Analyst Highlights Cardano’s 200% Surge In Recent Weeks, ADA To Reach Unimaginable Heights?
Technical and on-chain analyst Ali Martinez recently shared a post on X highlighting Cardano’s nearly 200% rise over the past three weeks. However, he said that was nothing compared to what was to come. Cardano appears poised to rally to new highs amid broader market optimism and altcoin momentum.
Cardano reflects on previous bullish cycle
Analysts noted that whales and institutional players have prepared for what is coming. Remarkably, large transaction volume on the Cardano network has exceeded $22 billion per day. He noted that these large transactions appear to be associated with high accumulation levels. Over the past month, whales holding ADA have grown from $1 million to over $10 million, with their holdings increasing by more than 100%.
Analysts noted that high buying pressure is starting to affect the price and from a technical perspective, Cardano appears to be mirroring its previous bullish cycle. He said that if this model holds, ADA may target $6. He noted that the key support level to watch for the bullish argument is $0.80, where 48,000 addresses purchased nearly 1.2 billion ADA. It is currently trading at $0.9686, up more than 20% in the past 24 hours.
DOGE jumps 5%
While Bitcoin is rapidly approaching the long-awaited $100,000 mark per coin, various altcoins including Dogecoin are still rising. It hit $0.4126 early Friday afternoon, its highest level in more than a week. It is currently trading at $0.4092, up more than 6% in the past 24 hours.
DOGE rose 5%, back to multi-year highs set earlier this month, following speculation surrounding X’s long-awaited payments service. Notably, Musk posted a screenshot of podcaster Joe Rogan’s X profile, which included a different dollar icon than the app’s tipping service. X users speculative It may be used to send money as part of X Payments.
XRP leads the way
XRP is one of the leaders, with its price surging on the news that Gary Gensler will officially resign in January. XRP is currently trading at $1.45, having gained over 23% in the past day.
