- Analyst Nick sees ADA gearing up for a fifth wave move, eyeing targets up to $1.21 if support near $0.78 holds.
- Hoskinson believes Cardano can surpass Ethereum—but only with strong leadership and ecosystem growth.
- A Cardano ETF, growing utility, and consistent upgrades could be catalysts for ADA’s next major breakout.
Cardano’s been wobbling lately, no doubt about that—but according to Nick from Cheeky Crypto, it’s not time to panic. In his latest video, he broke down ADA’s current technical setup and why he thinks a bigger move might be just around the corner.
So here’s the gist: ADA recently dropped from around $0.92 to the $0.80 area. Not great, but also not shocking. Nick calls it a “typical retracement,” and he’s not seeing signs of a breakdown just yet. In fact, with momentum indicators like RSI and MACD resetting on the hourly chart, he says ADA looks like it’s gearing up for another run.
Right now, RSI is back in oversold territory, and price action’s bouncing near $0.78. According to Nick, that’s usually where reversals begin—and he’s been quietly adding to his long positions around $0.86 and $0.83. His near-term targets? Somewhere between $1.07 and $1.21.
Five Waves, One Hope—and a Whole Lotta Volatility
Nick also points to Cardano’s structure. It’s been following a clean five-wave pattern, and this recent drop looks like the fourth wave pullback. If that’s the case, the fifth wave could be up next—assuming ADA doesn’t break below $0.73. That level’s key. He also noted the fair value gap around $0.78–$0.79 as an important support zone.
Still, he reminded viewers that crypto’s a wild ride. Anything can happen, so take the TA with a grain of caution, not gospel.
Can Cardano Flip Ethereum? Hoskinson Thinks So
Eventually, the conversation shifted to a spicy topic: could ADA ever actually flip Ethereum?
Nick brought up a bold claim by Cardano founder Charles Hoskinson. The guy thinks ADA could surpass ETH one day—if, and that’s a big if, the right leadership shows up. His point? Even a decentralized network needs direction, or it’ll get lost.
At the time of the video, Ethereum was trading at $3,600 with a massive $436B market cap. Meanwhile, Cardano was sitting at $0.82 and a market cap of just $20B. Big gap. Huge, even.
Nick admitted it’s a long shot—but not impossible. One potential game-changer he floated was a Cardano ETF. If approved, that could pull in serious capital and finally give ADA the attention it needs to play with the big dogs.
Slow and Steady Might Actually Work
Despite its lower price tag and smaller ecosystem, Cardano has some things going for it. Nick highlighted its academic roots, peer-reviewed upgrades, and focus on decentralization. It’s a slow burn, sure, but that foundation might actually help ADA scale when real adoption kicks in.
Of course, for ADA to seriously compete with ETH, it’s gonna need more than nice tech. It’ll need developers, users, liquidity, and above all—utility. Without that, it’s just another alt riding waves of hype.
Nick wrapped things up by saying this: flipping Ethereum isn’t just about a price war. It’s about the full picture—volume, infrastructure, and long-term trust. And while Cardano’s still trailing in market cap rankings, he’s not ruling anything out. Not yet, anyway.
