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

Hands-on with Hunyuan Hy3 Preview: Tencent's AI, Finally Competitive?

Tencent's Hunyuan AI team has released its latest language model, Hy3 preview, marking a significant step forward for the company's AI capabilities. With 295B total parameters and support for 256K context length, the model employs a mixture-of-experts architecture. It shows improvements in complex logic, instruction following, contextual learning, code generation, and agent task execution. In testing, Hy3 preview demonstrated strong performance in multi-step logical reasoning but showed occasional instability in identifying traps in trick questions. It performed well in extracting key information from disordered meeting transcripts and accurately followed new linguistic rules. As an AI agent, it successfully built functional applications like a Snake game and generated data analysis dashboards, though it sometimes fell short in fully completing complex open-ended tasks. In natural language use, it produced coherent and stylistically appropriate narratives with reduced “AI-like” tone. Priced competitively, Hy3 preview is already integrated into Tencent’s key products, including Tencent Cloud and WorkBuddy. While not leading in every benchmark, it represents a solid, practical model that signals Tencent’s renewed momentum in AI development.

marsbit26m ago

Hands-on with Hunyuan Hy3 Preview: Tencent's AI, Finally Competitive?

marsbit26m ago

From Theft to Re-entry: How Was $292 Million "Laundered"?

A sophisticated crypto laundering operation was executed following the $292 million hack of Kelp DAO on April 18. The attack, attributed to the North Korean Lazarus group, began with anonymous infrastructure preparation using Tornado Cash to fund wallets untraceably. The hacker exploited a vulnerability in Kelp’s cross-chain bridge, stealing 116,500 rsETH. To avoid crashing the market, the attacker used Aave and Compound as laundering tools—depositing the stolen rsETH as collateral to borrow $190 million in clean, liquid ETH. This move triggered a bank run on Aave, causing an $8 billion drop in TVL. After consolidating funds, the attacker fragmented them across hundreds of wallets to evade detection. A major breakpoint was THORChain, where over $460 million in volume—30 times its usual activity—was processed in 24 hours, converting ETH into Bitcoin. This shift to Bitcoin’s UTXO model exponentially increased tracing complexity by shattering funds into countless untraceable fragments. The final destination was Tron-based USDT, the primary channel for illicit crypto flows. From there, funds were cashed out via OTC brokers in China and Southeast Asia, using unlicensed underground banks and UnionPay networks outside Western sanctions scope. Ultimately, the laundered money supports North Korea’s weapons programs, which rely heavily on crypto hacking for foreign currency. The incident underscores structural challenges in DeFi: its openness, composability, and lack of central control make such laundering not just possible, but inherently difficult to prevent.

marsbit31m ago

From Theft to Re-entry: How Was $292 Million "Laundered"?

marsbit31m ago

Behind DeepSeek V4's Stunning Debut: Silicon Valley Is 'Building Walls,' China Is 'Paving Roads'

China's AI landscape is witnessing a strategic divergence from Silicon Valley’s closed-source competition to a collaborative open-source ecosystem. On April 24, DeepSeek released V4, a top-ranked open-source model on Hugging Face, featuring breakthroughs like million-token context length with minimal KV cache and native support for domestic chips like Huawei’s Ascend. Similarly, Kimi’s K2.6, released days earlier, also adopted open-source principles. Unlike U.S. giants such as OpenAI and Anthropic—locked in revenue disputes and tactical product clashes—Chinese firms embrace shared innovation. DeepSeek and Kimi openly build on each other’s advances, like the MLA architecture and Muon optimizer, avoiding redundant R&D and driving down costs. DeepSeek V4 focused on pushing base model capabilities, while Kimi specialized in Agent-based applications. Although U.S. firms lead in revenue and valuation, China’s open-source models achieve comparable performance at a fraction of the cost (e.g., DeepSeek V3 trained for $5.58M vs. GPT-5’s $500M+). With token usage growing exponentially, China’s collaborative model promises scalable, affordable AI built on domestic hardware, shaping a more accessible path to AGI.

marsbit40m ago

Behind DeepSeek V4's Stunning Debut: Silicon Valley Is 'Building Walls,' China Is 'Paving Roads'

marsbit40m ago

OpenClaw vs. Hermes: Which One Is Right for You?

Two leading AI agent projects, OpenClaw and Hermes, represent a fundamental divergence in design philosophy rather than just a feature competition. OpenClaw, a GitHub phenomenon, prioritizes user control and customization, offering a powerful, flexible platform for building and orchestrating agents. It boasts a massive ecosystem with over 44,000 skills, extensive model flexibility (supporting Anthropic, OpenAI, and others), and deep integrations across multiple messaging platforms. In contrast, Hermes Agent, developed by Nous Research, champions automation and efficiency. It is designed for lower cost and a lower barrier to entry, learning and improving automatically from user workflows. It runs tasks in isolated environments for security and offers significantly lower token costs out-of-the-box. The choice between them mirrors historical tech divides like Windows vs. Mac. OpenClaw is for users who want maximum control, customization, and don't mind a complex setup. Hermes is the smarter default for those seeking an affordable, easy-to-use agent that learns autonomously. The real competition is not about which is better, but which philosophy—a programmable personal OS or a self-evolving work proxy—better suits the user's needs for control, cost, and ease of use.

marsbit1h ago

OpenClaw vs. Hermes: Which One Is Right for You?

marsbit1h ago

Google and Amazon Simultaneously Invest Heavily in a Competitor: The Most Absurd Business Logic of the AI Era Is Becoming Reality

In a span of four days, Amazon announced an additional $25 billion investment, and Google pledged up to $40 billion—both direct competitors pouring over $65 billion into the same AI startup, Anthropic. Rather than a typical venture capital move, this signals the latest escalation in the cloud wars. The core of the deal is not equity but compute pre-orders: Anthropic must spend the majority of these funds on AWS and Google Cloud services and chips, effectively locking in massive future compute consumption. This reflects a shift in cloud market dynamics—enterprises now choose cloud providers based on which hosts the best AI models, not just price or stability. With OpenAI deeply tied to Microsoft, Anthropic’s Claude has become the only viable strategic asset for Google and Amazon to remain competitive. Anthropic’s annualized revenue has surged to $30 billion, and it is expanding into verticals like biotech, positioning itself as a cross-industry AI infrastructure layer. However, this funding comes with constraints: Anthropic’s independence is challenged as it balances two rival investors, its safety-first narrative faces pressure from regulatory scrutiny, and its path to IPO introduces new financial pressures. Globally, this accelerates a "tri-polar" closed-loop structure in AI infrastructure, with Microsoft-OpenAI, Google-Anthropic, and Amazon-Anthropic forming exclusive model-cloud alliances. In contrast, China’s landscape differs—investments like Alibaba and Tencent backing open-source model firm DeepSeek reflect a more decoupled approach, though closed-source models from major cloud providers still dominate. The $65 billion bet is ultimately about securing a seat at the table in an AI-defined future—where missing the model layer means losing the cloud war.

marsbit6h ago

Google and Amazon Simultaneously Invest Heavily in a Competitor: The Most Absurd Business Logic of the AI Era Is Becoming Reality

marsbit6h 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