Cardano to $2.50 by March 5?

• Cardano (ADA) shot up 72% on the Sunday daily candle post Trump’s crypto reserve statement.
• Analyst “CryptoELITES” put a peak bull run target of $12 for ADA with a mid-term target of $6.
• Gemini co-founder Tyler Winklevoss unveiled the possibility of listing ADA on his crypto exchange.

Cardano (ADA) has been at the center of extreme volatility, when it surged 72% on Sunday, only to see a 19.29% correction in the past 24 hours, bringing the price to $0.8053 as of writing. 

This extreme volatility has sparked renewed interest in ADA, fueled by the US President Donald Trump’s announcement about including the altcoin in the US Crypto Strategic Reserve.

Analyst Predicts Bullish Targets for Cardano

Crypto analyst “CryptoELITES” has mapped out bullish targets for Cardano, setting price targets of $2.50, $3, and $6. 

Further, the ultimate bull market target is at $12. The analyst shared a chart, and a closer look reveals a cup-and-handle formation. This is known as a bullish technical pattern that often comes before strong uptrends. 

Also, the co-founder of crypto exchange Gemini, Tyler Winklevoss, mentioned the possibility of listing Cardano in a post on X (formerly Twitter). A possible CEX listing could lead to a massive surge in the popularity of ADA and its prices.

Related: Altcoin Narratives Dominate: DeFi, L1s, AI Agents & Memes Fuel Crypto Rally

Cup and Handle Pattern Points to ADA Rally

The breakout from this pattern lines up with Fibonacci retracement and extension levels. This suggests that if ADA successfully breaks past the $1.81 resistance level (0.786 Fibonacci), it could start a rally toward these high price targets. The first key resistance is at $1.81, followed by $3.12 (the 1.0 Fibonacci level). 

A successful breach could send ADA toward the 1.272 Fibonacci extension at $6.45 and ultimately the 1.414 level at $9.35. The analyst envisions a full-fledged bull run pushing the price toward $12.

Technical Indicators Mixed for Cardano

Looking at the daily chart from TradingView below, from a technical viewpoint, the Relative Strength Index (RSI) is at 50.95, showing neutral momentum. However, a decrease from overbought levels indicates some cooling off after the recent rally. A consistent RSI above 50 could support a bullish continuation.

Related: China Mulls Strategic Bitcoin Reserve? Policy Shift Speculation Shakes Crypto Market

The MACD (Moving Average Convergence Divergence) shows a bullish crossover, with the MACD line (blue) above the signal line (orange), hinting at a potential uptrend continuation. However, if momentum weakens, ADA could experience a further pullback before resuming its upward trajectory.