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Cardano Price Breaks Down From Ascending Channel, Here Are Two Ways It Could Go
A crypto analyst has confirmed a recent breakdown of the Cardano price from an Ascending Channel pattern. With key support and resistance levels now in focus, the analyst has outlined two scenarios for ADA, projecting where its price could move next. Cardano Price Ascending Channel: Bullish Scenario The Cardano price has been trending within an Ascending Channel for some time, maintaining steady price momentum amidst market volatility. However, a TradingView crypto analyst, known as ‘MelikaTrader94’, has identified a recent change in the Cardano price action. The analyst highlights that the altcoin has broken below the Ascending Channel, indicating a possible shift in market sentiment. Related Reading: Cardano Price Bounces From Key Support Level, But There’s Still A Risk To Crash To $0.85 An Ascending Channel is a distinctive chart pattern formed by two upward-sloping parallel trend lines. This pattern is typically considered a bullish continuation signal, often indicating the potential for a price reversal or deeper correction. Based on the TradingView analyst’s report, Cardano’s recent breakdown from its Ascending Channel could give rise to two possible scenarios. Firstly, the analyst predicts that the price of Cardano could experience a bullish surge, driven by the momentum generated from the channel breakdown. The analyst shared key support and resistance levels to watch, highlighting that a breakout about resistance could confirm a bullish reversal. Interestingly, the Cardano price has already broken below the key support level of around $0.7765. The cryptocurrency is now testing lower regions to find its next critical support. The TradingView analyst predicts that if the price of ADA can reclaim the support level at $0.7765, a retest to higher levels may be imminent. He has set a bullish target for ADA between $0.95 and $1.00, signaling the start of a strong uptrend and a potential price discovery. He also highlighted new resistance levels between $0.7765 and $0.80 for the price. Bearish Scenario: Further Decline Toward 0.2910 Fib? In an alternative scenario, MelikaTrader94 has shared a bearish outlook for the Cardano price. The price of Cardano is already in a severe downturn after crashing by 23.3% over the past week. Despite this bearish performance, the TradingView analyst predicts that ADA could see further downward momentum, declining towards the 0.4836 and 0.2910 Fibonacci levels if it fails to hold current levels. Related Reading: Cardano Price Eyes Breakout To $6 After Bouncing From 43% Drawdown The TradingView expert has pinpointed new support levels around $0.63, $0.48, and $0.29. These price points act as a barrier for the ADA, potentially preventing further declines. The analyst also disclosed that these support levels will serve as significant demand zones where buying pressure is set to increase. Given the possibility of a further breakdown in the ADA’s price, the analyst has cautioned investors to closely monitor ADA’s price action, particularly around the $0.63 level, as this could confirm the cryptocurrency’s next move. Featured image from Adobe Stock, chart from Tradingview.com -
Cardano Consolidates Within A Symmetrical Triangle – Expert Sees A 40% Move Once It Breaks
Cardano (ADA) has been trading below the $1 mark for the past few days, fueling uncertainty and speculation among investors. As the broader market experiences shifting sentiment, ADA remains in a tight consolidation phase, leaving traders eager for its next move. Related Reading: Bitcoin Outflows Signal Bullish Strength As Demand Remains High At $100K – What This Means However, market conditions have improved, and bullish sentiment is returning as Bitcoin flirts with a potential rally. With BTC leading the way, analysts believe altcoins like ADA could soon follow, setting the stage for a major breakout. Top crypto analyst Ali Martinez shared a technical analysis on X, revealing that Cardano is consolidating within a symmetrical triangle pattern. This formation typically signals an upcoming breakout, though the direction remains uncertain. If ADA breaks above key resistance, a strong rally could follow. However, failure to hold support could result in further downside movement. As the crypto market turns bullish, all eyes are on ADA’s price action to determine whether it can finally reclaim the $1 level and start a new uptrend. The coming days will be crucial in deciding whether Cardano can break out of its consolidation phase and join the broader market rally. Cardano Consolidates After 25% Drop Cardano (ADA) has been under significant selling pressure since mid-January, experiencing a steep decline of over 25%. Market volatility has kept ADA trading below the $1 mark, a psychological level that has become a key battleground for bulls and bears. However, analysts are now calling for a recovery as altcoins