Cardano Reaches Level of Previous 500% Surge—Will It Happen Again?

▲ Cardano (ADA)

Cardano (ADA) has reached a technical inflection point similar to the period just before its previous 500% surge, raising investor expectations of a potential historical repeat.

According to cryptocurrency media outlet The Crypto Basic on February 20 (local time), Cardano has entered a price formation zone strikingly similar to the phase that preceded its massive rally in late 2023. At that time, Cardano rebounded from this level and recorded an extraordinary surge of approximately 500%, climbing from $0.24 to $0.80. Analysts are noting that the current chart pattern aligns with signals that preceded the prior explosive rally.

Crypto analyst Javon Marks assessed that Cardano’s price movement is in the early stages of attempting to break out of a massive falling wedge pattern. “If Cardano follows the trajectory seen in the previous cycle, the target for this rebound could exceed $2.40,” Marks projected optimistically. This level implies the potential for multiple-fold returns from the current price, stimulating market sentiment.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are also signaling a potential bullish reversal. As attempts to break above the long-term downtrend line continue, trading volume has been gradually increasing, indicating inflows of dip-buying demand. In particular, the key support level around $0.27 is being defended steadily, tilting the outlook toward an upward breakout rather than further downside pressure.

Fundamental improvements within the Cardano ecosystem are also acting as positive drivers. Smart contract activity and network staking volumes continue to rise, strengthening real utility and supporting confidence among long-term investors beyond speculative demand. Cardano appears to be undergoing a final consolidation phase before potentially recreating its past explosive rally.

Amid Bitcoin’s (BTC) sideways movement across the broader crypto market, Cardano’s independent trajectory as one of the leading altcoins is being interpreted as a sign of capital rotation. Investors are closely watching whether Javon Marks’ technical analysis will translate into actual price gains, carefully weighing the timing of a breakout above major resistance levels.

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