Is Cardano on the Verge of Reaching $6? Historical Data Suggests ADA Could Take Off
As the bearish pressure in the cryptocurrency market eases, prominent altcoins are displaying positive signs of recovery. One such standout performer is Cardano, which has emerged as a top asset in the crypto market in 2025.
Following a period of downward pressure in recent weeks, the Cardano price has successfully reclaimed and sustained above the $1 threshold over the past week. Now, the focus shifts to the next steps for the ADA token.
Could ADA Price Rally by 400%?
Renowned crypto analyst Ali Martinez recently shared insights on the future trajectory of the Cardano price following the recent market downturn. Martinez highlighted potential price fractals that could propel the ADA token to reach $6.
In technical analysis, fractals signify recurring patterns on price charts that offer insights into past price movements and aid in predicting future trends for a cryptocurrency.
After a 44% correction, Cardano ADA began its second upward move during the week of February 1, 2021. With a 43% correction already completed, the next leg up could be just a few weeks away. Next target: $6!
Ali (@ali_charts) January 17, 2025
Martinez noted that the current Cardano price mirrors a point from four years ago. After breaking out of a consolidation range in late 2020, the altcoin surged to nearly $0.4 before February 2021.
Despite encountering resistance around $0.4, the ADA price experienced a sharp 40% decline before resuming its upward trajectory, eventually reaching an all-time high above $3 in the current cycle.
According to Martinez, the ADA token, following a similar 40% dip, could be on the cusp of a bullish breakout, with a potential upward move anticipated in the next two to three weeks.
Leveraging historical price data, Martinez predicts a surge in the Cardano price to $6, marking a substantial 400% increase from its current level.
Cardano Price Overview
At present, the Cardano token is priced at $1.15, reflecting a nearly 5% rise in the last 24 hours. Data from CoinGecko reveals that the ADA price has surged by more than 20% over the past week.
Related Reading: Solana Season Is About To Return As Price Turns Key Resistance Into Support Analyst
Featured image from Solodev, chart from TradingView
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