begin to regain strength, signaling a potential turnaround for Cardano. Crypto analyst Ali Martinez shared a technical analysis on X, revealing that Cardano is consolidating within a symmetrical triangle pattern, a formation often preceding a large breakout. According to Martinez, a decisive breakout from this pattern could trigger a 40% price move, bringing renewed momentum to ADA. If Cardano reclaims the $1 level and continues to push higher, buying pressure will increase, potentially driving ADA toward multi-year highs. A successful breakout would confirm strong demand and signal the start of a new bullish phase for the altcoin. Related Reading: Dogecoin Is Setting For A Massive Leg Higher – Analyst Sees Bullish Consolidation Above Key Level With Bitcoin leading the market upward and altcoins showing strength, ADA could be on the verge of a significant rally. The coming days will be crucial as investors watch whether Cardano can break out of consolidation and join the broader market surge. ADA Struggles Below $1 Cardano (ADA) is currently trading at $0.95 after failing to reclaim the $1 mark, a critical resistance level. The price has not closed above $1 since January 21, reinforcing it as a major hurdle for bulls. If ADA is to start a rally, buyers must push the price above $1 and hold it as support. This would confirm a trend shift and potentially trigger a move toward the $1.15 level, which has kept ADA suppressed for weeks. A breakout above this range could pave the way for strong bullish momentum and a rally into multi-month highs. However, risks remain. If ADA fails to hold above $0.90, selling pressure could intensify, leading to a deeper correction and prolonged consolidation before another breakout attempt. Losing this key support level could send ADA back to lower demand zones, delaying any significant upside moves. Related Reading: Solana ‘Still Wants Lower’ As Meme Coins Face A Major Shakeout – Analyst For now, investors are watching closely to see if ADA can reclaim key resistance levels or if another pullback is on the horizon. The next few days will be critical in determining Cardano’s short-term direction. Featured image from Dall-E, chart from TradingView -
Behind Cardano 15% Correction: Here’s How Much ADA Whales Sold
After a quiet start to 2025, the price of Cardano had finally begun to build on its bullish momentum from the previous year. However, the altcoin has seemingly encountered a setback, with its value falling by nearly 15% in the past week. While this downturn could be attributed to the uncertainty and drama surrounding Donald Trump’s inauguration, it could also be linked to the movement of large investors over the past week. Here’s how the Cardano whales sold in the last seven days. Whales Sold $180 Million Worth Of ADA Tokens Last Week In a recent post on the X platform, prominent crypto pundit Ali Martinez shared the amount of Cardano tokens offloaded by whales in the past week. This is based on the change in the wallet holdings of those who own between 100 million and 1 billion coins. Related Reading: Bitcoin Shark Wallets Set New Record: Bullish Foreshadowing For 2025? It is worth mentioning that addresses holding tokens of such magnitude are called whales. These entities are deemed significant as other market participants often watch their movements. Due to their substantial holdings, crypto whales often wield significant influence over the market and prices. Historically, prices of assets tend to move in the direction of these large investors (prices rise during whale accumulation and dip during whale sell-offs.) According to Martinez, the Cardano whales trimmed their holdings in the past week, offloading more than 180 million ADA tokens in the process. This sell-off is equivalent to around $185 million at the current market price. While determining the exact rationale behind the latest whale movement is difficult, it is not unusual for whales to lock in profits, especially after a price surge. For context, the Cardano price jumped nearly 30% from $0.9 to as high as $1.15 between January 13 and January 17. Furthermore, large-scale sell-offs by whales could indicate a shift in investor sentiment, especially if they expect a future price decline. They might try to cash in early to minimize or avoid losses. Ultimately, whales shaving their holdings doesn’t often bode well for an asset (Cardano, in this case), as it increases supply in the open market. Increased supply without sufficient demand to absorb the selling could exert bearish pressure on ADA’s price. Cardano Price At A Glance As of this writing, the ADA token is valued at around $0.97, reflecting a decline of over 1% in the past 24 hours. According to data from CoinGecko, the altcoin is down by about 15% in the last seven days. Related Reading: Catching The Next Quick 5X: Why The Dogecoin Price Should Be On Your Radar Featured image from Unsplash, chart from TradingView -
Cardano Consolidates In A Symmetrical Triangle – Analyst Expects A 40% Move
