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ADA Bullish Prediction: Can Cardano Repeat Its Historic 240% Rally?

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Aside from a few impressive but relatively brief upticks during the late 2024/early 2025 rally, Cardano’s native token has mostly underperformed in the last cycle.

While many other large-cap altcoins, alongside the market leader, managed to break their previous all-time highs last year, ADA remained far from such a feat. Its subsequent decline was also quite painful, as it now trades over 90% below its record price seen in 2021. It’s also out of the top 10 alts by market cap, slipping to the 15th spot on CoinGecko.

However, popular analyst Ali Martinez noted that it has maintained a key level that has historically led to impressive price rallies, including one of triple digits.

ADA to Bouce by 240%?

The support level in question is at $0.25, according to the analyst. In early 2023, ADA managed to rebound swiftly from it after the major correction at the time, and jumped by 85% in a relatively short period of time. Although that’s an impressive feat, the September 2023 rally of 243% was even more profound after a successful bounce from that line.

Martinez noted that the asset stands firm above that level now, currently trading $0.27 after it was rejected at $0.30 earlier this week. His short-term target is set at $0.36, while the secondary, more macro target, is all the way up to $0.53. It’s worth noting that ADA hasn’t seen such high levels in over half a year.

No Downside Pressure?

Fellow analyst CW weighed in on how investors are positioning on ADA’s futures market. They noted that there has been a notable uptick in long position net buying, which led to a minor price increase for the asset.

Moreover, CW believes ADA’s momentum continues, and there’s no evident downside pressure yet.

Pos ADA Bullish Prediction: Can Cardano Repeat Its Historic 240% Rally? muncul pertama kali di CryptoPotato.

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