Buying Cardano Now Is Like Buying Bitcoin Before It Blew Up, Analyst Says

A prominent crypto analyst is pointing to similarities between Cardano’s current market position and Bitcoin’s early years. Some see a struggling altcoin still far from its glory days, while others believe the current setup looks like the early stages of major breakouts seen in previous cycles. 

A crypto analyst known as Crypto Patel on the social media platform X is leaning heavily toward the latter, and according to him, a $10+ ADA price is only a matter of time.

Crypto analyst Crypto Patel has compared the current Cardano setup to Bitcoin’s early days, arguing that the opportunity being presented now is one the industry has seen before.

Posting on X, analyst Crypto Patel pointed to ADA’s recent commodity classification by US regulators and its position nearly 91% below its all-time high as evidence that crypto investors are mispricing a cryptocurrency that already cleared its most significant legal and price structure breakdown. 

Cardano is currently trading around $0.24, a level that, on a bi-weekly chart spanning back to 2019, is right above a macro bullish order block identified by CryptoPatel. The macro bullish order block is a demand zone between $0.13 and $0.18 that has historically attracted significant buying interest.

The asset is down roughly 92% from its all-time high of $3.09, a figure that reads as catastrophic in isolation but which CryptoPatel frames as an opportunity. The situation resembles a period when Bitcoin traded at depressed levels while facing skepticism among investors in its early days. Interestingly, Cardano is in a much better position because it just got classified as a commodity. “That’s like buying Bitcoin when everyone called it a scam,” he wrote, “except this time the government already said it’s legit.”

The technical structure of CryptoPatel’s thesis is more layered than a single bullish callout. Technical analysis of the 2-week ADA/USDT chart on Binance shows the complete macro cycle and how the ADA price may be bottoming.

From its 2020 lows, the ADA price rallied 3,402% into the 2021 peak before entering a prolonged price correction. This prolonged correction led to the formation of a large descending triangle between 2022 and 2025, with a descending resistance trendline suppressing every recovery attempt. This led to a triangular price structure of lower highs and higher lows. 

When the price eventually broke down through the triangle’s lower support in 2025, that support flipped to resistance. The resistance level is between $0.45 and $0.50, and that range will need to be reclaimed for any meaningful recovery to take hold.

CryptoPatel’s projected recovery path is staged: a reclaim of Resistance 1 at $1.20, followed by Resistance 2 at $2.95, before a full bull market extension toward $5.82 and ultimately $15.60. This final target represents a gain of about 12,471% from the cycle bottom. “$10+ ADA is not a question,” the analyst wrote. “It’s just a matter of time.”