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Cardano (ADA) hovers in $0.71, but the weekly structure of veteran charterist Maelius (@MaeliusCrypto), published on X, suggests that the pause may just be pauses until the next leg is higher. The analyst’s chart compresses seven years of ADA/USD history into a pane and shows that despite a 45% recovery from the end of 2024 peak, the coin does not violate the lower dotted trend line for each cycle since the 2020 Covid Panic.
Are Cardano prices ready to increase?
In fact, the latest dip is parked within a long-term demand band that now stretches from about $0.57 to $0.78 and immediately prints a high and low (HL) textbook without ever closing a week with the dynamic backing. Price action once again exceeded the 50-week exponential moving average, and is currently recovering its current price with two decisive green candles, which is currently close to $0.66.
Back in March 2024, the same moving average served as a springboard for vertical breakouts, bringing ADA to the top of a dotted, upward sloping channel that contains every impulse rally since 2020. Since the upper channel has now been enough for $1.50 since the upper channel, this frequency is not enough to clean up the range.
Related Readings
Momentum measures the paper, but has not been fully confirmed. The weekly relative intensity index is at 49, and has been squeezing into the fallen wedge since its high in March. It is sculpting a series of higher lows that reflect the price, but the tilt resistance line drawn from the HH readings near 82 can still limit any progress. The Wave Trend Oscillator tells a similar story: It creates a huge bearish difference at the top of 2024, radiating oversold territory around -50, and only curly upwards, fast, slow curves on the edge of bullish crosses.
“Ada looks excited, or am I just me?! Wish to see the RSI breakout of W/decisive action to get super confidence, but when (if we get it, if we get it), the price will be higher,” Maelius wrote when posting the chart. In other words, momentum confirmation may lag behind prices, just like previous cycle accelerations during 2020 and 2023.
Related Readings
From a purely market structure perspective, the ADA remains at a series of uninterrupted highs and higher lows on the weekly chart, violating the 2021 record-wide downtrend line more than a year ago, while the recent corrections with new support throws are even more sinister.
As long as the weekly candle respects the lower edge of the gray demand block (~$0.57) and the trendline of the multi-year trendline, this is the path with the smallest resistance point north-the next resistance convergence is close to $0.81 (March to March to March to 2024 swing heights) and December 2024 highs, with a high price of $1.31, up to $1.31 and $1.50.
If the RSI pierces the 60th level and the wave-trend oscillator confirms the bullish cross, Maelius believes that the market will already trade at a substantially higher price, confirming his firm belief that emerging trends are only a matter of time.
At press time, the ADA traded at $0.709.
Featured Images created with dall.e, Charts for TradingView.com
