Cardano Declared “Back in Business” as Bullish Diamond Bottom Holds

TheNewsCryptoPublished on 2025-12-29Last updated on 2025-12-29

Abstract

Cardano (ADA) is showing signs of a potential bullish reversal after successfully retesting the support level of a multi-year diamond bottom formation on its weekly chart. The pattern, which began forming in April 2018, saw ADA break out in October 2023 and rally significantly into early 2024. After a correction, the token retested the diamond support around $0.27 in August 2024, leading to a 389% surge. Following another pullback, ADA recently retested the same critical support level again, with analysts interpreting this as a confirmation of the pattern's validity. This successful retest suggests a possible renewed bullish momentum, with one analyst maintaining a long-term price target of $48.

Cardano may be positioned for a rebound after retesting the support level of a multi-year bullish chart pattern. Analyst “The ChartWhisperer” suggested in an analysis that ADA could bounce from current price. This is because ADA is revisiting diamond bottom support on the weekly timeframe.

The token is already showing signs of recovery. After posting three consecutive green daily candles from Friday through Sunday, the rally extended into Monday’s trading session with Cardano gaining over 3% during early hours.

Diamond pattern emerges from 2018 price structure

The analyst noted on September 2, 2024, that Cardano’s price chart formed a diamond bottom pattern. Weekly chart analysis reveals the coin has traded within this diamond-shaped structure since April 2018. ADA broke out from the pattern in October 2023, climbing from approximately $0.24 to reach $0.81 by March 2024.

The token entered a correction phase after hitting this peak price. Cardano retested the diamond breakout zone around $0.27 in August 2024. A successful retest triggered another bullish wave for the asset, driving strong price growth through December 2024. ADA surged from lows of $0.27 to a high of $1.32, marking a 389% increase.

Current retest mirrors historical pattern behavior

TheChartWhisperer highlighted similar occurrences in Cardano’s recent price action. Following the December 2024 high, the token recorded another pullback, retracing 71% to present levels. The chart displays a flash crash to $0.27 on October 10, which retested the diamond bottom support before rebounding to $0.70.

The cryptocurrency has since gradually declined to last week’s low of $0.34. The analyst sees a repeat of previous price development from the support zone, stating that Cardano is “back in business.”

From current levels, he anticipates a price surge to new heights. His ADA forecast of $48 remains active. The analyst projected this move in his September 2024 Cardano price prediction. While the target did not materialize during that timeframe, the current retest of major support has reactivated the projection.

The diamond bottom pattern typically signals a reversal from bearish to bullish price action. Successful retests of breakout levels often confirm pattern validity and can lead to extended rallies.

TagsCardano

Related Questions

QWhat chart pattern did analyst TheChartWhisperer identify in Cardano's price structure?

AThe analyst identified a diamond bottom pattern in Cardano's weekly chart that has been forming since April 2018.

QWhat was the price range of ADA's initial breakout from the diamond pattern in October 2023?

AADA broke out from approximately $0.24 in October 2023 and reached $0.81 by March 2024.

QHow much did Cardano's price increase during the bullish wave following the August 2024 retest?

AADA surged 389% from lows of $0.27 to a high of $1.32 following the successful retest in August 2024.

QWhat key support level did Cardano retest in October 2024 according to the analysis?

ACardano retested the diamond bottom support level at $0.27 on October 10, 2024 before rebounding.

QWhat price target does TheChartWhisperer maintain for Cardano despite it not materializing in September 2024?

AThe analyst maintains an active price forecast of $48 for ADA, which was initially projected in September 2024.

Related Reads

Why Do You Always Lose Money on Polymarket? Because You're Betting on News, While the Pros Read the Rules

Why do you always lose money on Polymarket? Because you bet on news, while the pros study the rules. This article explains how top traders ("che tou") profit by meticulously analyzing market rules, not just predicting events. Polymarket, a prediction market platform, often sees disputes over event outcomes due to ambiguous rule wording. For instance, a market asking "Who will be the leader of Venezuela by the end of 2026?" was misinterpreted by many who bet on Delcy Rodríguez, assuming she held power. However, the rules specified "officially holds" as the formally appointed, sworn-in individual. Since Nicolás Maduro was still recognized as president officially, he won the market—even being in prison. To resolve such disputes, Polymarket uses a decentralized arbitration system via UMA protocol. The process involves: 1. Proposal: Anyone can propose a market outcome by staking 750 USDC, earning 5 USDC if unchallenged. 2. Dispute: A 2-hour window allows challenges with a 750 USDC stake; successful challengers earn 250 USDC. 3. Discussion: A 48-hour period on UMA Discord for evidence and debate. 4. Voting: UMA token holders vote in two 24-hour phases (blind then public). Outcomes require >65% consensus and 5M tokens voted; otherwise, four re-votes occur before Polymarket intervention. 5. Settlement: Results are final and automatic. Unlike traditional courts, Polymarket’s system lacks separation between arbitrators and stakeholders—voters often hold market positions, creating conflicts of interest. This leads to herd mentality in discussions and non-transparent outcomes without explanatory rulings, preventing precedent formation. Thus, success on Polymarket hinges on deep rule interpretation, not just event prediction, exploiting gaps between reality and contractual wording.

