This pattern sets Cardano’s path to $6 in this cycle
Cardano (ADA) appears to be following a clear technical roadmap that could pave the way for a major rally, potentially culminating in the asset hitting $6 in the current market cycle. Fibonacci retracement...
Cardano (ADA) appears to be following a clear technical roadmap that could pave the way for a major rally, potentially culminating in the asset hitting $6 in the current market cycle.
Fibonacci retracement and extension levels suggest that ADA is breaking out of a prolonged consolidation phase that began after its all-time high in 2021, according to insights shared by crypto analyst Ali Martinez in an X post on September 20.
The analysis highlights Cardano holding steady near the $0.9 zone, a level that coincides with critical resistance turned support. Historically, this base has acted as a springboard for larger price moves.
With ADA edging closer to the $1 psychological barrier, the focus now is on whether the asset can sustain momentum above the 0.618 Fibonacci retracement level, which often signals the shift from recovery to full-blown expansion in crypto market cycles.
If confirmed, the next significant resistance levels lie around $1.70 and $2.90, with the $3.10 mark aligning with ADA’s previous peak.
A successful breakout above this zone would open the path toward higher Fibonacci extensions, particularly the 1.618 level near $4.72 and the 2.618 level projected close to $6, an increase of over 550% from the current price.
While the broader cryptocurrency market’s direction will play a decisive role in Cardano’s trajectory, the chart pattern suggests the asset remains in a long-term bullish structure.
ADA price analysis
At the time of reporting, ADA was trading at $0.89, down 0.7% in the past 24 hours but up over 3% on the weekly timeframe.
Cardano is also showing strength above both its 50-day simple moving average (SMA) at $0.84 and its 200-day SMA at $0.74. This alignment signals a healthy bullish trend, with the short-term average firmly above the long-term one.
Meanwhile, the 14-day RSI stands at 51.53, placing ADA in neutral territory, neither overbought nor oversold. This balance indicates room for further upside without immediate risk of correction.
Featured image via Shutterstock
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