the Fibonacci group at its upper end. But even this corrective loop strengthens the fractal: “Over here with Ethereum Classic it got to its last all-time high, rejected, and then went on one more big run.”

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Quantum Ascend quantified his risk appetite and told the viewers that he was “pretty hyped on Cardano” The token is what you want “in my portfolio because it is one of my higher-conviction plays for what’s about to happen here.” He concluded by sketching three tiers of price objectives—$4.90 (conservative), $10.67 (primary) and $12.45 (secondary).

Altseason’s initial gun may not fire as smoothly as the fractal suggests, but Quantum Ascend’s theory hinges on one proposition: If the same market-makers move historically related assets in mirror image patterns, it could be more costly to ignore the setup than to wager against it.

At the time of publication, ADA is trading for $0.59.

Featured image was created with DALL.E chart by TradingView.com