Cardano Price Prediction: Oversold Indicators Spark Hopes of a Quick Bounce Toward $0.75
The post Cardano Price Prediction: Oversold Indicators Spark Hopes of a Quick Bounce Toward $0.75 appeared on BitcoinEthereumNews.com.
Cardano price is hovering above a key Fibonacci level, with cycle symmetry and growing on-chain activity hinting at a potential breakout ahead. Cardano price is once again catching the market’s attention, not just because of price, but because of what’s happening beneath the surface. Market participants are pointing to a possible repeat of ADA’s last major cycle, with one key difference: this time, the structure looks slower but stronger. Cardano Price Mirrors Its Previous Cycle In a recent chart shared by renowned crypto analyst Ali Martinez, a broader, macro-level view of Cardano (ADA) is presented, highlighting striking similarities to the structure observed during its last major bull cycle. The Fibonacci overlays highlight a near-identical price rhythm, deep retracement, rounded accumulation, and then steady expansion. What’s different this time is that ADA appears to be unfolding the same pattern, just with a more gradual slope and consolidation, possibly building a stronger base. Cardano price’s current cycle mirrors its 2021 structure, holding above the 0.618 Fib zone with potential upside ahead. Source: Ali Martinez via X From a technical standpoint, the current level sits just above the 0.618 Fibonacci retracement zone from the previous cycle, often considered a key pivot point. If historical symmetry holds, ADA may be eyeing a move towards higher Fib levels like 1.618 and beyond. Cardano Crosses 300,000 Smart Contracts While price action often steals the spotlight, Cardano’s real story may be unfolding quietly on-chain. According to TapTools, ADA has now surpassed 300,000 smart contracts deployed on mainnet, a milestone that reflects continued developer engagement even during broader market consolidation. Cardano surpasses 300,000 smart contracts, signaling strong developer activity despite market consolidation. Source: TapTools via X This rise in on-chain development complements the technical picture laid out earlier in Ali’s cycle analysis. As Cardano price consolidates near the…
Filed under: News - @ August 2, 2025 3:24 am