Cardano: The Road to $2 – When to expect?
The cryptocurrency market has been struggling for a while, with many assets unable to sustain any meaningful gains. Cardano (ADA) has followed this pattern, experiencing a strong rally over the past few months but ultimately losing over 6% in the last month. March has been particularly turbulent, with ADA surging to $1.13 before tumbling to $0.67. Despite this volatility, an analyst has sparked renewed optimism in the ADA community.
Cardano’s Current Performance
In the past 24 hours, Cardano has slipped by 2.52%, trading at $0.7115 at the time of writing. Earlier this year, the asset peaked at $1.32, but it remains significantly below that level. While ADA has repeatedly reached the $1 mark in the past, investors are now setting their sights on $2. This would require a 181% increase, a steep climb given the market’s sluggish momentum. However, analyst Ali Martinez has provided a bullish outlook, hinting that ADA may still have room to grow.
Can Cardano Reach $2?
Martinez has identified a bullish pattern on ADA’s daily chart, suggesting that a climb to $1.15 would confirm its breakout from a descending wedge. If this scenario plays out, the asset could push toward the $2 mark.
The last time Cardano reached $2 was in 2021, when it also hit its all-time high of $3.10. While reclaiming that peak seems unlikely in the short term, ADA’s potential inclusion in the US government’s Strategic Reserve could serve as a catalyst for significant price appreciation.
Editorial Team
Reporter at Coindoo
