"80% drop from peak"...Cardano, next is a 2,461% vertical surge

▲ Cardano (ADA)/ChatGPT generated image

Cardano (ADA) has moved past a short-term price suppression phase and entered a perfect long-term upward trajectory, kicking off its journey towards an all-time high target price exceeding $6.

According to the cryptocurrency specialized media The Crypto Basic on April 20 (local time), analyst Celal Kucuker diagnosed Cardano's medium-to-long-term outlook as absolutely perfect. Cardano has fallen more than 80% from its current cycle high of $1.32, following the broader market's bearish trend. However, technical analysis suggests that Cardano is likely to show a very promising price movement in the next upward phase. Kucuker maintained an optimistic attitude, highly valuing Cardano's potential regardless of the current short-term trend.

Cardano is successfully defending a key support zone around $0.221 on the weekly chart. This zone is a demand point that Cardano last visited on February 6, where strong buying pressure entered. Some analysts view this movement as forming a double bottom and predict a large rebound when market conditions improve. Cardano is also on the verge of breaking through a downward trendline that has lasted for several months.

Looking at technical indicators, a downward trendline starting from the August 2025 peak of $1.019 has suppressed the price. On April 17, Cardano rose to $0.268, attempting a breakout on the daily chart. Although the upward momentum did not last, the price compression between the trendline and the horizontal support line suggests that a major breakout is imminent. Kucuker emphasized that the current sideways trend is only temporary and that patient investors will be greatly rewarded.

The mid-term target price for this upward setup is set at $1.178. This corresponds to the upper band of Cardano's trading range since March 2022. It requires an approximately 379% surge from the current price of $0.246 to reach this figure. Kucuker explained, "From a medium-to-long-term perspective, Cardano's chart structure is nothing short of perfect." The long-term target price is even more dramatic. Kucuker set the final target price for this upward cycle at $6.3.

The $6.3 target price represents an approximately 2,461% increase from the current price and aligns with the top of the multi-year upward channel on the weekly chart. The prerequisite for this massive surge scenario to materialize is that the $0.22 support level must be held. If the price falls below $0.22, the upward setup will weaken, potentially leading to further price declines. Investors are closely watching whether Cardano can ride on the major support level, break through the downward resistance line, and begin a new all-time high rally.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*