Cardano trades at $0.8036 with 24-hour support at $0.7888 and resistance at $0.8332.
Current price structure matches early 2020 consolidation before ADA’s 2021 surge.
ADA gained 2.8% against BTC despite a 1.3% USD decline over the past 24 hours.
Cardano’s price action has entered a technical zone that closely matches the early phase of its prior multi-year structure. The asset traded at $0.8036 at the time of reporting, reflecting a 1.3% decline over the past 24 hours. Against Bitcoin, the price stood at 0.056773 BTC, marking a 2.8% gain within the same period.
Notably, current support sits at $0.7888, while resistance has formed at $0.8332. The latest weekly chart comparison places the present structure in a similar position to early 2020 levels, preceding a substantial upward movement in that cycle.
Historical Context and Technical Placement
The weekly chart highlights that Cardano’s current price level corresponds to a past consolidation zone before a sharp upward break in 2021. At that time, the market had already reclaimed several Fibonacci retracement levels, paving the way toward higher extensions.
Presently, the $0.7888 support aligns with a comparable level in the earlier pattern, providing a base for potential continued movement. Resistance at $0.8332 also matches an equivalent pivot point in the previous cycle’s setup.
https://twitter.com/ali_charts/status/1954492671730618637
ADA Holds Above Support as Weekly Structure Mirrors Previous Cycle
ADA has traded between $0.7888 and $0.8332 in the last 24 hours, illustrating intraday volatility characteristic of this consolidation period. The price remains above $0.7888, which acts as immediate support in current market conditions. Meanwhile, the recent Bitcoin bullish trend shows that traders remain interested despite short-term USD weakness. The range between the identified support and resistance levels remains to constrain movement until there is a material break.
The extended chart overlay projects a possible trajectory if the pattern’s similarity continues, though at a slower pace than before. The previous cycle’s move from this stage saw the asset break through multiple Fibonacci levels toward its historical peak. While current price action is developing more gradually, the structure on the weekly chart maintains its resemblance to that period. The chart’s upper markers show potential future extensions, with historical reference points reaching above $3 in the past cycle.
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