Cardano Nears Major Upside Move as Market Leads Gains; ADA to $4 in Weeks?

The cryptocurrency Cardano is approaching a major bullish move, as highlighted by a technical analysis, amid the recent rally in recent days, leading the market gains. Will ADA hit $4 in the coming weeks? A renowned cryptocurrency analyst has noted the potential breakout towards new highs for the token.

O cryptocurrency market today is showing considerable increases in asset prices, with emphasis on Cardano's ADA token, which is following a rally of over 12% for the second consecutive day. With the dizzying rise, Cardano is leading the gains among the main cryptocurrencies this Friday (3).

When analyzing the price action of ADA, cryptocurrency analyst, Ali Martinez, observed that the asset is forming a pattern seen in the last cycle, suggesting a strong bullish momentum soon. According to the analysis, Cardano could see a push to $4 within weeks and set a new all-time high in its price.

“Cardano $ADA is forming like the last cycle, making me think a big move is coming. A push to $4 could happen within a few weeks!” he wrote.

Source: TradingView/Ali Martinez

Cardano saw its price surge by over 14% today, surprising many investors and crypto enthusiasts. In its weekly development, the asset has seen a gain of over 20%. At the time of publication, Cardano’s price is trading at $1,09, up 14.8% in the last 24 hours. During this period, Cardano (ADA)’s trading volume was $2.202.788.503, representing a 46,10% increase from a day ago and signaling a recent surge in market activity.

The highest price paid for Cardano was $3,09, recorded on September 2, 2021 (over 3 years ago). Comparatively, the current price is 64,60% lower than the all-time high.

Cardano Rally to $3? Correction Opens Doors for New Growth and Ambitious Targets in 2025

Michaël van de Poppe, founder of MN Consulting and a well-known figure in the cryptocurrency world, expressed an optimistic view on the future of Cardano According to him, this recent correction is not a cause for alarm, but rather a natural part of ADA’s bullish cycle, paving the way for a new upward movement. Van de Poppe believes that Cardano is approaching the end of its corrective phase, paving the way for a new upward cycle.

“The scenario remains the same. A very heavy run up and a 40% correction. I think we are reaching the end of this correction, through which I expect a new leg up for things like $ADA,” the analyst wrote.

Long-term projections for Cardano’s price are quite encouraging. Van de Poppe suggests that ADA has the potential to reach new all-time highs by 2025, with possible price targets between $2,50 and $3,00 if market conditions remain favorable for the asset and the bullish momentum continues.