Cardano (ADA) on the Brink of a 130% Surge: Analysts Sound the Alarm

Hang onto your hats, crypto fans! Cardano (ADA) might just be revving up for a wild ride that could see it skyrocket by over 130% in the coming weeks. That's right, buckle up!

In a sizzling X post on March 31, the notorious RJT.WAGMI, with a whopping 124K followers, dropped the bombshell that ADA is shaping up into a classic "ABCDE" triangle pattern. This ain't your average chart doodle; it's the kind of setup that screams, "Get ready for a breakout!"

Imagine the price dancing through five waves, A to E, all squeezed into a tighter and tighter space, until it finally explodes in one direction. That's the game we're playing here.

RJT.WAGMI says ADA's currently doing the downward shimmy in the C wave, but once it nails those D and E waves, watch out! We could be looking at a massive upward blast.

And get this: RJT.WAGMI's betting that a bounce from the 0.5–0.618 Fibonacci retracement zone could catapult ADA straight to $1.5. "This is where OGs buy," he declared, hinting that the seasoned traders are ready to pounce when this pattern hits.

But RJT.WAGMI's not the only one feeling the heat. Fellow analyst CW is also jumping on the hype train, noting that ADA's playing nice with its long-term trend and flirting with the lower edge of a symmetrical triangle pattern. It's like watching a pressure cooker about to blow!

CW's calling it: once ADA smashes through that convergence zone, it's clear skies until $1.9. "Everything will start in an instant," he warned, pointing to the relentless net buying as a green flag for bulls.

And the numbers don't lie. CoinGlass data shows investors have been gobbling up ADA like it's going out of style, with net outflows dominating since March 3. That's right, more tokens are being yanked off exchanges than added, a clear sign that investors are betting big on ADA's future.

But wait, there's more! Analyst Master Kenobi is drawing parallels between ADA's current moves and its epic rally back in August–September 2024. After a long, drawn-out consolidation, ADA took off like a rocket. And with no new lows since its dip to $0.49 on Feb. 3, Kenobi's predicting a similar explosion in May, possibly blasting past $2.5.

But hold your horses, because at press time, ADA's still feeling the bearish squeeze, down 6.2% in the last day at $0.64, with a market cap of $23.3 billion.

ADA Technical Analysis: The Charts Are Talking

On the 1-day/USDT price chart, the 50-day moving average is strutting its stuff above the 200-day moving average. That's a bullish signal, folks, hinting at sustained momentum and setting the stage for a potential breakout.

The Supertrend indicator's also flashing green, having dipped below the price level. It's like a neon sign screaming, "Reversal incoming!"

And check this out: ADA's Relative Strength Index is plummeting to 39, teetering on the edge of oversold territory. That's the kind of level that makes bulls salivate, ready to swoop in and send the price soaring.

Meanwhile, ADA's MVRV Z-score has crashed to 0.0077, the lowest since early March. That means the average holder is just about breaking even, a point where selling pressure often eases and accumulation kicks into high gear. If the market sentiment flips, we could see a serious price rebound.

But here's the kicker: ADA's price correlation with Bitcoin is sitting at a hefty 0.79 over the past 30 days. That's a strong positive relationship, meaning ADA's next move could be tied to Bitcoin's dance moves. And right now, Bitcoin's on a downtrend, feeling the heat from President Donald Trump's U.S. reciprocal tariffs.

At the time of writing, Bitcoin (BTC) was trading at $81,484, down about 7% over the past week.

Disclosure: This article is for your entertainment and education, not investment advice. So, enjoy the ride, but don't bet the farm!