Cardano 'Looks Great', Analyst Predicts Major Moves Soon

Cardano is fluctuating around the $0.71 mark, but the weekly structure that veteran chartist Maelius (@MaeliusCrypto) published on X suggests that the calm may only be a pause before the next bullish move. This analyst's chart compresses seven years of ADA/USD history into one frame and shows that - despite a 45% pullback from the peak at the end of 2024 - the coin has not yet broken the dotted trend line that has connected every low of the cycle since the Covid panic of 2020. Is the price of Cardano ready to be bullish? In fact, the most recent price drop has halted within a long-term support range currently stretching from around 0.57 USD to 0.78 USD and immediately created a higher low (HL) in textbook fashion while never closing a week below that dynamic support level. Price action is once again trading above the 50-week exponential moving average, currently at around 0.66 USD, after reclaiming this level with two decisive green candles.

Back in March 2024, the similar moving average acted as a springboard for a vertical breakout that pushed ADA to higher levels (HH) just shy of $1.31 - the peak of the dotted channel, which has capped every impulsive bullish move since 2020. With the upper channel boundary currently near $1.50, Maelius argues that a clear breakout from the demand zone could unleash enough momentum to retest that ceiling. Momentum remeasured the thesis but has not yet given full confirmation. The weekly relative strength index is at 49 and has contracted to a bearish wedge since its March high; it is making a series of higher lows reflecting the price, but the downward sloping resistance line – drawn from the HH value near 82 – still limits any rally. The trend oscillation indicator tells a similar story: it creates a clear bearish divergence at the peak of 2024, flowing into the oversold area around -50 and is currently just curving up, with the fast and slow curves on the verge of a bullish crossover. "ADA looks amazing, or is it just me?! I want to see the RSI break out with a decisive move on the WTO to become extremely confident, but the price will be higher when ( and if ) we achieve that," Maelius wrote as he released the chart. In other words, momentum confirmation may lag behind the price, just like in the previous acceleration phases in 2020 and 2023. From a purely structural market perspective, ADA continues to maintain a continuous series of higher highs and higher lows on the weekly chart, the current downtrend line from the all-time high in 2021 was broken over a year ago, and the recent correction is nothing more concerning than a return to the new support level. As long as the weekly candle respects the lower boundary of the gray sphere (~$0.57) and the multi-year uptrend line, the path of least resistance will be to the north – with the next intersection of resistance levels near $0.81 (, the high in March 2024) as well as the high in December 2024 at $1.31 and the upper channel wall at around $1.50. If the RSI crosses above 60 and the wave trend oscillator confirms with a bullish crossover, Maelius believes that the market will trade at significantly higher prices, proving his belief that a new bullish phase is just a matter of time.