Skip to content

Cardano to the moon? ADA could ‘break out’ in December

Cardano to the moon? ADA could ‘break out' in December

Cardano (ADA) has been trading in one of its longest consolidation phases, which currently resembles ADA’s consolidation observed from 2018 to 2020, in anticipation of 2021’s euphoric bull market.

According to the expert crypto trader Ali Martinez on October 12, this current consolidation trend offers two possible future outcomes for Cardano:

“If history repeats, ADA could stay in this consolidation phase until July 2024. [However,] barring unforeseen events like the COVID-19 crash, ADA could break out as soon as December!”

— Ali Martinez (@ali_charts on X)

Notably, the 2018-2020 consolidation range for Cardano lasted 95 weeks, with a total registered volume of 88.218 billion ADA. However, the current trend is still in its 62nd week with a meaningfully lower volume of 5.025 billion ADA, 17 times lower than the previous cycle, for one-third of its time frame.

ADA 1-week price chart with consolidation rages and break out
ADA 1-week price chart with consolidation rages and break out. Source: Ali Martinez (@ali_charts) 

Nevertheless, Martinez believes that unless an “unforeseen event like the COVID-19 crash” takes place, ADA can break out of the consolidation range, seeking new highs.

Cardano (ADA) price analysis

Meanwhile, ADA is trading at $0.24 by press time, slightly losing 0.76% intraday. When looking at the consolidation phase mentioned by Ali Martinez, Cardano has traded as high as $0.45 per token, sitting in the lower spectrum of the range. ADA has lost close to 37% of its value year-over-year, from the $0.38 price 12 months ago.

Technically, ADA is positioned below its 200-day simple moving average, which typically indicates a bearish sentiment. 

Cardano (ADA) 1-year price chart.
Cardano (ADA) 1-year price chart. Source: Finbold

All things considered, multiple indicators are signaling good fundamentals for the mentioned “break out” from the current consolidation range. Among them, Cardano beats all crypto projects in September developer activity, as reported by Finbold on October 3.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.