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Cardano (ADA), which currently ranks as the ninth largest cryptocurrency, has emerged as one of the Best performer on the market. It has seen a staggering 108% increase over the past two weeks, It pushed its price to a 32-month high, driven by a wave of bullish sentiment following Donald Trump’s presidential victory on November 5.
The possibility of Cardano reaching all-time highs
Cryptocurrency analyst Ali Martinez recently highlighted ADA’s phenomenal performance in Share on X (formerly Twitter), noting that the cryptocurrency has risen nearly 200% in the past three weeks. Despite this significant increase, Martinez notes that even greater 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 stated that the size is large Transactions On the Cardano network, it exceeded $22 billion per day, which indicates a high level of accumulation among large security 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 confidence in Cardano’s potential.
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Martinez also explained the price action in ADA, suggesting that the ongoing buying pressure mirrors the patterns observed in Previous bull cycles. It is assumed that if this trend continues, Cardano price may target the $6 mark, which would almost double its all-time high of $3.09 reached during the 2021 uptrend.
Such a price increase would represent a staggering 461% increase from current levels. However, for this bullish hypothesis to continue, Martinez emphasizes the importance of the support at $0.80.
The analyst notes that approximately 48,000 ADA addresses purchased approximately 1.20 billion coins at this price point, which could provide a solid foundation for future growth.
Formerly Martinez anticipation If history repeats itself, Cardano price could see a market peak by September 2025, signaling 10 months of what could be one of the biggest gains not only for ADA but for the broader cryptocurrency market.
ADA price targets the resistance level at $1.25
More support for Martinez Bullish outlookOther analysts weighed in on Cardano (ADA)’s recent performance. Rekt Capital noted a “massive run” for ADA, suggesting that the cryptocurrency has confirmed a new macro uptrend.
straight Highlight That the last time ADA broke through 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 thoughts Prediction That once ADA crosses the $1.60 mark, it could see a rapid rise to $2.40. He stressed that this upward momentum would pave the way to reaching the all-time high.
However, the analyst also to caution The next resistance area to watch is at $1.25, indicating that although the outlook is optimistic, a bounce could happen in the near term.
At the time of writing, ADA is trading at $1.07, down 1% over a 24-hour period.
Featured image of DALL-E, chart from TradingView.com