Cardano (ADA) Sees 108% Surge, Analysts Predict $6 Price Target
Cardano (ADA), ranked ninth among cryptocurrencies, has seen a 108% price increase over the past two weeks, reaching a 32-month high. This surge followed Donald Trump’s presidential victory on November 5.
Potential For Cardano To Reach New All-Time Highs
Crypto analyst Ali Martinez reported that ADA surged nearly 200% in three weeks and suggested further gains may be possible. He noted significant accumulation by whales and institutional investors, with daily large transactions on the Cardano network exceeding $22 billion.
Whales—holders of $1 million to $10 million in ADA—have increased their holdings by over 100% in the last month, indicating strong confidence in Cardano's future.
Martinez indicated that current buying patterns resemble previous bullish cycles. If this continues, ADA could target $6, nearly double its all-time high of $3.09 from the 2021 bull run, representing a potential 461% increase from current levels. For this scenario to materialize, maintaining support at $0.80 is crucial.
Approximately 48,000 ADA addresses have acquired nearly 1.20 billion coins at this price, providing a solid foundation for growth. Martinez previously predicted a market peak for Cardano by September 2025, suggesting significant gains ahead for ADA and the broader crypto market.
ADA Price Targets $1.25 Resistance Level
Supporting Martinez's predictions, analyst Rekt Capital noted ADA’s confirmation of a new macro uptrend, following a “phenomenal run.” He highlighted similarities between the current price movement and the past rally after breaking through the $0.72 level, which led to a peak of $3.
Analyst Sssebi predicted that if ADA exceeds $1.60, it could quickly rise to $2.40, paving the way for a new all-time high. However, he cautioned that $1.25 is a key resistance level, and a retracement may occur shortly.
At the time of writing, ADA was trading at $1.07, reflecting a 1% decrease over the past 24 hours.
Featured image from DALL-E, chart from TradingView.com