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Cardano (ADA) is getting the “2020 blastoff” treatment again — at least if you ask Quantum Ascend, a technical analyst on X who says the chart is starting to rhyme with the setup that preceded ADA’s last major run.

In a Dec. 13 video shared on X, Quantum Ascend (@quantum_ascend) told followers he’s been working through a longer-term weekly count and thinks the market may be grinding toward the end of a drawn-out corrective structure. The punchline: a “conservative” target zone around $4.88–$5.50, and a “primary” bull-run target of $10.40.

“Cardano Mirroring 2020 Blastoff Moment,” his post read, before laying out the two tiers: “Conservative: $4.88-$5.50” and “Primary: $10.40.”

The Framework Behind The Cardano Price Prediction

The framework he’s leaning on isn’t a clean five-wave impulse, he said. Instead, he framed it as something slower and messier — “more of like a large time-based macro correction here on the D-wave,” he said, describing what he believes is a triangle structure developing on the weekly chart.

“We’re creating a triangle structure,” he said. “So I am going to be looking for the E-wave. That’s what ends up coming next.”

A big part of the argument is confluence. Quantum Ascend walked through multiple measurements and trendlines, pointing to price zones where different tools cluster. One reference point was a prior A-to-B drawdown range that, in his view, still hasn’t been fully “closed out,” with a key level “up there at the $5.50 mark.”

Then he zoomed out to the bigger structure, highlighting how an upper trendline from a C-to-D drawdown “converges with the 3.618 [Fibonacci extension] up here,” which he suggested adds weight to the $10 area. “So some confluence for that $10 area,” he said, pointing at the chart level he called out around $10.62.

He also reached for a relative-performance comparison — not to Ethereum itself, but to Ethereum Classic. “I have another video from the past that compares Ethereum Classic to ADA,” he said. “And if it ends up doing a similar move to Ethereum Classic, that also puts us up into the $10 range.”

Still, the near-term “safe” target he kept circling back to was the $5 region. After walking through a more recent drawdown “going back to the top of the Trump pump to where we’re at now,” he said a “full extension gets us pretty close… around $4.88,” adding that the $5 zone shows “a lot of different signs of confluence.”

“For me, I’m going to say my conservative estimate for ADA is going to be that $5 range,” he said. Then he went straight to the headline number: “I think ADA gets up there around 10 bucks during this bull run.”

To make the comparison feel less abstract, Quantum Ascend argued the current chop looks structurally similar to a prior period before ADA’s last breakout — a fractal-style read. “You guys notice the similarities here?” he asked, describing how both moves get “stopped out a little bit above the 0.5,” roll over, then revisit the lower trendline before pushing back to the top of the range.

And then he widened the lens beyond Cardano, tossing in a fairly aggressive macro view that sits underneath the bullish alt targets. “I honestly, guys, across the board right now, I believe that these corrections are coming to an end,” he said. “I think we have a blow off top in stock markets, in crypto and all of that coming.”

But he also stressed he’s not married to a long-duration “supercycle” narrative. “I am not a long-term bull,” he said. “I am not [predicting a] Bitcoin super cycle to $400K.” His current bitcoin top, he added, is $155,000 — and he expects alts to “severely outperform” in the final leg before “it’s all over.”

On the math side, Quantum Ascend framed $10.40 as big, but not absurd in a market that has already produced outsized multiples. “If we were to get that 1040, 25X, right?” he said, comparing it to prior cycles where ADA saw moves he pegged at “168X” and “75X.”

“So we’re just talking about a 25er,” he added. “Not that crazy when you put it into perspective.”

At press time, ADA traded at $0.4022.

The cryptocurrency market fell sharply on Monday, losing around $136 billion in value in a few hours as Bitcoin dropped below a crucial price level and leveraged trades were forced to close. The total crypto market capitalization fell about 3.7% to $2.93 trillion, according to market data.

Bitcoin Leads Declines

Bitcoin, the world’s largest cryptocurrency, fell after failing to hold the $88,000 support level, sliding to around $85,000 before stabilizing. The move triggered selling across the broader market.

Ethereum, the second-largest token, dropped more sharply, falling around 6.1% to about $2,932. BNB slipped nearly 3.9% to $854, while XRP declined about 6.5% to trade near $1.86. Solana fell around 3.7% to $126, and Dogecoin lost about 5.5%, trading close to $0.13.

Leveraged Trades Worsen Sell-Off

The sell-off was intensified by the liquidation of leveraged positions. Nearly $381 million in long positions were wiped out as prices fell, forcing automatic sales and accelerating losses.

