Will Cardano (ADA) price break historical records? Analysts say E wave has started, with a target directly aiming at the $5–10 range

In the crypto market, long-term price expectations for Cardano (ADA) are heating up again. Market analyst Quantum Ascend recently pointed out that Cardano may be at a critical technical inflection point, with the current oscillation around $0.39 potentially just a buildup phase before an upward move. Against the backdrop of multiple bullish signals, he believes that a trend breakout for ADA is “only a matter of time,” with a potential upside of 12 to 24 times in the medium to long term.

Structurally, Quantum Ascend noted that Cardano has been operating within a clear long-term channel since 2018 and has formed a typical ABCD wave structure. The current price is considered to be in the tail end of wave D, belonging to the final stage of the correction phase. Recently, the price has moved back inside the wedge structure, which he views as an early sign of market re-strengthening.

He further emphasized that a rebound from the lower boundary of the wedge typically indicates the end of the correction, and wave E is officially beginning. Within this framework, wave E often corresponds to a strong trending market. Based on this model, Quantum Ascend provided two core targets: ideally, the wave E high could reach $10.4, approximately 24 times the current price; even in a relatively conservative scenario, ADA could rise to $5, representing about a 12-fold increase.

Historical trends also support this judgment. The analyst compared the current pattern with the bottom structure of Cardano in 2020. Back then, after a deep correction, ADA started a long-term rally from around $0.017, eventually completing a full bull cycle. Wave structure analysis suggests that the current price pattern is highly similar to the end of the correction phase back then, implying that a medium to long-term bottom may have already appeared or is forming.

On the technical indicators front, the weekly stochastic RSI has begun to turn upward from low levels, similar to the early 2020 phase. That year, the indicator rapidly rose from below 25 to high levels, confirming a trend reversal in conjunction with price action. Additionally, the MACD histogram shows that bearish momentum is gradually weakening; if a bullish crossover occurs later, it will further confirm the return of bullish dominance.

Whether from wave structure, historical comparison, or momentum indicators, all point to the possibility that Cardano’s price may enter a new upward cycle. Despite short-term volatility, from a medium to long-term perspective, ADA is gradually accumulating the technical conditions for a breakout, which is the core reason behind the market’s ongoing bullish sentiment on Cardano’s price forecast.