Analyst Predicts Cardano Boost To $40 ADA Price, Suggests Current Prices Will Never Be Seen Again

Cardano (ADA) experienced a historical price surge over the weekend, skyrocketing by around 76% in a single day after President Trump mentioned the creation of a U.S. Crypto Strategic Reserve, which included ADA as one of its key assets.

Just hours after the announcement, ADA experienced an impressive surge, jumping from a low of $0.64 to a high of $1.13, quickly capturing the attention of both investors and analysts. This surge sparked a spike in demand for the cryptocurrency, with daily trading volume skyrocketing by over 2,000% in just 24 hours, but also fueled a wave of optimism. Late Monday, analyst Ali Martinez noted that the largest ADA whales on the network acquired a staggering 420 million ADA within the same period.

Meanwhile, analysts are forecasting even higher potential for ADA’s price. In a tweet late Sunday, analyst Gert van Lagen set an ambitious target for ADA by applying the Elliott Wave principle to a monthly chart. He suggested that the cryptocurrency could surge to as high as $40 before experiencing a correction back to around $6.

“The blue scenario just got a way higher relative likelihood than the black scenario” he wrote, suggesting this could be the last chance to buy ADA at current prices.

Elsewhere, analyst Ali Martinez, suggested that ADA might soon break its $1.19 resistance level and could potentially double in price within a short timeframe. He emphasized that a 12-hour candlestick close above $1.19 would solidify the bullish outlook.

Meanwhile, analyst Lord Durden pointed to a “gigantic cup and handle” pattern in ADA’s chart, suggesting the cryptocurrency could surge as high as $12, indicating that ADA could be on the verge of a major breakout.

Beyond technical analysis, Cardano’s growing momentum is reflected in onchain data. According to Messari’s Q4 2024 report, daily active addresses have risen by 45% since the start of the year, while dApp deployments have surged by 60%, particularly in DeFi and NFTs. Additionally, data from DeFi Llama shows a sharp increase in Cardano’s Total Value Locked (TVL), rising from $324 million since March 1 to around $460 million presently, signaling heightened interest in the ecosystem.

Furthermore, the potential launch of Cardano spot exchange-traded funds (ETFs) in the U.S. has created a growing sense of optimism with analysts seeing increasing opportunities for ADA, particularly with its unique position as an energy-efficient, scalable blockchain. The possibility of ADA benefiting from further ETF growth, particularly for institutional investors seeking exposure to Cardano, could fuel additional demand for the cryptocurrency in the coming months.

Meanwhile, following the announcement of the U.S. Crypto Strategic Reserve, prominent figures in the Cardano community, including founder Charles Hoskinson, have been calling for the Gemini exchange, one of the largest crypto exchanges in the U.S., to list ADA. A potential listing on Gemini could provide yet another boost to ADA’s price and market visibility.

ADA was trading at $0.97 at press time, reflecting a 14.91% surge in the past 24 hours.