Cardano (ADA), a new cryptocurrency, is gaining popularity. “2020 blastoff” treatment again — at least if you ask Quantum Ascend, a technical analyst on X who says the chart is starting to rhyme with the setup that preceded ADA’s last major run.
Quantum Ascend, (@quantum_ascend), in a video posted on X Dec. 13, told his followers that he has been working with a long-term weekly counting and believes the market is grinding towards the end of a prolonged corrective structure. The punchline is: “conservative” target zone around $4.88–$5.50, and a “primary” Target bull run of $10.40
“Cardano Mirroring 2020 Blastoff Moment,” The following is a list of the most recent and relevant articles. post Read this before you lay out the two layers: “Conservative: $4.88-$5.50” You can also find out more about the following: “Primary: $10.40.”
Cardano Predictions: A Framework for Price Forecasting
He said that the framework he is leaning towards doesn’t represent a five-wave, clean impulse. Instead, he framed it as something slower and messier — “more of like a large time-based macro correction here on the D-wave,” He described what he believed to be a triangle-shaped structure that is developing on the chart.
“We’re creating a triangle structure,” “He said” “So I am going to be looking for the E-wave. That’s what ends up coming next.”
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The confluence of factors is an important part of this argument. Quantum Ascend went through multiple measures and trendlines, showing price zones in which different tools cluster. The first reference was an A-to B drawdown range, which, according to him, hasn’t yet been completely analyzed. “closed out,” With a Key Level “up there at the $5.50 mark.”
After zooming out, he highlighted the upper trendline of a C-to D drawdown. “converges with the 3.618 [Fibonacci extension] up here,” The $10 zone is a good example of this. “So some confluence for that $10 area,” He pointed at the level of $10.62 on his chart.
He also reached for a relative-performance comparison — not to Ethereum itself, but to Ethereum Classic.
“I have another video from the past that compares Ethereum Classic to ADA,” “He said” “And if it ends up doing a similar move to Ethereum Classic, that also puts us up into the $10 range.”
Near-term, however, is where the action lies “safe” The $5 range was his constant target. Then, after walking through the more recent drawdown, “going to the top” was his next target. the Trump pump He said, “At the moment we’re in a good place.” “full extension gets us pretty close… around $4.88,” Addition of the $5 Zone “a lot of different signs of confluence.”
“For me, I’m going to say my conservative estimate for ADA is going to be that $5 range,” He said. He went right to the top number. “I think ADA gets up there around 10 bucks during this bull run.”
Quantum Ascend argued, to make the comparison less abstract and more concrete, that the current cut looks structurally like a period of time before ADA’s last breakout — a fractal-style read. “You guys notice the similarities here?” He asked, explaining how the two moves are different. “stopped out a little bit above the 0.5,” Roll over and then return to the lower trendline, before pushing up the upper range.
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He then expanded his lens to include a more aggressive macro perspective that sits beneath the bullish alternate targets. “I honestly, guys, across the board right now, I believe that these corrections are coming to an end,” “He said” “I think we have a blow off top in stock markets, in crypto and all of that coming.”
He also said he is not married for a long time “supercycle” narrative. “I am not a long-term bull,” “I am not a he” “I am not [predicting a] Bitcoin super cycle to $400K.” His current bitcoin top, he added, is $155,000 — and he expects alts to “severely outperform” The final leg of the race before “it’s all over.”
Quantum Ascend’s math framed the $10.40 price as large, but not ridiculous in a marketplace that had already seen multiples of this size. “If we were to get that 1040, 25X, right?” ADA had made moves in previous cycles, he noted. “168X” You can also find out more about the following: “75X.”
“So we’re just talking about a 25er,” He added. “Not that crazy when you put it into perspective.”
As of the time this article was published, ADA is trading at $0.4022.
Featured Image created using DALL.E and chart from TradingView.com
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Source: www.newsbtc.com
