Cardano ( ADA ) appears to be following a clear technical roadmap that could pave the way for a major rally, potentially culminating in the asset hitting $6 in the current market cycle. Fibonacci retracement and extension levels suggest that ADA is breaking out of a prolonged consolidation phase that began after its all-time high in 2021, according to insights shared by crypto analyst Ali Martinez in an X post on September 20. ADA price analysis chart. Source: TradingView The analysis highlights Cardano holding steady near the $0.9 zone, a level that coincides with critical resistance turned support. Historically, this base has acted as a springboard for larger price moves. With ADA edging closer to the $1 psychological barrier, the focus now is on whether the asset can sustain momentum above the 0.618 Fibonacci retracement level, which often signals the shift from recovery to full-blown expansion in crypto market cycles. If confirmed, the next significant resistance levels lie around $1.70 and $2.90, with the $3.10 mark aligning with ADA’s previous peak. A successful breakout above this zone would open the path toward higher Fibonacci extensions, particularly the 1.618 level near $4.72 and the 2.618 level projected close to $6, an increase of over 550% from the current price. While the broader cryptocurrency market’s direction will play a decisive role in Cardano’s trajectory, the chart pattern suggests the asset remains in a long-term bullish structure. ADA price analysis At the time of reporting, ADA was trading at $0.89, down 0.7% in the past 24 hours but up over 3% on the weekly timeframe. ADA seven-day price chart. Source: Finbold Cardano is also showing strength above both its 50-day simple moving average ( SMA ) at $0.84 and its 200-day SMA at $0.74. This alignment signals a healthy bullish trend, with the short-term average firmly above the long-term one. Meanwhile, the 14-day RSI stands at 51.53, placing ADA in neutral territory, neither overbought nor oversold. This balance indicates room for further upside without immediate risk of correction. Featured image via Shutterstock The post This pattern sets Cardano’s path to $6 in this cycle appeared first on Finbold .
