Cardano Repeating Structure Before 2021 Bull Run...1,490% Rally to Reappear?

▲ Cardano (ADA)/AI generated image

Analysis suggests that Cardano (ADA) is recreating a long-term price structure similar to the one just before its surge in 2021. The target price is set at $2.90, with an estimated increase of about 1,490%.

According to crypto media outlet CryptoBasic on August 3 (local time), crypto analyst Javon Marks analyzed that Cardano is repeating the trend seen just before the bull run that lasted from 2020 to 2021. He noted the possibility of another massive surge towards its previous all-time high.

Cardano surged to $1.32 in 2018, then plummeted to form a long-term bottom. Subsequently, it traded sideways around $0.02 for an extended period, creating a broad accumulation zone. After breaking out of this consolidation phase, a bull market began, and Cardano reached an all-time high of $3.10 in September 2021.

Marks believes that the recent trend is similar to past cycles. After its 2021 peak, Cardano underwent a prolonged correction with continuously lower highs. It then reached the bottom of a multi-year downtrend line. This position is similar to the zone where it completed its long-term accumulation in the past and began a bullish breakout.

Marks predicted that Cardano could rise to $2.90 after breaking through several resistance levels. The upside potential presented in the analysis is approximately 1,490%. If the trend continues as in past market cycles, the target price could be reached by early 2028.

Marks also projected in September 2025 that Cardano could rise to $2.91, passing through $1.20 after breaking out of a falling wedge pattern. In October of the same year, he suggested $2.96 based on a breakout from a long-term downtrend line and rising higher highs and higher lows. However, even if past price structures repeat, future gains are not guaranteed.

[Article Key Summary]

-Javon Marks analyzed that Cardano has formed a long-term price structure similar to the one just before the 2021 bull market.

-Cardano surged to $3.10 in September 2021 after breaking out of an accumulation zone around $0.02 in the past.

-Marks predicted that if past cycles repeat, Cardano could reach $2.90 by early 2028.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*