Crypto Crew University Spots Cardano Setup That Delivered a 200% ADA Rally in 2023

Cardano 2023 Rally Offers a Clue

Crypto Crew University’s chart shows that in 2023, Cardano’s monthly RSI crossed above its moving average before $ADA began a strong recovery.

At the time, $ADA was trading at around $0.25 to $0.30. After the signal appeared, its price rose toward a target marked by the white line on the Fibonacci Moving Average (FibMA) indicator. According to the analyst, the move delivered gains of nearly 200%.

For context, Cardano traded at $0.2304 in June 2023 before rising to $0.6778 by December of that year. It continued its climb to $0.807 by March 2024, representing a gain of around 250%.

The analyst highlighted this rally because it occurred without a major altcoin season, suggesting that individual cryptocurrencies can still rise even when the broader market is relatively quiet.

However, past performance does not guarantee that Cardano will repeat the same rally.

Monthly RSI Signal Is Not Yet Confirmed

Notably, Cardano ($ADA) is trading near the lower end of its FibMA bands following a prolonged price decline. Its monthly RSI has also remained low but is now approaching its yellow moving average. This could be an early sign of a setup similar to the one that preceded $ADA’s 2023 rally.