Cardano (ADA) is once again getting the “2020 blowout” treatment — at least if you ask X technical analyst Quantum Ascend, the charts are starting to rhyme with the setup that preceded ADA’s last major run.
In a Dec. 13 video shared on X, Quantum Ascend (@quantum_ascend) told his followers that he is working on a long-term weekly aggregation and believes the market may be grinding toward the end of a protracted correction structure. The punchline is that the “conservative” target zone is around $4.88-$5.50, and the “major” bullish target is $10.40.
His post read, “Cardano Mirroring 2020 Explosion Moment,” and then explained the two tiers: “Conservative: $4.88 to $5.50” and “Preservative: $10.40.”
The framework behind Cardano price prediction
The framework he relies on, he said, is not a clean five-wave impulse. Rather, he framed it as slower and more cumbersome. “It’s like a large time-based macro adjustment in the D wave,” he said, explaining what he believes to be a triangular structure developing on the weekly chart.
“We are building a triangular structure,” he said. “So I’m going to look for E-wave. That’s going to be next.”
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A big part of the discussion is confluence. Quantum Ascend looked at multiple measurements and trend lines to show the price ranges where different tools concentrate. One reference point is the previous A to B drawdown range, which he says is not yet fully “closed out” and that the key level is “at the $5.50 mark.”
He then zoomed out on the larger structure, highlighting how the upper trend line from the C-to-D drawdown “converges with 3.618 (Fibonacci extension) here,” suggesting that it adds weight to the $10 area. “That $10 area is going to converge,” he said, pointing to the chart level he pointed to around $10.62.
He also dabbled in comparing performance relative to Ethereum Classic, rather than Ethereum itself.
“We have another video from the past comparing Ethereum Classic and ADA,” he said. “And if it ends up doing something similar to Ethereum Classic, it will also be in the $10 range.”
Still, the short-term “safe” target he kept returning to was $5 territory. After a recent drawdown that “has brought us back to the top of the Trump pump and here we are,” a “full extension would bring us pretty close to the $4.88 area,” he said, adding that the $5 zone is showing “various signs of confluence.”
“For me, I’m going to say that a conservative estimate for ADA would be in the $5 range,” he said. Then he went straight to the headline numbers. “I think ADA will gain about $10 in this bull market.”
To make the comparison less abstract, Quantum Ascend argued that the current chop is structurally similar to ADA’s last pre-breakout period, a fractal-style read. “Do you notice the similarities here?” he asked, describing how both moves “stopped out just above 0.5,” rolled over, and revisited the lower trendline before being pushed back to the top of the range.
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And he widened his lens beyond Cardano to throw in a pretty aggressive macro view under bullish alternative targets. “Honestly, folks, I believe across the board at this point these fixes are coming to an end,” he said. “I think we’re going to see the tops blown out in the stock market, cryptocurrencies and all the other markets.”
But he also emphasized that he is not tied to a long-term “supercycle” narrative. “I’m not a long-term bull,” he said. “I don’t expect the Bitcoin supercycle to go to $400,000,” he said, adding that Bitcoin’s current high is $155,000 and that he expects alternatives to “significantly outperform” on the final leg before “this is all over.”
On the mathematical side, Quantum Ascend was priced at $10.40, which is high, but not unreasonable in a market that is already producing huge multiples. “If you get that 1040, it’s 25x, right?” he said, comparing it to previous cycles that confirmed moves predicted by ADA to be 168X and 75X.
“So we’re just talking about 25ers,” he added. “In the grand scheme of things, it’s not that crazy.”
At the time of writing, ADA was trading at $0.4022.
Featured image created with DALL.E, chart on TradingView.com
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