Analysts said heavy use of leverage has made the crypto market more volatile than traditional financial markets. By comparison, the S&P 500 was down just 0.3% during the same period.

Analysts See Range-Bound Market

Analyst Michaël van de Poppe said the overall direction of the crypto market remains unclear despite the correction.

He observed similarities to previous market pullbacks, including those seen in early 2025, where prices consolidated before gradually recovering.

Important levels to watch include $3.2 trillion as resistance and $2.85 trillion as support for the total crypto market, he said.

Mining Sector Adds Pressure

Bitcoin miners are also facing rising costs, with average production expenses estimated at around $74,600 per Bitcoin, while total costs including equipment depreciation may reach $130,000.

Several mining firms have begun shifting toward AI data center hosting to offset declining profitability, adding another layer of uncertainty to the sector.

Ethereum price started a fresh decline below $3,000. ETH is now consolidating and might soon aim to start a recovery wave above $2,980.

• Ethereum started a fresh decline from the $3,175 zone.
• The price is trading below $3,000 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance at $3,120 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could continue to move down if it settles below the $2,920 zone.

Ethereum Price Dips 5%

Ethereum price failed to stay above $3,150 and started a fresh decline, like Bitcoin. ETH price dipped below $3,120 and $3,050 to enter a bearish zone.

The bears even pushed the price below $3,000. A low was formed at $2,916 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $3,175 swing high to the $2,916 low.

Ethereum price is now trading below $3,000 and the 100-hourly Simple Moving Average. Besides, there is a connecting bearish trend line forming with resistance at $3,120 on the hourly chart of ETH/USD.

If there is another upward move, the price could face resistance near the $2,980 level. The next key resistance is near the $3,050 level and the 50% Fib retracement level of the downward move from the $3,175 swing high to the $2,916 low. The first major resistance is near the $3,080 level. A clear move above the $3,080 resistance might send the price toward the $3,120 resistance. An upside break above the $3,120 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,175 resistance zone or even $3,200 in the near term.

More Losses In ETH?

If Ethereum fails to clear the $2,980 resistance, it could start a fresh decline. Initial support on the downside is near the $2,950 level. The first major support sits near the $2,920 zone.

A clear move below the $2,920 support might push the price toward the $2,880 support. Any more losses might send the price toward the $2,840 region. The next key support sits at $2,800.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,920

Major Resistance Level – $3,080

Bitcoin dropped nearly 4% to about $85,940 on Tuesday as Asian equities slipped at the open, with investors cutting risk before a run of US economic data that could shape the next leg for interest rates.

Indexes in Japan dipped, while Australian shares edged higher, after the S&P 500 fell for a second straight session overnight.

Futures linked to the S&P 500 and Nasdaq 100 were weaker in early Asian trading, signalling more pressure on Wall Street as traders wait for clues on growth, inflation and the Federal Reserve’s path.Market snapshot

• Bitcoin: $85,719, down 4.1%
• Ether: $2,930, down 6.1%
• XRP: $1.87, down 6.2%
• Total crypto market cap: $3.02 trillion, down 3.7%

Analysts See Bitcoin Laying Foundations For A 2026 Return To Record Highs

Despite the pullback, some crypto analysts remain upbeat on the medium term. Bitfinex’s research team expects the coming year to be defined by improving global liquidity conditions that will make Bitcoin “more solid than ever.”

They argue that the groundwork is being laid for BTC to regain its all-time high near $126,110 in 2026, supported by looser monetary policy, rising liquidity and steady crypto adoption.

Bitfinex also points to a changing market structure. With annual Bitcoin issuance now below 1%, they say the halving’s marginal impact has faded and recent drawdowns have been materially shallower, as flows from exchange traded funds, corporates and sovereign linked entities absorb multiples of yearly mined supply. In their view, that shift has created a market dominated by patient, long-term capital.

Not everyone is in a rush to add risk. Lin Tran, senior market analyst at XS.com, said Bitcoin’s failure to hold above the psychological $90,000 level after being rejected near $100,000 shows a cautious tone is still in charge. According to Tran, investors are trimming exposure into year end and prioritising capital preservation after a powerful rally earlier in the cycle.Risk Appetite Pauses As Investors Look For Clarity From Upcoming Indicators

In traditional markets, the yen strengthened against the dollar to around 154.85, as traders position for the Bank of Japan to lift its key rate to the highest level in three decades on Friday.

A measure of the dollar slipped for a second day, trading near levels last seen in early October, as investors leaned into expectations of further easing from the Fed over the medium term.

The broader backdrop is one of nervous consolidation into a heavy data week. Following the Fed’s latest rate cut, the November jobs report due Tuesday is expected to show a soft labour market and will include an updated estimate for October payrolls, which were delayed by the federal shutdown.

