Cardano is on track for a massive price rally, according to analyst Quantum Ascend. His analysis suggests that the token could surge by 2,000% if history “rhymes rather than repeats.”
A comparison of Cardano’s weekly chart with Ethereum Classic’s charts reveals similarities in their market structure and Elliott-wave counts. This similarity has led Quantum Ascend to suggest a potential price target for ADA, mirroring the Fibonacci retracement levels seen on Ethereum Classic.
Quantum Ascend points out that both projects have the same market makers and were involved by Cardano founder Charles Hoskinson early on. He believes this is more than just coincidence and highlights it as a “cheat code” for predicting Cardano’s price movement.
The analyst expects Cardano to reach an initial target of $4.90, followed by a primary target of $10.67, and a secondary target of $12.45. The timing of this price surge is also closely tied to the temporal spacing of both projects, with Cardano’s base completing roughly four and a half years after its first listing.
While there may be some interim turbulence, Quantum Ascend remains confident in his prediction, stating that he is “pretty hyped on Cardano” and believes it has strong potential for a significant price rally.
Source: https://www.tradingview.com/news/newsbtc:8c757cb03094b:0-analyst-predicts-2-000-cardano-rally-fractal-is-too-clean-to-ignore