According to crypto analyst Ali, Cardano (ADA) may be exhibiting a price behavior similar to its 2020–2021 cycle. His tweet points to a possible ADA breakout by mid-November, just a few weeks following the US elections.
Moreover, he anticipates ADA’s market top by September 2025. Ali’s analysis offers a historical perspective, examining ADA’s price behavior to project a possible future rally.
For almost two years, ADA remained in an accumulation period, trading about $0.02 and $0.06 in 2019. This prolonged gradual consolidation ended in November 2020 when the ADA’s price spiked.
The breakout led to a massive 4,095% rally, with ADA reaching an all-time high in 2021. Ali’s tweet notes how ADA’s historical buildup reflects similar conditions today, potentially setting the stage for another rally.
Besides, this period also saw a temporary decline in 2020 due to the COVID market crash. Despite a brief drop of 56.2%, ADA quickly recovered, revealing strong support levels and demand.
Ali suggests that current market indicators could align with this past accumulation and breakout trend.
ADA’s Current Accumulation Zone
Similar to its prior accumulation period, ADA has been trading in a narrow band of $0.20 to $0.45 since early 2022. Given that November 18, 2024, has been mentioned as a potential date, ADA may be getting ready for a breakout after spending about 455 days in this zone.
This timing, coinciding with Ali’s projection and historical market patterns, signals a potential bullish reversal. The $0.45 level remains a crucial resistance; crossing it could signify the start of a substantial price shift.
Ali’s analysis projects a possible 2,288% rise for ADA, potentially pushing it above $6 if the breakout replicates the previous rally’s scale. September 2025 is proposed as a likely peak, should this cycle’s gains mirror the past.
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Key Price Levels for ADA
Ali’s chart analysis identifies $0.20 as a key support level in ADA’s current range. This price floor has acted as a strong accumulation base, maintaining stability for the crypto. Meanwhile, $0.45 remains a key resistance level.
Should ADA surpass this threshold, it could confirm a breakout and indicate a return to a bullish phase. This shift could attract further interest in ADA, reinforcing its growth potential.
The chart shared by Ali offers a compelling case for ADA’s future movement, linking current patterns to historical cycles. By highlighting specific support and resistance levels, Ali’s forecast allows traders to anticipate ADA’s next moves.
If the outlined scenario unfolds, ADA could follow a trajectory similar to its 2020-2021 performance. Driven by market structure and trading sentiment, ADA could potentially reach new highs by 2025.
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