Cardano Faces Price Challenges as it Reverts to 2021 Levels

As Cardano enters the second week of April, the cryptocurrency is under significant scrutiny, with its price spiraling back to levels not seen in over four years. Initially trading above $0.65 at the start of the week, the asset suffered a steep decline, hitting a low of just below $0.52 on April 7.

Although there was a brief recovery on April 8, which momentarily lifted the price to around $0.61, this uptick was weak and ultimately short-lived. By April 9, Cardano’s price had stabilized near $0.5694, reflecting a 24-hour decline of 2.6%, a 7-day decrease of 15.4%, and a worrisome 25.9% drop over the past fortnight.

Return to Early 2021 Prices

This recent downturn has prompted analysts, including Jesse Olson, to examine Cardano’s prolonged stagnation. Olson shared insights on social media, highlighting that the token’s current price mirrors that of February 2021, precisely 1,519 days later. His observations raise questions about the long-term value retention of ADA for holders.

Brutal, #Cardano holders never got to see a new ATH.

1,519 days later and you can buy the same price as it was February 2021.

Never a guarantee. pic.twitter.com/8ByGiibC6k

— Jesse Olson (@JesseOlson) April 9, 2025

Throughout this period, ADA has experienced notable spikes as well as sharp corrections. Even following a brief rally in late 2023, the token has yet to achieve a new all-time high in the current market cycle. Olson’s analysis emphasizes that holders from early 2021 essentially find themselves back at breakeven levels today, bringing to light the unpredictable nature of cryptocurrency investments.

Mixed Sentiment: Bullish Outlook Amidst Bearish Trends

In stark contrast to the prevailing bearish sentiment, crypto commentator Alex Becker has offered a more optimistic projection for Cardano. In a recent YouTube discussion, he identified Cardano as one of eight cryptocurrencies poised for substantial growth by 2026. Becker asserts that despite past criticisms, ADA exhibits strong potential at its current pricing.

Becker attributed this bullish stance to Cardano’s decentralization, transaction efficiency, and growing network activity, which he believes could drive the price to $5, surpassing its previous all-time high of $3.09. Furthermore, he noted the rising institutional interest—highlighted by ETF-related filings and ADA’s inclusion in a U.S. cryptocurrency reserve—as potential catalysts for future growth.

Technical Analysis Indicates Upside Potential

Adding to the discussion, another market analyst has examined Cardano’s performance over the years using technical analysis. A chart on TradingView illustrates ADA’s movement within a multi-year ascending channel, a pattern historically indicative of price recoveries. The analyst noted that significant previous movements, such as the jump from $0.20 to $2.70 in 2021, occurred within this same structure.

Resistance levels were also discussed, with the analyst identifying $2.7567 as the initial challenge if ADA breaks above the established channel. If the current pattern holds, the model suggests a potential long-term target of approximately $50.4821, indicating that optimism remains among certain segments of the analyst community despite the current downturn.