Cardano’s ADA has had a turbulent few days, but analyst Nick from the Cheeky Crypto YouTube channel remains optimistic about its future. He walked viewers through Cardano’s current technical indicators and how they might be setting up for a big move through a video.
According to Nick, the ADA price recently retraced from the $0.92 region down to around $0.80, which aligns with what he calls a typical retracement zone. Despite this dip, he believes it’s not the end of the uptrend.
He pointed out that on the hourly chart, momentum indicators such as RSI and MACD are showing signs of a reset, which usually happens before a reversal. With the RSI now back in oversold territory and price tapping key levels near $0.78, he believes ADA is preparing for another push to the upside.
Nick also highlighted that he has been re-entering long positions gradually, with buy levels around $0.86 and $0.83, expecting ADA price to potentially reach between $1.07 and $1.21 in the near future.
Nick emphasized that Cardano has had a clean structure recently, forming five distinct waves followed by a fourth wave retracement.
He expects ADA to begin its fifth wave upward soon, provided it holds above the $0.73 level and maintains support in the current fair value gap between $0.78 and $0.79. He also reminded viewers that crypto remains volatile and any trading decision should be approached with caution.
ADA Price, Ethereum, and the Big Question
The video eventually shifts to the big headline: can Cardano flip Ethereum? Nick references a bold statement made by Cardano’s founder, Charles Hoskinson.
Hoskinson claimed that Cardano will become bigger than Ethereum, but only if the right leadership and coordination are in place. In his view, decentralization needs strong leadership to thrive, and without that, even well-designed protocols can struggle.
This led Nick to speculate about what it would really take for ADA to catch up with ETH. At the time of the video, Ethereum’s price was around $3,600, with a market cap of $436 billion. Cardano, by contrast, was trading at about $0.82, with a much smaller $20 billion market cap.
Nick acknowledged that flipping Ethereum would be a monumental task, and likely wouldn’t happen without an extraordinary shift in market sentiment, TVL, and network activity.
He proposed that one possible narrative that could push ADA into a new tier of growth is the approval of a Cardano ETF. While this is speculative, he sees it as the type of catalyst that could bring mainstream attention and large-scale liquidity into the ADA ecosystem. Until then, Cardano remains in Ethereum’s shadow, but with plenty of potential.
Can ADA Tokens Really Compete with ETH Tokens Long-Term?
Despite the gap in price and market cap between ADA tokens and ETH tokens, Nick believes there is still a compelling case for Cardano in the long term.
Cardano’s unique approach to decentralization, its consistent upgrades, and its strong community could set the stage for surprising growth. ADA price action will need to outperform consistently, and its ecosystem must attract more developer and investor attention for any chance of catching up to Ethereum.
Nick also touched on Cardano’s structural design, which emphasizes academic research, peer review, and careful development.
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This slow-and-steady method has sometimes frustrated traders looking for quick returns, but it has built a foundation that could support larger use cases in the future. If those use cases start generating real value and high transaction volumes, the ADA price could reflect that shift.
He concluded by saying that the path to flipping Ethereum is not just about ADA price. It involves a broader story of adoption, volume, and trust. While Cardano is still in tenth place by market cap, he’s not ruling out the possibility. But it will require more than price speculation. It will need real utility and growth across the entire Cardano ecosystem.
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