Cardano Targets $10.40 As ‘2020 Blastoff’ Pattern Returns, Analyst Says

Cardano (ADA) is getting the “2020 blastoff” remedy once more — at the least for those who ask Quantum Ascend, a technical analyst on X who says the chart is beginning to rhyme with the setup that preceded ADA’s final main run.

In a Dec. 13 video shared on X, Quantum Ascend (@quantum_ascend) informed followers he’s been working by means of a longer-term weekly depend and thinks the market could also be grinding towards the top of a drawn-out corrective construction. The punchline: a “conservative” goal zone round $4.88–$5.50, and a “main” bull-run goal of $10.40.

“Cardano Mirroring 2020 Blastoff Moment,” his post learn, earlier than laying out the 2 tiers: “Conservative: $4.88-$5.50” and “Primary: $10.40.”

The Framework Behind The Cardano Price Prediction

The framework he’s leaning on isn’t a clear five-wave impulse, he stated. Instead, he framed it as one thing slower and messier — “extra of like a big time-based macro correction right here on the D-wave,” he stated, describing what he believes is a triangle construction creating on the weekly chart.

“We’re making a triangle construction,” he stated. “So I’m going to be searching for the E-wave. That’s what finally ends up coming subsequent.”

An enormous a part of the argument is confluence. Quantum Ascend walked by means of a number of measurements and trendlines, pointing to cost zones the place completely different instruments cluster. One reference level was a previous A-to-B drawdown vary that, in his view, nonetheless hasn’t been absolutely “closed out,” with a key degree “up there on the $5.50 mark.”

Then he zoomed out to the larger construction, highlighting how an higher trendline from a C-to-D drawdown “converges with the three.618 [Fibonacci extension] up right here,” which he recommended provides weight to the $10 space. “So some confluence for that $10 space,” he stated, pointing on the chart degree he known as out round $10.62.

He additionally reached for a relative-performance comparability — to not Ethereum itself, however to Ethereum Classic.
“I’ve one other video from the previous that compares Ethereum Classic to ADA,” he stated. “And if it finally ends up doing the same transfer to Ethereum Classic, that additionally places us up into the $10 vary.”

Still, the near-term “secure” goal he stored circling again to was the $5 area. After strolling by means of a newer drawdown “going again to the highest of the Trump pump to the place we’re at now,” he stated a “full extension will get us fairly shut… round $4.88,” including that the $5 zone exhibits “a number of completely different indicators of confluence.”

“For me, I’m going to say my conservative estimate for ADA goes to be that $5 vary,” he stated. Then he went straight to the headline quantity: “I feel ADA will get up there round 10 bucks throughout this bull run.”

To make the comparability really feel much less summary, Quantum Ascend argued the present chop appears structurally much like a previous interval earlier than ADA’s last breakout — a fractal-style learn. “You guys discover the similarities right here?” he requested, describing how each strikes get “stopped out a little bit bit above the 0.5,” roll over, then revisit the decrease trendline earlier than pushing again to the high quality.

And then he widened the lens past Cardano, tossing in a reasonably aggressive macro view that sits beneath the bullish alt targets. “I actually, guys, throughout the board proper now, I consider that these corrections are coming to an finish,” he stated. “I feel we’ve got a blow off high in inventory markets, in crypto and all of that coming.”

But he additionally harassed he’s not married to a long-duration “supercycle” narrative. “I’m not a long-term bull,” he stated. “I’m not [predicting a] Bitcoin super cycle to $400K.” His present bitcoin high, he added, is $155,000 — and he expects alts to “severely outperform” within the last leg earlier than “it’s throughout.”

On the mathematics aspect, Quantum Ascend framed $10.40 as large, however not absurd in a market that has already produced outsized multiples. “If we have been to get that 1040, 25X, proper?” he stated, evaluating it to prior cycles the place ADA noticed strikes he pegged at “168X” and “75X.”

“So we’re simply speaking a few 25er,” he added. “Not that loopy while you put it into perspective.”

At press time, ADA traded at $0.4022.