Cardano price a. is targeting Bullish breakout to $6 after experiencing a rebound from its initial 43% decline. While like other cryptocurrencies XRP And Bitcoin (BTC) Posting big gains in this bull market, Cardano (ADA) maintained a relatively muted price last year, experiencing significant volatility. Despite this, analysts remain Accelerate on the ADAemphasizing its potential for a significant price recovery and rise to new ATHs.
Cardano’s price target is $6 ATH
Ali Martinez, a lead crypto analyst at X (formerly Twitter), shared A bullish price prediction for Cardano, predicting a big rise to $6. The analyst compared the similarities Current price activity of ADA to historical patterns. He shared two parallel price charts of Cardano showing its price action from 2018 to 2021 and 2022 to 2025.
Related reading
In the left chart, ADA traded within a sideways accumulation zone, highlighted by the rectangular box, before experiencing a breakout above $0.14. After the breakout, Cardano price corrected By about 43.6%, a massive drop that pushed its value below the $0.1 mark.
As is often seen in cryptocurrencies, Cardano’s significant price crash laid a solid foundation for a significant rally. After its considerable decline, the cryptocurrency began a Significant price rallyreaching a peak of around $3.08. This remarkable price increase represents an increase 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. After this, Cardano reached a new price of $0.8. After that, the altcoin gained 42.65%, indicating a crash in 2021.
is based on Historical fractalsMartinez predicted that Cardano could soon begin its second phase within the next two to three weeks, mimicking its impressive price rally in 2021. As a result, the analyst a Acceleration target for Cardano Above $6, representing a significant gain of 2,220.68%.
Although historical patterns do not accurately predict future price movements, they can provide insight into market trends, conditions and other factors. of Martinez Bullish prediction for Cardano price Depending on the assumption that it can repeat similar market behavior and conditions during its 2021 bull rally.
Related reading
Update on ADA price analysis
As mentioned earlier, the price of Cardano fell sharply last year, despite the rapid expansion of other altcoins in the market. In the past few weeks, ADA was recovering From bearish trends, as data from CoinMarketCap showed a 16% price increase in the past week. Cardano also experienced Significant price advantage In the last month, there has been an increase of more than 10%.
Although its price has reclaimed its $1 mark, ADA momentum seems to be fadingAs the cryptocurrency has pulled back, a 4% drop has been recorded in the past 24 hours.
Dall.E, featured image created with charts from Tradingview.com