Cardano (ADA) has faced significant volatility and selling pressure over the past week, with the price struggling to reclaim the crucial $1 mark since last Wednesday. This prolonged dip below a key psychological level has left analysts and investors divided as uncertainty continues to dominate the broader crypto market. While some see signs of potential recovery, others remain cautious about the short-term outlook. Related Reading: XRP Forms A Bullish Pattern In 4-Hour Chart – Analyst Expects $4.20 After Breakout Renowned crypto analyst Ali Martinez has provided some clarity by sharing a detailed technical analysis. According to Martinez, Cardano is forming a symmetrical triangle pattern, a structure often associated with impending volatility and significant price movements. The outcome of this pattern could determine Cardano’s next major trend, whether bullish or bearish. As the market sentiment remains fragile, ADA’s ability to break out of this consolidation phase will likely set the tone for its performance in the coming days. A decisive move could either spark renewed optimism among investors or reinforce concerns about further downside. Cardano approaches a critical juncture, with traders and investors eagerly awaiting confirmation of its next move. The resolution of this symmetrical triangle could prove pivotal for ADA’s trajectory in the volatile crypto landscape. Cardano Prepares For A Big Move Cardano (ADA) has been heavily influenced by market volatility as the broader crypto market remains in a consolidation phase since late December. This prolonged period of sideways movement has kept traders and investors on edge, with many anticipating a significant breakout. However, the question remains: will Cardano’s next move be bullish or bearish? Renowned crypto analyst Ali Martinez has provided insights into Cardano’s current setup, sharing a detailed technical analysis on X. According to Martinez, ADA is currently forming a symmetrical triangle pattern, a classic chart structure that often precedes a major price move. The setup suggests that once the pattern resolves, Cardano could experience a 40% price swing in either direction. If ADA breaks out to the upside and confirms the move with strong volume, it could trigger a massive rally, potentially taking the price toward new short-term highs. Such a move would likely reinvigorate market sentiment and attract fresh buying interest. On the other hand, if Cardano fails to hold critical demand levels, a breakdown could result in a significant decline, leading to extended bearish pressure. Related Reading: Hedera Successfully Retests Key Demand Level – Expert Says The Next Stop Could Be $0.52 The coming days will be crucial for Cardano as it tests these critical levels. Traders are closely watching for confirmation of the breakout direction, as the outcome could set the stage for ADA’s trajectory in the weeks ahead. Whether the symmetrical triangle leads to a bullish rally or a bearish correction, the resolution of this consolidation phase will undoubtedly have a major impact on Cardano’s future performance in the crypto market. Price Struggles Below $1 Cardano (ADA) is currently trading at $0.98, struggling to regain momentum after several days of being unable to break back above the crucial $1 mark. This psychological level has proven to be a significant barrier, and reclaiming it as support is essential for bulls to regain control of the price action. For ADA to shift into a more bullish trajectory, it needs to break above $1 and hold it firmly as support. Such a move would signal renewed buying interest and could set the stage for further upward momentum. In the short term, the next target for ADA would be the $1.05 level. A breakout above this resistance could trigger a significant rally, potentially reigniting optimism among investors. However, the downside risks remain. If ADA loses the $0.95 support level, it could face a deeper correction phase, as this would signal increased selling pressure. Such a move might lead to further bearish sentiment, challenging the broader market’s stability. Related Reading: Chainlink Is In The Middle Of A Bullish Breakout – Analyst Sets $50 Target The next few days will be pivotal for Cardano’s price action. Traders and investors will be closely monitoring whether ADA can reclaim the $1 mark and pave the way for a potential breakout or if further consolidation and corrections lie ahead. Featured image from Dall-E, chart from TradingView -
Cardano Will Reach $1.50 Once The $1.10 Resistance Breaks – Details
