Cardano Price Spikes Above $1 Amid Crazy Bullish Momentum Is ADAs Rally To $4 Just Getting Started?
Cardano, the industrys ninth-largest crypto by market cap has started 2025 on a roll, zooming past the $1 price milestone for the first time since Dec. 18, 2024.
This bullish price action above $1 begs the question: Is this ADAs breakout moment to new all-time highs, or is it just another speculative frenzy waiting to fizzle out?
Can ADA Maintain Its Bullish Edge?
The crypto market is riding high in the new year. Cardanos native cryptocurrency ADA stands out, surging 14.8% and surpassing the psychologically important $1 mark after weeks of sluggish consolidation.
You see, this is more than just a price point it could be a trigger for full-blown FOMO to kick in, attracting new money and spurring interest from investors seeking diversification.
At the time of writing, ADA had settled at around $1.09 after hitting an intraday high of $1.11 earlier today, according to CoinGecko. This technical breakout has sparked bullish sentiment, with spectators suggesting that Cardano is now set to continue its upward trajectory if it successfully flips $1 into robust support. If this happens, ADA may set the stage for a parabolic first quarter in 2025.
Meanwhile, the programmable Cardano blockchain is scheduled for multiple fundamental upgrades in the coming months, including the Plomin hard fork in Q1 2025. Developers are also currently working on further boosting Cardanos scalability and interoperability with other blockchain networks. These developments offer a promising outlook for ADA.
What ADA Charts Indicate
Popular analyst Ali Martinez has suggested a potential rally to $4 based on previous cycles. According to his analysis, Martinez is following a similar price pattern to its historical cycles.
For context, ADA jumped from $0.088 to $0.190 during the 2020 rally. The rally later fizzled, with the asset slumping to $0.12 lows. But after the pullback, ADA surged from a low of $0.173 on Nov. 16, 2020, to as high as $3.085 on Aug. 29, 2021. Therefore, if history is anything to go by, Cardano could be on the verge of a big move to $4 in the coming weeks.
Text source: ZyCrypto
