Cardano Aims for $10.40 Amid 2020 Pattern Recurrence, Analyst Predicts

Technical analyst Quantum Ascend suggests that Cardano's (ADA) price chart is echoing the setup before its last major rally. He predicts potential price targets:

Conservative target: $4.88-$5.50
Primary bull-run target: $10.40

The analysis is based on a long-term weekly count, identifying a triangle structure in a macro correction scenario. Key arguments include:

Price zones where tools cluster, such as a prior A-to-B drawdown not fully closed out, targeting the $5.50 mark.
A convergence of trendlines and Fibonacci extensions supporting the $10 area.
Comparisons to past Ethereum Classic movements suggesting similar potential for ADA.

Quantum Ascend highlights the confluence around the $5 region as a safer near-term target while maintaining a bullish stance for a potential rise to $10 during this cycle. At present, ADA trades at $0.4022.

Cardano price analysis

Despite his positive outlook, he distances himself from long-term "supercycle" narratives, setting a Bitcoin top at $155,000 with expectations of altcoins outperforming before a market peak.