Cardano (ADA) has been a focal point of the crypto market’s volatility, experiencing sharp price swings over the past week, particularly during the weekend. In just a few days, ADA has dropped over 18%, leading to growing fear and uncertainty among investors. This significant decline has shaken confidence in Cardano’s short-term outlook, with many wondering whether the asset can regain its momentum. Related Reading: MVRV Pricing Bands Suggest Ethereum Cycle Peak Is Still Ahead – Analyst Sets $7,000 Target Despite the market turbulence, top analyst Ali Martinez has offered a more optimistic perspective. Sharing a detailed technical analysis, Martinez suggested that Cardano is poised for a significant move upward once it overcomes a critical resistance level at $1.10. According to Martinez, breaking through this resistance could open the door for ADA to rally toward $1.50, marking a substantial recovery from its recent lows. As investors weigh their options amid the current volatility, Martinez’s analysis provides a glimmer of hope for those looking for a bullish turnaround. With the broader market showing signs of recovery, all eyes are on Cardano’s ability to reclaim key levels and shift market sentiment. The coming days will be crucial for ADA as it attempts to shake off fear and uncertainty and position itself for a potential rally. Cardano Testing Crucial Demand As the cryptocurrency market continues to grapple with heightened volatility and uncertainty, Cardano has managed to hold its ground above key demand levels. Despite recent turbulence, ADA’s ability to maintain these crucial levels has kept investors cautiously optimistic about its potential for a significant breakout. The price action indicates mounting bullish pressure, with many market participants eagerly awaiting a decisive move. Top analyst Ali Martinez recently shared a technical analysis on X, highlighting Cardano’s promising setup. According to Martinez, ADA is poised for a rally to $1.50 if it can overcome the critical resistance level at $1.10. This level has proven to be a significant barrier, but a successful breakout would signal renewed momentum and set the stage for a sustained upward trend. Martinez’s analysis provides a beacon of hope for investors seeking confirmation of ADA’s bullish potential. However, the outlook is not without risks. If ADA fails to hold its current demand levels, the possibility of a deeper decline looms large. Losing these levels could lead to a wave of selling pressure, testing investor confidence and delaying the anticipated breakout. Related Reading: XRP Whales Keep Loading Up Their Bags – 100 Million XRP Accumulation In 48 Hours As the market watches closely, Cardano’s next moves will be critical in determining its trajectory. The coming days will reveal whether ADA can capitalize on its resilience and push through resistance or face further consolidation. For now, the balance of risk and reward keeps investors on edge as they anticipate what could be a defining moment for Cardano in the current market cycle. ADA Price Action: Key Levels To Watch Cardano (ADA) is currently trading at $1, following an 18% drop from its $1.16 local high set last Friday. The recent decline has raised concerns among investors as ADA hovers near the critical psychological level of $1. Holding this level is crucial for bulls to regain momentum and prevent further downside in the short term. To reclaim bullish momentum, ADA must not only maintain support at the current levels but also push decisively above the $1.11 resistance in the coming days. Breaking through this level would signal renewed strength and could pave the way for a recovery toward higher targets, boosting investor confidence in the process. Related Reading: Dogecoin Trades Within Multi-Year Ascending Channel – Expert Sets $15 Price Target However, the risk of a deeper correction remains if ADA fails to defend the $1 mark. Losing this key psychological support could trigger a wave of selling pressure, potentially resulting in a drop of up to 15% in the short term. Such a move would likely test lower support zones, challenging Cardano’s recent resilience. Featured image from Dall-E, chart from TradingView. -
Cardano Price Bounces From Key Support Level, But There’s Still A Risk To Crash To $0.85
Positive price action in the past 24 hours has seen Cardano (ADA) rebounding upwards alongside the rest of the crypto market. The entire market is up by 4.3% in the past 24 hours, a trend that has seen the Cardano price also breaking above the $1 mark again. Interestingly, Cardano’s recent break above $1 comes just hours after it bounced on a support zone around $0.92-$0.95. Despite this break, technical analysis shows that there remains a risk of a Cardano price crash in the short term. Key Support Zone Interaction Near $0.92-$0.95 A technical analysis of Cardano’s 4-hour candlestick chart, shared by crypto analyst melikatrader94 on TradingView, highlights a compelling confluence as Cardano attempts to regain upward momentum. The analysis identifies a support zone near $0.92-$0.95, which coincides with an upward-sloping trendline that has served as support for many weeks. Related Reading: Cardano Price Eyes Breakout To $6 After Bouncing From 43% Drawdown Cardano’s towards the support trendline is a notable decline after its price reached a peak around $1.16 on January 17. Furthermore, this