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Cardano (ADA) is hovering for $0.71, but veteran chartist Maelius (@MaeliusCrypto) published on X suggests that the weekly structure could only be a pause before the next leg. The analyst chart compresses seven years of ADA/USD history into one pane, showing that despite a 45% retrace from the late 2024 peak, every cycle has not violated the dashed increasing trendlines that are lowly connected since the Covid panic in 2020.
Is Cardano price ready for lift-off?
In fact, the latest DIP halted within a long-standing demand band, which now grows from around $0.57 to $0.78, and didn’t close the week immediately under that dynamic support. Price Action is currently trading at nearly $0.66, above the 50-week index moving average after retrieving it with two decisive green candles.
In March 2024, the same moving average served as a vertical breakout springboard that carried the ADA to the $1.31 shy (HH). From 2020 onwards, the top of the dotted upward slope channel that contains any impulsive rallies.
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Momentum measures the paper, but hasn’t flashed a full confirmation yet. The weekly relative strength index is at 49, narrowing it down to falling hunches since its March high. It carves a higher bass sequence that reflects the price, but the slope resistance line drawn from the near 82 HH reads still holds forward. Wave Trend Oscillators tell a similar story. At the top of 2024, it produced a radiant bearish fleeting, bleeding into oversold territory around the -50, and is now bent upwards.
“Does Ada look dope or am I the only one?! I’d like to see an RSI breakout with a decisive move at the WTO, but it can build confidence, but the price will be higher (and if you get it). In other words, like the previous cycle acceleration in 2020 and 2023, momentum checks could fall behind price.
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From a pure market structure perspective, the ADA remains a sequence of highs and higher lows on the weekly charts, with the general downtrend line from the record highs in 2021 being broken over a year ago, with the recent revisions similar to what was thrown into new support.
As long as weekly candles respect the lower edge of the grey demand block (~$0.57) and multi-year uptrend lines, the path for the minimum resistance point is north.
If the RSI penetrates 60 levels and the wave trend oscillator confirms with a bullish cross, Maelius claims that the market is already trading at a higher price, examining his belief that a new surge is merely time.
At the time of pressing, the ADA traded for $0.709.
Featured images created with dall.e, charts on tradingview.com
