Renowned crypto analyst Ali Martinez says Cardano (ADA) could have a 4,000% rally on the horizon. The analyst’s optimistic forecast follows recent ADA price increases.
Renowned crypto analyst Ali Martinez says Cardano (ADA) could have a 4,000% rally on the horizon. The analyst’s optimistic forecast follows recent ADA price increases.
ADA repeats historical trend
In an X post, Martínez emphasized that ADA’s current price movement follows historical patterns. The analyst claims that a 50% drop in the cryptocurrency’s price in the last month could be a golden opportunity for ADA, citing observations of historical patterns.
As a reminder, Martínez pointed to 2019, when Cardano consolidated into a parallel channel, marking the conclusion of the bear market. According to the analyst, ADA finally broke out of the channel after the period of stagnation, rising by 75%. The cryptocurrency subsequently experienced a 56% price correction, setting the stage for a surprising 4,095% bull run.
According to the analyst, this trend resembles the price movement of ADA in 2023. He highlighted that ADA came out of a parallel channel with a 72% increase and is now undergoing a 50% price correction. Given this trend, the analyst is optimistic that ADA could be heading towards a 4,000% rally.
While the analyst noted that history does not repeat itself, he says it often aligns. He concluded that ADA’s recent price correction could be one of the last dip buying opportunities that the cryptocurrency will provide to investors.
What’s next for the ADA?
According to the latest data from CoinMarketCap, ADA is trading at $0.4627, demonstrating a 1.86% price increase in the last day.
Market capitalization also increased 1.9% to $16.5 billion. However, trading volume decreased by 26.4% to $333 million, suggesting less selling pressure from investors.
The $0.5 mark remains a critical barrier that is both a technical and psychological pivot point. Given its recent performance, breaking this level could indicate a bullish outlook for ADA.