reversal comes after the cryptocurrency experienced another upswing that began when it rebounded from the same upward-sloping trendline near $0.89 on January 13. These repeated interactions with the trendline and the support zone show the volatility surrounding Cardano’s price over the past days and the ongoing battle between bullish and bearish market participants. Since the analysis, Cardano has rebounded again just before reaching the upward-sloping trendline and is now on an upward move. As noted by the analyst, this move might push Cardano’s price back toward its recent highs near $1.10. If this upward momentum is sustained, ADA may also continue upwards until it reaches a key resistance zone between $1.10 and $1.15. A successful breach of this level would further reinforce the bullish outlook and the continuation of a broader uptrend. Risk Of Breakdown Toward $0.85 Or Lower For Cardano For the bullish scenario to play out, ADA needs to hold firmly above the support zone and along the ascending trendline. This alignment suggests a continuation of the upward trend that Cardano has been following since late 2024. Secondly, Cardano bulls would need to break above the resistance level highlighted between $1.10 and $1.15 in order to flip the level into support on the long-term. Related Reading: Possible Deep Correction Could Push Cardano Price To $0.43, Here’s How However, the intense volatility witnessed in the past few days opens up the possibility of a failure to hold above these levels. With this, the analyst warned that a decisive breakdown below the $0.92 level and the ascending trendline would invalidate the bullish outlook. Such a move could pave the way for a deeper correction and cause the Cardano price to drop toward $0.85 or even lower. At the time of writing, Cardano is trading at $1.02 and is up by 2% in the past 24 hours. Featured image from Adobe Stock, chart from Tradingview.com -
Expert Bullish On Cardano: Forecasts Explosive Rally To $3 Once This Resistance Is Broken
Cardano (ADA) has struggled to maintain the bullish momentum it experienced in recent weeks, with its price still trailing approximately 67% below its all-time high of $3.09, reached during the 2021 bull run. Despite this significant gap, analysts believe that the potential for a robust price recovery exists in the coming weeks and months ahead of the new year. Cardano Consolidates Above Key Moving Averages, Poised For Breakout Trend Rider, a prominent analyst on the social media platform X (formerly Twitter), provided insights on Cardano’s current price action, noting that the price dipped below the parabolic line, indicating a cooling-off period, which occurred just above the $1 mark last week. However, he emphasized that the Cardano price is consolidating above its moving averages, suggesting it is preparing for a potential breakout while “shaking out weaker hands.” Related Reading: World Liberty Financial Raises $1B: Trump-Backed Crypto Venture To Extend Token Sales Trend Rider further anticipates a resumption of bullish momentum soon, forecasting that once the Cardano price breaks through the $1.25 resistance level, it could rapidly surge toward the $3 mark, inching closer to its previous record peak. Adding to the optimistic outlook, analyst Ali Martinez pointed out that after experiencing a 44% correction, Cardano began its second leg up during the week of February 1, 2021. Given that ADA has already undergone a 43% correction recently, the analyst suggests that the next upward movement for ADA could be just two to three weeks away, with a target of $6 in sight. Analysts Identify Key Support And Price Targets Another analyst, AV Sebastian, also weighed in, suggesting that the price recent dip may be over, and that the Cardano price is poised to break out of a triangular pattern. He highlighted the last two candles as particularly bullish and expects a significant rally in the coming days. In analyzing short-term price actions, several analysts noted that ADA is exhibiting a “very bullish market structure” on the daily timeframe. On the chart is observed a double bottom formation leading to a breakout and a V-shaped recovery along a descending channel. Related Reading: Big Players Bet Big On XRP, Solana With Excitement Around Donald Trump’s Presidency, Here Are The Figures It is further believed that a retest of the key support zone at $1.3886 appears inevitable for ADA’s price in the near-term, which would then lead to price uptrend with a main target of $1.7748. Further support zones have also been identified, with the $0.824 level being crucial to watch early in 2025. Holding this support could unlock significant upside potential, and analysts are eyeing May 2025 as a key timeframe for achieving targets. At the time of writing, ADA was trading at $1.14, up 1.13% for the 24-hour period. Featured image from DALL-E, chart from TradingView.com -
Cardano Price Eyes Breakout To $6 After Bouncing From 43% Drawdown
