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FIGR_HELOC $1.03 Markets · Explained
Cardano could repeat 2,000% rally if ADA reclaims key resistance levels
Analyst 360Trader points to chart similarities between Cardano's current structure and its 2021 bull cycle.
Key takeaways
- Key resistance levels identified. 360Trader flagged $0.25 as the first hurdle and $1.37 as the threshold for a stronger bullish phase in Cardano's price structure.
- Historical pattern comparison. The current chart formation resembles the base structure that preceded Cardano's 2,000% rally in 2021, when ADA reached an all-time high of $3.10 in September.
- Market conditions remain subdued. The broader altcoin market has not yet entered full altcoin season, with only 52% of top 100 cryptocurrencies outperforming Bitcoin versus the 75% threshold needed.
What happened
Analyst 360Trader has drawn attention to Cardano's weekly price chart, noting structural similarities between ADA's current market setup and the formation that preceded its historic 2021 bull run. According to reporting from The Crypto Basic and ZyCrypto, the analyst shared the comparison in a recent X post, suggesting the resemblance could be meaningful for investors tracking the cryptocurrency's next potential move.
360Trader identified two price levels as critical for confirming a bullish shift. The first is $0.25, which the analyst described as a level that would make Cardano more interesting to traders if reclaimed swiftly. The second, more substantial threshold is $1.37, which the analyst characterized as the key level that would signal the beginning of ADA's next bull market phase. At press time, ADA was trading around $0.19 to $0.20, meaning it would need to climb roughly 25% to 30% to reach the first target.
The analyst emphasized that Cardano remains in a consolidation phase and has not yet confirmed a bullish shift. Despite the similarities to the previous cycle, 360Trader stressed the importance of patience and waiting for broader market conditions to support a new altcoin rally. The analyst declined to provide a specific price target for how high ADA could climb in a potential bull run, focusing instead on the intermediate resistance levels that must first be overcome.
First $0.2706Latest $0.1959-27.6% over the period
Points are daily observations, not closing prices.
Why it matters
The historical parallel carries weight because of what happened in the previous cycle. Cardano rallied 2,000% from a similar base formation before reaching its all-time high of $3.10 in September 2021. If ADA were to replicate that percentage gain from its current price near $0.19, the token would reach approximately $3.80 to $4.00, surpassing its previous record. For traders monitoring Cardano, the identified resistance levels serve as potential confirmation points for whether the conditions that enabled that previous rally are beginning to form again. However, the analyst's framework makes clear that reaching these levels is not guaranteed and depends on shifts in the broader cryptocurrency market environment.
Background
Cardano has underperformed during the current market cycle. Over the past 90 days, ADA has gained only 1.48%, significantly trailing Bitcoin's 20.87% increase during the same period, according to The Crypto Basic. This context is relevant because altcoin rallies typically coincide with periods when altcoins broadly outperform Bitcoin. The Altcoin Season Index, a widely referenced metric, considers the market to be in altcoin season when at least 75% of the top 100 cryptocurrencies outperform Bitcoin over the preceding 90 days. Currently, only 52% of the top 100 cryptocurrencies meet that criterion, indicating the market has not yet entered the conditions typically associated with a full altcoin rally.
What to watch
Observers should monitor whether ADA can establish momentum above $0.25 in the near term, as 360Trader indicated this would strengthen the short-term outlook. More significantly, breaking above $1.37 would represent a more substantial confirmation of a bullish structure, according to the analyst's framework. Additionally, tracking the Altcoin Season Index and broader altcoin performance relative to Bitcoin will provide context for whether the market conditions necessary to support a larger rally in Cardano are developing.
Questions readers ask
What does 360Trader think could trigger a Cardano rally?
The analyst believes Cardano's current chart structure resembles the formation that preceded its 2021 bull run and suggests another substantial rally is possible if market conditions shift to favor altcoins. However, reclaiming key resistance levels at $0.25 and especially $1.37 would be necessary to confirm a bullish phase.
How much higher could ADA go based on this analysis?
360Trader did not provide a specific price target but noted that a repeat of the 2,000% surge from the previous cycle would push ADA to approximately $3.80 to $4.00, exceeding its all-time high of $3.10.
Why hasn't Cardano rallied yet if the chart structure is similar?
The broader market has not entered altcoin season, with only 52% of major cryptocurrencies outperforming Bitcoin versus the 75% threshold typically needed. The analyst stressed the importance of waiting for market conditions to shift in favor of altcoins.
