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
Gold Price Forecast: XAU/USD recovers above $4,100, hawkish Fed might cap gainsGold price (XAU/USD) recovers some lost ground to near $4,105, snapping the two-day losing streak during the early European session on Friday. The precious metal edges higher on the softer US Dollar (USD).  Traders will take more cues from the Fedspeak later on Monday.
Author  FXStreet
Nov 17, Mon
Gold price (XAU/USD) recovers some lost ground to near $4,105, snapping the two-day losing streak during the early European session on Friday. The precious metal edges higher on the softer US Dollar (USD).  Traders will take more cues from the Fedspeak later on Monday.
placeholder
Ethereum Edges Toward Long-Term Holders’ Cost Basis, Now Only 8% Above Key Accumulation LevelEthereum is trading near $3,150 and just 8% above a key $2,895 long-term holders’ cost basis, with on-chain flows, macro uncertainty and support around $3,000–$2,800 all shaping what comes next for ETH.
Author  Mitrade
Nov 18, Tue
Ethereum is trading near $3,150 and just 8% above a key $2,895 long-term holders’ cost basis, with on-chain flows, macro uncertainty and support around $3,000–$2,800 all shaping what comes next for ETH.
placeholder
Ethereum Dips Below $3,000: Is the Bull Market at an End?Ethereum's price plunged below $3,000 for the first time in four months, marking growing concerns of a potential end to the bull market.
Author  Mitrade
Nov 18, Tue
Ethereum's price plunged below $3,000 for the first time in four months, marking growing concerns of a potential end to the bull market.
placeholder
Bitcoin Falls Below $90K: BitMine & Bitwise Executives Predict Market Bottom This Week​Bitcoin's recent drop below $90,000 may signal a market bottom, according to industry leaders.
Author  Mitrade
18 hours ago
​Bitcoin's recent drop below $90,000 may signal a market bottom, according to industry leaders.
placeholder
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP Look for a Foothold After a Sharp ShakeoutBitcoin trades near $92,600 after a dip below $90,000, while Ethereum around $3,118 and XRP near $2.21–$2.23 sit on key support zones, as BTC, ETH and XRP all try to turn a sharp correction into a tradable rebound rather than a deeper slide.
Author  Mitrade
17 hours ago
Bitcoin trades near $92,600 after a dip below $90,000, while Ethereum around $3,118 and XRP near $2.21–$2.23 sit on key support zones, as BTC, ETH and XRP all try to turn a sharp correction into a tradable rebound rather than a deeper slide.
goTop
quote