marsbit5m ago

Why Do You Always Lose Money on Polymarket? Because You're Betting on News, While the Pros Read the Rules

marsbit5m ago

DeepSeek Funding: Liang Wenfeng's 'Realist' Pivot

DeepSeek, a leading Chinese AI company, has initiated its first external funding round, aiming to raise at least $300 million at a valuation of no less than $10 billion. This move marks a significant shift from its founder Liang Wenfeng’s previous idealistic stance of rejecting external capital to maintain independence. Despite strong financial backing from its parent company, quantitative trading firm幻方量化 (Huanfang Quant), which provided an estimated $700 million in revenue in 2025 alone, DeepSeek faces mounting challenges. Key issues include a 15-month gap in major model updates, delays in its flagship V4 release, and the loss of several core researchers to competitors offering significantly higher compensation. The company is also undergoing a strategic pivot by migrating its infrastructure from NVIDIA’s CUDA to Huawei’s Ascend platform, a move aligned with China’s push for technological self-reliance amid U.S. export controls. However, DeepSeek lags behind rivals like智谱AI and MiniMax—both now publicly listed—in areas such as product ecosystem, multimodal capabilities, and commercialization. The funding round, though relatively small in scale, is seen as a way to establish a market-validated valuation anchor, making employee stock options more competitive and facilitating talent retention. It also signals DeepSeek’s transition from a pure research-oriented organization to a commercially-driven player in the global AI ecosystem.

marsbit43m ago

DeepSeek Funding: Liang Wenfeng's 'Realist' Pivot

marsbit43m ago

Warsh, Trump's Next 'Scapegoat' at the Federal Reserve?

Kevin Warsh, a nominee for the Federal Reserve chair, faces a challenging confirmation hearing amid political pressure from former President Donald Trump to implement immediate and significant interest rate cuts. Warsh has proposed reforms including reducing the Fed’s communication frequency and shrinking its $6.7 trillion balance sheet. However, market expectations for rate cuts remain limited, creating tension with Trump’s demands. Warsh’s stance has shifted over time, from hawkish during the financial crisis to more dovish recently, citing AI-driven productivity gains. His confirmation is further complicated by Republican Senator Thom Tillis’s threat to block the nomination unless an investigation into current Chair Jerome Powell is dropped. Trump has warned of firing Powell if he doesn’t leave on time. Observers note that Warsh risks becoming a "scapegoat"—either by yielding to political pressure and fueling inflation, or by resisting and facing Trump’s backlash. His ties to Trump’s circle and Wall Street support may aid his nomination, but his ability to balance political demands with the Fed’s credibility remains uncertain. Historical precedents, like Arthur Burns’s compliance with Nixon, highlight the risks of political interference in monetary policy.

marsbit48m ago

Warsh, Trump's Next 'Scapegoat' at the Federal Reserve?

marsbit48m ago

Plunging 10% Then Surging: Weekend Crude Oil Market Watch

Following a 10% plunge, oil prices surged over the weekend as geopolitical tensions in the Strait of Hormuz escalated dramatically. The initial market optimism, driven by the strait’s brief reopening on Friday, quickly reversed on Saturday when Iran reinstated restrictions and fired on vessels, halting nearly all traffic. In response, oil contracts rose approximately 4.52%, while S&P futures fell nearly 0.8%. U.S. President Trump alternated between diplomatic gestures—sending an envoy for talks—and threats to destroy Iranian infrastructure if no deal was reached. Iran rejected further negotiations, fearing a U.S. attack before the midweek ceasefire deadline. This triggered another spike in oil, surpassing Saturday’s highs, and further pressured equity markets. Crypto-related stocks underperformed significantly. Market optimism is expected to be punished, and the week ahead hinges on whether Iran maintains its refusal to negotiate.

marsbit56m ago

Plunging 10% Then Surging: Weekend Crude Oil Market Watch

marsbit56m ago

6,000 CEOs Admit AI 'Did Nothing', Yet It Was Used to Lay Off 40,000 People in Q1 This Year

A study by the National Bureau of Economic Research (NBER) surveying 6000 executives across four countries reveals that nearly 90% of businesses report AI has had "no measurable impact" on employment or productivity over the past three years. Despite global AI investments exceeding $250 billion in 2024, only 12% of CEOs reported both cost reductions and revenue growth from AI. Contrastingly, in Q1 2026, the industry saw 78,557 tech job cuts, with 47.9% attributed to AI and automation. Critics label this contradiction an "AI version of the Solow Paradox," referencing the visible lack of AI's effect in productivity data amid widespread adoption. While some leaders, like Anthropic’s CEO, predict AI will eliminate half of entry-level white-collar jobs, others accuse firms of "AI washing"—using AI as a pretext for layoffs originally planned due to over-hiring or weak demand. However, companies like IBM and Cognizant are bucking the trend by increasing entry-level hiring and retraining staff to work alongside AI. Economists suggest a "J-curve" effect may be underway, where initial productivity stagnation is followed by significant gains, as was seen with IT in the 1990s. The transition remains challenging, with true productivity improvements expected within 6–12 months.

marsbit58m ago

6,000 CEOs Admit AI 'Did Nothing', Yet It Was Used to Lay Off 40,000 People in Q1 This Year

marsbit58m ago

Trading

Spot
Futures

Hot Articles

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of ADA (ADA) are presented below.

活动图片

Top Questions