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Cardano (ADA), currently ranked as the ninth largest cryptocurrency, has emerged as one of the top performers in the market. It has experienced an impressive 108% increase in the past two weeks, pushed the price to a 32-month high, fueled by a wave of bullish sentiment following Donald Trump’s presidential victory on November 5.
Potential for Cardano to reach new all-time highs
Crypto analyst Ali Martinez recently highlighted ADA’s tremendous achievements in one message on X (formerly Twitter), noting that the cryptocurrency is up nearly 200% in the past three weeks. Despite this significant increase, Martinez suggests that even bigger gains may be on the horizon.
In his analysis, Martinez pointed out that whales and institutional investors strategically positioned themselves for future price movements. He reported that the volume of large transactions on the Cardano network has exceeded $22 billion per day, indicating a high level of accumulation among major holders.
In particular, 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, which is a sign of confidence in Cardano’s potential.
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Martinez further elaborated on ADA’s price action, suggesting that the continued buying pressure reflects patterns seen in the US previous bullish cycles. He states that if this trend continues, Cardano’s price could reach the $6 mark, which would almost double the all-time high of $3.09 reached during the 2021 bull run.
Such a price increase would represent a staggering 461% increase from current levels. But to make good on this bullish statement, Martinez emphasizes the importance of $0.80 support.
The analyst notes that approximately 48,000 ADA addresses have purchased nearly 1.20 billion coins at this price, which could provide a solid foundation for future growth.
Formerly Martinez predicted that if history repeats itself, Cardano price could see a market top in September 2025, signaling 10 months of what could be one of the biggest gains not just for ADA but for the broader crypto market.
ADA price is targeting a resistance level of $1.25
Further support from Martinez’s bullish predictionsother analysts have been assessing Cardano’s (ADA) recent performance. Rekt Capital has noted a “phenomenal run” for ADA, indicating that the cryptocurrency has confirmed a new macro upward trend.
Rekt marked that the last time ADA broke the $0.72 level, the price subsequently rose to its record peak of $3, suggesting similar potential for future growth.
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Another analyst known as Sssebi shared his insights to predict that once ADA crosses the $1.60 mark, it could see a rapid rise to $2.40. He emphasized that this upward momentum would pave the way for a record high to be within reach.
But so does the analyst warned that the next resistance area to watch is at $1.25, indicating that while the outlook is bullish, a retracement could occur in the near term.
At the time of writing, ADA was trading at $1.07, down 1% over 24 hours.
Featured image of DALL-E, chart from TradingView.com