Cardano (ADA) has been primed for an unprecedented rally that would take it far beyond its price all-time high. According to renowned crypto market watcher Ali Martinez, Cardano seemed to be replicating a consolidation phase, which preceded a spike of about 2,980% in the past.
Martinez noted that all things being equal and going as planned, ADA would spike by approximately 1750% to achieve a new price high in the range of $6.5.
— Ali (@ali_charts) November 16, 2023
#Cardano's current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash!
Looking to trade this setup? Head… pic.twitter.com/u3KzOsZj2F
A Look Into Ali’s Shared Price Chart
Per the chart captioned by Ali in the tweet, the only difference between the present consolidation phase and the one that played out between 2018 and 2020 was the crash that ensued because of the COVID-19 pandemic.
Notably, the bull run that accompanied the consolidation period described saw ADA spike by various degrees in the first quarter of 2021.
Remarkably, ADA surged by about 100% within seven days, orchestrating the stage for a sustained bullish run that spiked ADA by approximately 2,980% to attain a $3.09 all-time high (ATH) in September 2021.
A closer observation of Ali’s shared chart indicated that the projected $6.5 might as well be a starting point for the unprecedented anticipated surge, as the price level denoted in it seemed to exceed $6.5.
It’s worth mentioning that the price chart indicated between July 2024 and July 2025 as a potential timeline for the price projection to play out.
We are on twitter, follow us to connect with us :- @TimesTabloid1— TimesTabloid (@TimesTabloid1) July 15, 2023
Resistance Levels In Martinez’s Price Trajectory Prediction
According to the crypto analyst, the first stiff resistance that Cardano would encounter in its part to attaining new price highs would be at the $0.45 level.
Notedly, since this year began, the last time ADA broke above the $0.45 price level was around mid-April. Since then, the token has remained below the $0.45 price level.
While the condition described above seemed to paint a complicated narrative of ADA exceeding the $0.45 price mark, Martinez confidently noted that the next powerful spike that would play out would see ADA break above $0.45 by the first week of December.
Martinez noted that after breaking above the key resistance level, the next target would be the $0.75 price level, which he stated would play out in late December.
Meanwhile, ADA is priced at $0.35 at the time of writing. So, increments to the projected $0.45 or $0.75 price levels would imply 28.6% and 114.3% spikes, respectively.
Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.
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