Expert Forecasts $6 Price Target As Buying Pressure Grows
Cardano (ADA), currently ranked as the ninth largest cryptocurrency, has become one of The market’s top performer. An impressive 108% increase over the past two weeks, A wave of bullish sentiment following Donald Trump’s election as president on November 5 drove prices to 32-month highs.
Cardano on track to hit new all-time highs
Cryptocurrency analyst Ali Martinez recently highlighted ADA’s role in Post on X (formerly Twitter) noted that the cryptocurrency has surged nearly 200% in the past three weeks. Despite the significant growth, Martinez said even bigger gains may be on the horizon.
In his analysis, Martinez noted that whales and institutional investors have strategically positioned themselves for future price movements. He reported that the large amount trade Daily trading volume on the Cardano network has exceeded $22 billion, indicating a high level of accumulation among significant holders.
Notably, whales – individuals or entities holding between $1 million and $10 million in ADA – have increased their positions by more than 100% in the past month, indicating their confidence in Cardano’s potential.
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Martinez further elaborated on ADA’s price action, suggesting continued buying pressure is reflected in Previous Bullish Cycles. He believes that if this trend continues, the price of Cardano could reach the $6 mark, which is almost double the all-time high of $3.09 set during the 2021 bull run.
Such a price increase would see a 461% surge from current levels. However, Martinez emphasized the importance of $0.80 support for this bullish thesis to hold.
Analysts noted that approximately 48,000 ADA addresses purchased nearly 1.2 billion tokens at this price point, which could provide a solid foundation for future growth.
Previously, Martinez Predictive If history repeats itself, Cardano price could reach a market top in September 2025, meaning this 10-month period could be one of the biggest gains for ADA and the broader crypto market.
ADA price targets resistance at $1.25
Further support for Martinez bullish forecastother analysts have weighed in on Cardano’s (ADA) recent performance. Rekt Capital noted an “amazing run” by ADA, suggesting the cryptocurrency has confirmed a new macro uptrend.
rectangle Highlight The last time ADA broke above the $0.72 level, the price subsequently rebounded to an all-time high of $3, suggesting similar growth potential in the future.
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Another analyst named Sssebi shared his insights predict Once ADA breaks above the $1.60 mark, it could quickly rise to $2.40. He emphasized that this upward momentum will lay the foundation for new all-time highs within reach.
However, analysts also warn The next area of resistance to watch is $1.25, which suggests that while the outlook is positive, a pullback is likely in the near term.
As of this writing, ADA is trading at $1.07, down 1% in 24 hours.
Featured images from DALL-E, charts from TradingView.com
