Analyst Reveals How Cardano Could Trigger a Bull Rally to $2

Analyst Ali Martinez identified a bullish breakout pattern in ADA, highlighting that the performing altcoin could continue its race toward the $2 mark.

Cardano price has faced a sharp pullback amid increased volatility in the crypto market, briefly falling below $0.83 before rebounding to approximately $0.88. The price drop represented a 5.8% decline over 24 hours. 

However, ADA maintained a 47.1% gain in the past week and remained 21% higher year-over-year, reflecting strong long-term momentum. As Bitcoin (BTC) and Ethereum (ETH) also experienced fluctuations, market participants closely monitor key indicators to determine ADA’s next potential move.

Cardano Price Poised for Rally to $2

For instance, Ali Martinez, an expert crypto analyst on X, highlighted a possible bullish breakout for ADA, citing a right-angled descending broadening wedge pattern in a recent analysis. According to Martinez, this pattern typically signals an impending breakout rally.

The overhead resistance for this formation stood at $1.14, and surpassing this level could trigger a high-momentum surge toward the $2 mark. 

This is how #Cardano $ADA can enter a bull rally to $2! pic.twitter.com/fMO3u3lVdc

— Ali (@ali_charts) March 7, 2025

Can Cardano Price Reach $12?

Meanwhile, another technical analysis from CryptoElites pointed to a cup and handle pattern, suggesting a continuation of ADA’s upward trend. The price had successfully broken out of a descending trendline, marking the end of a prolonged downtrend. 

A successful retest of the breakout zone signaled continued bullish momentum. The analyst outlined multiple price targets, including $2.50, $3, and $6, with a broader bull market target of $12. 

Increased Whale Transactions 

Recall that Cardano’s market activity showed a significant increase in large transactions. Blockchain analytics firm Santiment reported that whale transactions exceeding $100,000 reached a three-month high this week. The development coincided with ADA’s temporary surge to $1.13.

This increase in high-value transactions indicated renewed interest from large holders. The data further revealed that whale accumulation had been increasing over recent weeks, contributing to the asset’s resilience.

Additionally, the average age of ADA tokens in wallets declined as more tokens returned to circulation. Historically, a decrease in token age has signaled increased trading activity, often associated with heightened market volatility.

Notably, the rise in whale transactions aligned with shifting market sentiment, as on-chain data suggested increased engagement from long-term holders.