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

Source Cryptopolitan

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.

Analyst Ali Martinez projects Cardano could reach $6 as early as September 2025

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 remarked:

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.

~Ali Martinez

He said all this while presenting a graph of his predictions. 

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

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 $69,506, representing more than a 64% rise in YTD price gains.

At the time of writing, the ADA price was only $0.351, 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.

Cardano’s whales have increased their holdings to about 2.94 billion

Santiment’s data 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.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum slides below $3,000 as sellers defend $3,020 and $2,880 becomes the key lineEthereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
Author  Mitrade
Jan 21, Wed
Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
placeholder
Gold moves away from record high as safe-haven demand fades on easing trade war concernsGold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
Author  FXStreet
Jan 22, Thu
Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
placeholder
Top 3 Price Forecast: BTC Shows Early Stabilization; ETH and XRP Still Look HeavyBTC trades near $89,900 after holding $87,787 support and eyeing the $91,942 50-day EMA, while ETH (~$2,964) remains capped below $3,017 and XRP (~$1.91) keeps downside risk toward $1.77 after failing to reclaim key levels.
Author  Mitrade
Jan 23, Fri
BTC trades near $89,900 after holding $87,787 support and eyeing the $91,942 50-day EMA, while ETH (~$2,964) remains capped below $3,017 and XRP (~$1.91) keeps downside risk toward $1.77 after failing to reclaim key levels.
placeholder
Bitcoin Slides Into Weekly Close as Bulls Confront $86K Price TestBitcoin has started to lose momentum as U.S. futures prepare for opening, with markets bracing for anticipated volatility catalysts. The cryptocurrency witnessed multi-day lows leading up to the end of the week, as investors face a looming period of macroeconomic uncertainty.
Author  Mitrade
Yesterday 02: 42
Bitcoin has started to lose momentum as U.S. futures prepare for opening, with markets bracing for anticipated volatility catalysts. The cryptocurrency witnessed multi-day lows leading up to the end of the week, as investors face a looming period of macroeconomic uncertainty.
placeholder
Cardano Price Forecast: ADA Selling Pressure Builds, Putting $0.27 Back in FocusCardano trades near $0.34 after three weeks of declines, with Binance futures open interest down to $108.55M and bearish RSI/MACD signals keeping risks tilted toward $0.32 and potentially $0.27.
Author  Mitrade
Yesterday 06: 19
Cardano trades near $0.34 after three weeks of declines, with Binance futures open interest down to $108.55M and bearish RSI/MACD signals keeping risks tilted toward $0.32 and potentially $0.27.
goTop
quote