This resurgence comes even as ADA whales have trimmed their holdings to 5.46 billion tokens.
According to crypto analyst Ali Martinez, investors holding between 1 million and 10 million ADA offloaded over 140 million tokens, roughly worth $120 million, in the past two weeks.
Popular analyst Clifton predicts that ADA could rally further in the coming days.
Meanwhile, crypto commentator Bitcoinsensus noted a repeating bullish scenario. He pointed out that Cardano’s prior uptrend saw a 360% rally from $0.511 in June 2024 to $1.33 in December 2024.
Bitcoinsensus believes that ADA is gearing up for another breakout and could potentially surge 260% from June’s lows to $1.86. If this price target is hit, it would represent a 110% price rally from current levels.
ADA Price to Surge?
On the daily ADA price chart, the RSI is suggesting room to move higher before reaching overbought conditions.
ADA price chart with RSI and Bollinger Bands. | Source: Trading View
The Bollinger Bands show the price approaching the upper band, which can act as resistance but also indicates volatility and momentum.
If ADA fails to sustain above the lower band around $0.78, it may slide back to $0.75 or lower, signaling bearish pressure.
Meanwhile, the MACD has recently crossed above the signal line, pointing to increasing bullish momentum. If ADA holds above key support at $0.85, traders could see bullish scenarios targeting $1.05 and eventually $1.20.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.