The Cardano price is targeting a bullish breakout to $6 after experiencing a bounce from its initial 43% downturn. While other cryptocurrencies like XRP and Bitcoin (BTC) recorded massive gains in this bull market, Cardano (ADA) maintained a relatively muted price last year, experiencing significant volatility. Despite this, analysts remain bullish on ADA, emphasizing its potential for a substantial price recovery and a surge to new ATHs. Cardano Price Targets $6 ATH Ali Martinez, a prominent crypto analyst on X (formerly Twitter), shared a bullish price prediction for Cardano, forecasting a massive surge to $6. The analyst compared the similarities in ADA’s current price movement to historical patterns. He shared two parallel price charts of Cardano depicting its price action from 2018 to 2021 and 2022 to 2025. Related Reading: Machine Learning Algorithm Predicts Dogecoin Price From January To December 2025 In the left chart, ADA traded within a sideways accumulation zone, highlighted by the rectangular box, before experiencing a breakout above $0.14. Following the breakout, Cardano’s price corrected by about 43.6%, a massive decline that pushed its value below the $0.1 mark. As is often seen among cryptocurrencies, Cardano’s significant price crash established a solid foundation for a notable rally. After its substantial decline, the cryptocurrency initiated a significant price rally, reaching a peak of approximately $3.08. This remarkable price surge represented a gain of over 4,095%. In the right chart, Martinez identifies a similar sideways accumulation pattern between 2022 and 2023 of this year’s bullish cycle. Following this, Cardano broke out to reach a new price high of $0.8. After this, the altcoin underwent a 42.65%, mirroring the crash in 2021. Based on the historical fractal, Martinez predicts that Cardano could soon initiate its second leg up, potentially mimicking its impressive price rally in 2021 within the next two to three weeks. As a result, the analyst has set a bullish target for Cardano at above $6, marking a significant gain of 2,220.68%. While historical patterns do not accurately predict future price movements, they can provide insights into market trends, conditions, and other factors. Martinez’s bullish prediction for the Cardano price relies on the assumption that it can repeat similar market behavior and conditions during its 2021 bull rally. Related Reading: XRP Price Rallies To ATH At $3.4, Here’s What’s Driving It And Why The Pump Will Continue Update On ADA Price Analysis As mentioned earlier, the Cardano price declined severely last year despite bullish sentiment spreading to other altcoins in the market. In the last few weeks, ADA seemed to be recovering from bearish trends, as CoinMarketCap’s data showed a price increase of 16% over the past week. Cardano also experienced notable price gains in the last month, rising by over 10%. Although its price has reclaimed its $1 mark, ADA’s momentum seems to be fading, as the cryptocurrency has pulled back, recording a decline of 4% over the last 24 hours. Featured image created with Dall.E, chart from Tradingview.com -
Cardano Price To $6? Historical Data Says ADA Is Ready To Take Off
With the bearish pressure in the cryptocurrency market dissipating, large-cap altcoins are showing good signs of recovery. Cardano, specifically, has quickly established itself as one of the best-performing assets in the crypto market in 2025. After the downside pressure over the past few weeks, the Cardano price finally reclaimed and held above the $1 mark in the past week. The question now is — what’s the next move for the ADA token? Is A 400% Rally On The Cards For ADA Price? In a recent post on social media platform X, popular crypto analyst Ali Martinez shared the next step for the Cardano price after the latest downturn. The crypto pundit revealed the price fractals that could see the ADA token move to as high as $6. Related Reading: Crypto Fear And Greed Index Barrels Toward Extreme Greed Again As Bitcoin Price Clears $101,000, Is This Good News? In technical analysis, fractals refer to recurring patterns on a price chart. Typically, the patterns provide insight into historical price movements and can be used to predict the future trajectory of a cryptocurrency. After a 44% correction, #Cardano $ADA began its second leg up during the week of February 1, 2021. Now, #ADA has already undergone a 43% correction, suggesting the next leg up could be just two to three weeks away. $6 next! pic.twitter.com/xyvwZxdOFf — Ali (@ali_charts) January 17, 2025 Martinez revealed that the price of Cardano is currently at a point similar to where it was four years ago. After breaking out of the consolidation range in late 2020, the altcoin surged to around $0.4 before February 2021. However, the ADA price hit a roadblock around $0.4, falling by more than 40% before continuing its upward trend. The price of Cardano eventually soared to above $3 — the current all-time high — in this cycle. Martinez explained that