The US consumer price index is scheduled for Thursday, alongside figures on retail sales, business activity and inflation that could challenge or reinforce the current narrative.Officials Split On Whether Current Fed Stance Is Appropriate For 2026

Fed officials have sent mixed signals. Fed Governor Stephen Miran argued that the current stance is unnecessarily restrictive, while New York Fed President John Williams said policy is “well positioned” for next year after last week’s move.

Boston Fed President Susan Collins described the latest decision as a “close call,” noting she remains concerned about elevated inflation.

In Japan, investors are watching the tug of war between the government’s need for cheap financing and the pressure from a weak yen that is pushing up import costs.

Benchmark 10-year Japanese government bond yields touched 1.97% earlier this month, the highest in 18 years, prompting Bank of Japan Governor Kazuo Ueda to warn that yields are rising “somewhat fast.”

Back in the US, some strategists caution that data quality may be patchy after the Bureau of Labor Statistics played catch up following the shutdown.

Ian Lyngen at BMO Capital Markets says that backdrop could encourage a cautious reaction to this week’s prints, but if market expectations prove broadly correct it may set up another strong stretch for Treasuries, which are already on track for their best year since 2020.

Wall Street closed lower on Monday as traders digested the Fed chatter and braced for the incoming numbers.

The S&P 500 and Nasdaq logged their steepest daily declines in more than three weeks on Friday amid concern over inflation and debt fuelled AI investments, leaving both equity and crypto markets sensitive to any surprise in the data.

The US Senate Banking Committee has postponed markup hearings on crypto market structure legislation until 2026, despite earlier hopes for a hearing this week. 

In a statement on Monday, a spokesperson for the Senate Banking Committee chair Tim Scott confirmed that they will not hold a market structure markup this year.

“Chairman Scott and the Senate Banking Committee have made strong progress with Democratic counterparts on bipartisan digital asset market structure legislation,” the spokesperson said.

They added from the outset, Chairman Scott has been clear that “this effort should be bipartisan.” 

“He has consistently and patiently engaged in good-faith discussions to produce a strong bipartisan product that provides clarity for the digital asset industry and also makes America the crypto capital of the world,” he added. 

Midterm elections could further delay the process

The delay has disappointed some in the crypto industry, which had hoped for more substantial regulatory progress in 2025. 

“The Market Structure Bill has fallen apart on the markup phase in the Senate … Early 2026 may also be in jeopardy as well,” said crypto investor and researcher Paul Barron.

The legislation aims to clarify how the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) oversee crypto markets, with the latter designated as the primary spot market regulator. 

Related: Senator Lummis anticipates crypto market structure markup next week

Midterm elections are being held in 2026, during which all House and around 34 Senate seats will be contested. This can often delay or further complicate the passage of bipartisan legislation.

Spot crypto markets dip on Monday

It also remains unclear how quickly markup hearings will resume in 2026, as Congress will immediately focus on funding the federal government when it returns from its holiday break. The current funding bill expires on Jan. 30, so crypto legislation could be put on the back burner.

Crypto markets declined 3.6% as around $150 billion left the space in a matter of hours in late trading on Monday. Bitcoin (BTC) lost almost $5,000, dropping from just below $90,000 to just above $85,000, according to TradingView, and it has yet to recover. 

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Shiba Inu has kept a spot in crypto talk even as its price has slid sharply. According to reports, the network had a market cap of $5 billion as of Dec. 6, and it still draws attention because people know the name. That visibility, however, does not settle the debate over whether the token belongs in a long-term portfolio.

Shiba Inu’s Price And Market Size

Based on reports, Shiba Inu has seen massive moves over several years. Roughly five years ago it traded near $0.0000000001684; at the time of writing, it is quoted at about $0.000008439.

SHIB’s all-time high stands at $0.00008845, which means the token trades roughly 85% below that peak. Reports have disclosed that SHIB has tanked about 55% so far this year, and some data points show almost a 60% decline over a recent 12-month span. Those drops have pushed many investors to ask whether the story that once lifted SHIB has faded.

On-Chain Signals And Holder Counts

There are mixed signals on the chain. Data from CryptoQuant is reported to show memecoin dominance falling to its lowest level since early 2024, a sign that speculative interest across similar tokens has ebbed.

At the same time, the number of wallets holding SHIB moved from about 1.45 million at the start of the year to around 1.52 million more recently. That jump in holders was noted alongside the price slide. It suggests distribution rather than complete abandonment; small increases in holders do not always mean increased trading activity, but they can show steady retail interest.