Market analyst Hamza recently shared a long-term outlook for the Cardano price, suggesting that the asset may be entering a critical phase in its multi-year Elliott Wave structure.
According to him, the Cardano price completed an important five-wave up leg in its rally from 2020 to 2021 and entered a lengthy corrective process, which has been going on for many years now.
The pattern seems to form what can be called a wave 2 correction within a zigzag formation within a declining parallel channel.
The structure is tightening, which implies that the Cardano price is approaching the latter stages of the correction. According to Hamza, such formations during the previous cycles brought about a very good move upwards, and thus this stage is very crucial.
Source: X
As observed by market analysts, the extended time frame of inactivity in the Cardano price is comparable to the phases of accumulation witnessed in the leading crypto assets before their breakout runs. This helps validate the theory that extended consolidation results in major price actions.
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Cardano Price Key Support Zones and Market Outlook
On the technical side, the Cardano price looks like it may be reaching an essential support level, which will determine its future course of action.
The chart indicates that the price point at $0.16, which corresponds to the 0.618 Fibonacci retracement, is significant in defining the end of the correction.
The current price action is considered to be wave 2 because the general trend of the market remains positive despite the drop in prices.
The market continues to move within a declining channel; however, the squeezing at the bottom of the channel might suggest that the sellers’ power has been exhausted.
In the case where buyers can manage to maintain control over this area, the formation of the third wave, which is normally seen as being the strongest of all the waves in an Elliott wave cycle, is expected.
However, if the price falls below the invalidation point at $0.0177, the bullish pattern will be invalidated.
Hoskinson Media Strategy and Ecosystem Growth
Meanwhile, the founder of Cardano, Charles Hoskinson, reveals his vision about how to make the project more visible.
He said that taking part in The Joe Rogan Experience is still within his communication strategy, although there is no fixed date for it yet. According to Hoskinson, such major interviews should be timed with some accomplishments in the ecosystem.
He further spoke of his participation on the show “Shawn Ryan Show” back in July 2025. He referred to it as a worthwhile experience that made it easier for him to elaborate on some of the complicated aspects of blockchain technology. It was an extensive interview that took several hours and engaged a lot of viewers.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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