the ADA token, having just experienced an almost identical 40%, might be on the verge of a bullish breakout. The analyst said that the next move up for the altcoin could be “just two to three weeks away.” Using the historical price data, Martinez predicted that the price of Cardano could push to as high as $6, setting a new record high. This would represent an impressive 400% surge from the current price point. Cardano Price At A Glance As of this writing, the Cardano token is valued at $1.15, reflecting an almost 5% increase in the past 24 hours. According to data from CoinGecko, the ADA price is up by more than 20% in the last seven days. Related Reading: ‘Solana Season Is About To Return’ As Price Turns Key Resistance Into Support – Analyst Featured image from Solodev, chart from TradingView -
Cardano Whales Go On A Shopping Spree – 100 Million ADA in 48 Hours
Cardano is at a pivotal moment, striving to hold the $1 mark as a key support level to sustain its upward momentum. The altcoin has experienced significant volatility in recent trading sessions, with a dramatic 15% drop followed by an impressive recovery of over 20% within just 24 hours. This rapid price action has brought renewed attention to ADA, as investors assess its potential for further gains. Related Reading: Solana Reclaims Key Levels Amid Market Volatility – Reclaim $210 And New Highs Are Next Top analyst Ali Martinez has shared crucial insights, revealing that whales have accumulated 100 million Cardano (ADA) in the past 48 hours. This significant buying activity by large holders underscores growing confidence in ADA’s long-term potential and its ability to maintain its bullish trajectory. Cardano’s attempts to establish stability above $1, a psychological and technical level that could act as a springboard for further rallies. Investors are closely watching this level, as holding it as support could signify a strong foundation for ADA to challenge higher resistance zones. Cardano Finds Strength To Rise After a recent sharp drop, Cardano (ADA) is showing resilience, finding the strength to rise and eyeing a push above last year’s high of $1.32. This recovery has sparked optimism among analysts and investors, many of whom are calling for a significant rally. Cardano is increasingly viewed as a strong contender to become a market leader, driven by its robust development ecosystem and expanding use cases. Top analyst Ali Martinez has shared compelling data highlighting growing interest from smart money investors. Posting on X, Martinez revealed a chart showing that whales have accumulated 100 million ADA over the past 48 hours. This substantial purchase underscores confidence among large holders that current price levels present a valuable buying opportunity, setting the stage for further upward momentum. This surge in whale activity aligns with broader expectations for Cardano to capitalize on its technological advantages and potential as a leader in the blockchain space. The cryptocurrency’s ability to attract significant capital from institutional and high-net-worth investors reinforces its potential to outperform in the coming months. Related Reading: Chainlink Weekly Chart Looks Promising – If Bulls Reclaim $30 ‘ATH Are Next’ Cardano’s next challenge will be reclaiming key resistance at $1.32. Successfully breaking this level would likely trigger a substantial rally, potentially propelling ADA into a new bullish phase. The coming days will be pivotal in determining whether Cardano can sustain this momentum and fulfill its promise of becoming a market frontrunner. ADA Bulls Eye Key Levels Cardano (ADA) is currently trading at $1 after briefly reaching $1.05 earlier in the session. The price is consolidating and seeking support at the psychologically significant $1 level. If this key support holds, the next target for ADA is $1.15, a resistance level that could open the doors to further gains. Market sentiment around ADA remains cautiously optimistic. As a result, holding the $1 mark would signal strong demand and set the stage for a potential surge as bullish momentum builds. A breakout above $1.15 could lead to an extended rally, potentially revisiting previous highs and entering a new bullish phase. However, losing the $1 support would suggest that demand is faltering. In this scenario, ADA could see a drop to its next major support level around $0.91, putting additional pressure on bulls to regain control. Related Reading: Ethereum Is Forming A 1-Hour Symmetrical Triangle – Bullish Breakout Or Deeper Correction? The coming days will be crucial for ADA as it tests its ability to sustain current levels. Therefore, traders and investors are closely watching for signs of strength or weakness that could dictate the altcoin’s short-term trajectory. Whether Cardano can maintain its footing above $1 will determine whether the recent recovery evolves into a sustained rally or another period of consolidation. Featured image from Dall-E, chart from TradingView