Cardano

bullish

when

April

Cardano’s price is currently following similar patterns as its 2020 bullish rally, hinting at a potential spike to $6. Moreover, Cardano’s whale token accumulation is on the rise, jumping by over 47% in more than two years. 
Cardano holders have already augmented their holdings to over 2.94 billion ADA. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-analyst-ali-martinez-projects-cardano-could-reach-6-as-early-as-september-2025-span">Analyst Ali Martinez projects Cardano could reach $6 as early as September 2025</h3> 
According to Ali Martinez, an on-chain crypto analyst, Cardano’s current price trajectory looks increasingly similar to its 2020 price formation, signaling an impressive price surge for the token. The analyst pointed to the time when Cardano’s price began to rise on November 16, 2020, until August 2021, when it reached an all-time high of $3. 
In one of his posts, he <a href="https://x.com/ali_charts/status/1851134619422240926" rel="nofollow" target="_blank">remarked:</a> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 I believe Cardano (ADA) is following a similar pattern to 2020. If history repeats, we might see a pump around November 18—about two weeks after the US elections—and a potential market top by September 2025. <cite>~Ali Martinez</cite>
</blockquote> 
He said all this while presenting a graph of his predictions.&nbsp; 
<figure class="wp-block-image aligncenter wp-image-608338 size-full">
 <img loading="lazy" decoding="async" width="1946" height="893" class="wp-image-608338" src="https://www.cryptopolitan.com/wp-content/uploads/2024/11/Cardano-price-patterns-mirrors-2020-rally-eyes-6-surge-as-whale-accumulation-soars.png" alt="Cardano price patterns mirrors 2020 rally, eyes $6 surge as whale accumulation soars" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/11/Cardano-price-patterns-mirrors-2020-rally-eyes-6-surge-as-whale-accumulation-soars.png 1946w, https://www.cryptopolitan.com/wp-content/uploads/2024/11/Cardano-price-patterns-mirrors-2020-rally-eyes-6-surge-as-whale-accumulation-soars-300x138.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/11/Cardano-price-patterns-mirrors-2020-rally-eyes-6-surge-as-whale-accumulation-soars-1200x551.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/11/Cardano-price-patterns-mirrors-2020-rally-eyes-6-surge-as-whale-accumulation-soars-768x352.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/11/Cardano-price-patterns-mirrors-2020-rally-eyes-6-surge-as-whale-accumulation-soars-1536x705.png 1536w" sizes="(max-width: 1946px) 100vw, 1946px"> 
 <figcaption class="wp-element-caption">
 Source: TradingView
 </figcaption> 
</figure> 
The graph indicated that ADA could soon hit $6 by September 1, 2025, rising by over 1600% in less than a year. The forthcoming US elections would play a huge role in propelling the tokens’ prices, especially if a crypto-friendly candidate is elected. 
Some crypto assets, including Bitcoin, have already seen their prices surge. BTC is currently at <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener">$69,506</a>, representing more than a 64% rise in YTD price gains. 
At the time of writing, the ADA price was only <a href="https://www.tradingview.com/symbols/ADAUSD/" target="_blank" rel="noopener">$0.351</a>, marking a 1.96% loss in the last 24 hours and an 8% surge in the past week. Its 24-hour trading volume is 269.35 million, and its market capitalization is 12.28 billion. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-cardano-s-whales-have-increased-their-holdings-to-about-2-94-billion-span">Cardano’s whales have increased their holdings to about 2.94 billion</h3> 
<a href="https://santiment.net/" rel="nofollow noopener" target="_blank">Santiment’s data</a> shows that large Cardano holders have been on track to accumulate their holdings. Around mid-April 2022, token holders amassed roughly 100 million and 1 billion ADA in their wallets. 
Now, Cardano whales have accumulated over 2.94 billion ADA, marking a 47% rise since April 2022. Ideally, massive accumulation activity usually signals that the involved investors are eyeing possible price appreciations in the near future or even market reversals.

Cardano price patterns mirrors 2020 rally, eyes $6 surge as whale accumulation soars

Table of Contents

Cryptopolitan_News

Other articles published on Nov 2, 2024

Ripple (XRP) And Cardano (ADA) Flash Bearish Indicators, WallitIQ (WLTQ) Flashes 6,000% Bullish I...

Solana Whale Eyes Bullish Patterns in Catzilla (CATZ): Shiba Inu Rival Below $0.001

Can SEI Token Compete with Solana?

DWF Labs Dismisses Partner Amid Drink-Spiking Allegations in Hong Kong

GRASS Token Soars After Major Airdrop

Dogecoin & Binance Coin Prices vs. New Meme Coin Cutoshi’s Surge

Join our free newsletter for daily crypto updates!