Charting Guy, an independent technologist (@ChartingGuyonX), has resurfaced a long-standing Fibonacci channel and roadmap study.
Cardano can reach $6 in this Cycle
He posted his latest blog on X October 26. noted The following are some examples of how to use “ADA is fine as long as uptrend holds,” a view that is anchored in a multi-year rising channel that has contained price action since the 2018–2019 base. The channel features a lower rail now passing through roughly the $0.33–$0.35 area, a midline that has behaved as a recurring pivot since 2020, and overhead parallels that intersect with Fibonacci extension targets later in the cycle.
Chart history is mapped in an orderly manner. The 2021–2022 bear trend, drawn as a steep descending line from the prior peak, ended into the channel’s lower support and resolved through a series of falling trendline breakouts during 2023 and early 2024. The chart shows a pattern of rising highs and lower lows since Q4 2023. Currently, ADA’s price is once again being guided by a downward trendline.
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All of the elements in this layout are based on the Fibonacci lattice. The retracement set on the right margin—derived from the 2021 peak to the cycle low—marks 0% at $0.23488, then $0.33360 (0.136), $0.43180 (0.236), $0.62932 (0.382), a mid-range 0.5 at $0.85, $1.15694 (0.618), $1.43911 (0.702), $1.78464 (0.786), $2.32189 (0.888), and $3.09981 (1.000). Cycle extensions can be seen above the stack at $6.25325 (1.272), $9.00941 (1.414) and $15.26831.
The analyst’s earlier assessment of the market is consistent with these numbers. He wrote on April 27 that “ADA fibs are very important here. The 0.618 is a STRONG resistance… the 0.382 MUST hold… neutral until one of these breaks on a weekly close.” You can also find out more about the following: roadmap has aged intact.
Rallies through spring and summer repeatedly stalled in the 0.500–0.618 zone, with the 0.618 level at $1.15694 capping advances. The pivot level at $0.62932 has been the target for pullbacks.
After that rejection on September 18, he posted that “ADA higher low ✅ … higher high pending… still targeting 1.272 fib this cycle,” The price structure is tied to the grid of extension. This is not just moon math; this is geometry. If ADA continues to defend the uptrend defined by the channel’s lower rail and, crucially, converts the 0.618 retracement at $1.15694 into support on weekly closes, the path reopens into the upper retracement shelf—$1.43911 at 0.702 and $1.78464 at 0.786—before confronting the 0.888 marker at $2.32189.
On the main chart, a yellow waypoint (for a higher low) is located near about $2.30. It was aligned with the 0.888 level in order to mark a logical stop for the following impulsive leg below the full retracement at $3.09981.
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Beyond that area, the question of whether or not to raise it is relevant. The analyst’s objective for the cycle is to reach the $6.25325 extension with a 1.272. It is important to note that this target does not appear as an orphaned label on the canvas. Instead, it coincides with the higher parallels of the multiple-year rising channels further in time. last cycle’s base.
The risk management side of the ledger remains equally explicit: lose the 0.382 at $0.62932 on a weekly closing basis and the neutral-to-constructive stance is impaired, pushing focus back to $0.43180 and $0.33360, with the 0% anchor at $0.23488 defining the absolute boundary of the cycle floor inside the channel’s lower third.
The latest candlesticks on the chart show that ADA is in the middle of the channel, with the lower low confirmed but the range still unresolved under the descending trendline. These triggers remain unchanged, and are numerically obvious. It is possible to move toward $2.32 and $3.10 if the $1.15694 weekly closing price remains above it.
If the analyst fails to reach $0.62932, it would be a flattening of his uptrend prediction. Between those guardrails, the analyst’s October 26 message reads less like bravado and more like a conditional statement embedded in the chart itself: Cardano can still reach $6.25 this cycle—but only if the uptrend continues to hold and the 0.618 ceiling finally gives way.
At the time of publication, ADA was trading at $0.67.
Featured image was created with DALL.E chart by TradingView.com
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Source: www.newsbtc.com
