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<ul class="wp-block-list">
 <li>Cardano drops 22.47% weekly to $1.01 amid market correction</li>
 <li>Martinez identifies pattern similarity with 2020/2021 bull run</li>
 <li>Analyst maintains $4-$6 price target for mid-2025</li>
</ul>
<p>Despite <a href="https://thenewscrypto.com/?s=Cardano" target="_blank" rel="noopener noreferrer nofollow">Cardano’s</a> recent 14.60% daily decline to $1.01, prominent crypto analyst Ali Martinez maintains his bullish outlook, drawing compelling parallels between current market conditions and the asset’s historical performance during the 2020/2021 bull market cycle.</p>
<h2 class="wp-block-heading" id="h-the-historical-cardano-pattern-perspective">The Historical Cardano Pattern Perspective</h2>
<p><a href="https://x.com/ali_charts/status/1866346604858421623" target="_blank" rel="noopener noreferrer nofollow">Martinez’s analysis</a> centers on a fascinating historical parallel: during the COVID-19 market crash of 2020, Cardano experienced a significant 56.2% drawdown before launching into an extraordinary 4,095% rally that eventually reached $3. This historical movement was characterized by distinct phases of consolidation followed by explosive price appreciation.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> is doing the same as it did in 2020, which is why I'm buying! Even if it dips down to $0.76, I'm buying more and plan to book profits between $4 and $6. <a href="https://t.co/8ZKuRz7RqG" rel="noopener noreferrer nofollow">pic.twitter.com/8ZKuRz7RqG</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1866346604858421623?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 10, 2024</a>
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<p>The current market structure, according to Martinez’s analysis, shows remarkable similarities to this previous pattern. The recent consolidation phase and subsequent 75% rally mirror the early stages of <a href="https://thenewscrypto.com/?s=ADA" target="_blank" rel="noopener noreferrer nofollow">ADA’s </a>previous bull cycle, suggesting the potential for a similar trajectory in the current market.</p>
<p>Looking forward, Martinez has outlined ambitious yet technically supported price targets between $4 and $6, representing potential gains of 296.03% and 494.05% respectively from current levels. The analyst’s timeline places these targets around July 14, 2025, providing a specific framework for this predicted appreciation.</p>
<p>This forecast aligns with other notable predictions in the crypto space, including Max Maher’s August projection of $4.29. The convergence of multiple analysts around similar price targets adds credibility to the bullish thesis.</p>
<p>The recent market downturn has brought ADA to test critical support at $1.01, where on-chain data shows significant accumulation with 41,720 addresses holding 1.03 billion tokens. This level represents the next major technical and psychological support following the breach of the $1.20 level, where 93,000 wallets had accumulated 2.54 billion ADA.</p>
<p>Martinez’s continued commitment to accumulation, even at potentially lower levels of $0.76, demonstrates strong conviction in Cardano’s long-term value proposition despite current market turbulence. His analysis suggests that current price levels may represent strategic entry points for investors sharing his long-term bullish outlook.</p>

Cardano Historical Patterns Signal Potential 494% Rally by Mid-2025

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