Cardano could rally to unprecedented price marks spurred by bullish technical setups and a treasury-backed stablecoin expansion.
A TradingView analysis by “Migoreng_wrap” identified bullish potential for Cardano, tipping the altcoin to recover from recent consolidation. At the time of writing, ADA has pulled back by 18% over the past seven days and a staggering 55% since the start of the year.
Wave 3 to Lift Cardano
Notably, the analyst views the current market condition as temporary, predicting a lift for ADA. He highlighted that the third wave of a 5-wave Elliott Wave pattern would fuel this rally.
For context, ADA traded within a descending channel from its 2021 all-time high of $3.10 before eventually breaking out in January 2023. After reaching a peak of $0.46 in April 2023, the coin pulled back to retest the support around $0.22 by September.
An extensive Elliott Wave structure began forming around the support area in September 2023, with the first progressive wave pushing ADA to a high of $1.32 in December 2024. From there, the second corrective wave began and has persisted to its current price lows of $0.37.
Cardano Elliott Wave PatternThe analyst predicts that the third wave is on the horizon and could push Cardano to unprecedented heights. He projected an over 846% growth from here, past $3.10, to a new all-time high of $3.50.
Furthermore, the commentator noted that the ADA/BTC chart is showing signs of imminent reversal. While he didn’t provide further perspective, the chart shows an obvious downtrend, with Cardano showing weakness against the crypto leader.
Meanwhile, his USD chart shows that the completion of the 5-wave Elliot Wave pattern could take ADA to double digits
Stablecoin Push, a Core Price Catalyst
The analyst also highlighted the recent push by the Cardano Foundation to boost global adoption by injecting life into the ecosystem’s stablecoin DeFi liquidity. The Foundation committed an eight-figure ADA to boost this sector, aiming to solve the long-standing issue of a lack of user traction to Cardano DeFi.
According to the market watcher, the stablecoin push would be at the center of the Cardano ecosystem’s 2025/2026 strategy, potentially boosting adoption.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Arthur Hayes: Bitcoin’s long-term target price is $250k to $750k, and in the short term it could fall below $60k
Arthur Hayes said on a podcast that, because the Federal Reserve has not expanded liquidity, he will not put more money into Bitcoin. He expects his medium- to long-term target price to be between $250,000 and $750,000. He warned that if the Iran–U.S. conflict continues, Bitcoin could fall below $60,000 in the short term. Meanwhile, Charles Schwab will launch spot trading for Bitcoin and Ethereum. Research shows that after major shocks, Bitcoin has performed better than gold and the S&P 500, and its current price has rebounded to $67,300.
GateNews3h ago
The Crypto Fear and Greed Index rises to 13 today, and the market is still in an extreme fear state
Gate News message, April 6, according to Alternative.me data, today the Crypto Fear & Greed Index rose to 13, up 1 point from yesterday’s 12. Despite the index recovering, market sentiment is still in an “extreme fear” state.
GateNews3h ago
Michael Saylor dismisses Schiff's warning that 'MSTR will collapse,' citing 36% annual profits from Bitcoin
Michael Saylor, CEO of MicroStrategy, defends the company's Bitcoin strategy against investor Peter Schiff's warning about MSTR stock. Despite losses, Saylor emphasizes Bitcoin's superior performance compared to gold and the S&P 500 since 2020.
TapChiBitcoin3h ago
BTC 15-minute rise of 0.79%: Institutional pullback and structural fund outflows driving market fluctuations
2026-04-05 22:30 to 2026-04-05 22:45（UTC）, the BTC price fluctuated in the range of 67416.0 to 67986.7 USDT. Within 15 minutes, the return reached +0.79%, and the amplitude was 0.85%. The rapid change on the market quickly drew attention, with volatility increasing, but overall trading volume did not show extreme amplification, and sentiment was mainly cautious and volatile.
The main drivers behind this move are the continued withdrawal of institutional funds and large capital net outflows to outside trading platforms. On-chain data shows that in the past 24 hours, the whole-network BTC net outflow was -2,1
GateNews5h ago
Bitcoin tends to outperform gold and stocks after global shocks, Mercado Bitcoin finds
Bitcoin BTC$67,345.02 tends to outperform traditional safe haven assets like gold in the two months following major global crises, according to new analysis from Brazilian crypto exchange Mercado Bitcoin.
The study, led by Rony Szuster, head of research at the Latin American crypto platform,
CoinDesk7h ago
SHIB Holds Weak Range as Burn Rate Drops and Pressure Builds
Key Insights
SHIB remains within a long-standing descending channel, with price stuck in the lower range and unable to break persistent resistance levels.
The burn rate dropped sharply, removing a short-term support factor and reducing retail-driven momentum seen earlier during increased
CryptoNewsLand8h ago
