Eyes on $2 and Beyond

• Cardano experienced a sharp pullback, briefly falling below $0.83.
• Despite recent volatility, ADA has gained 47.1% over the past week and remains 21% higher year-over-year.
• Analyst Ali Martinez identified a bullish right-angled descending broadening wedge pattern, with overhead resistance at $1.14.

Cardano (ADA) has been making headlines as it is showing signs of strong long-term recovery. After experiencing a sharp pullback that saw the price briefly dip below $0.83, ADA rebounded to around $0.88—a 5.8% decline over a 24-hour period that has not deterred its overall upward trend. In fact, ADA has posted a substantial 47.1% gain over the past week and remains 21% higher year-over-year, underscoring its robust fundamentals.

Analyst highlights Cardano bullish breakout

One prominent crypto analyst, Ali Martinez, has highlighted a bullish breakout pattern in ADA’s price action. According to Martinez, the asset is currently forming a right-angled descending broadening wedge on its 3-hour chart—a pattern that typically signals an impending breakout rally.

The key resistance for this formation is positioned at $1.14, and if ADA can break above this level, it may trigger a high-momentum surge toward the $2 psychological mark.

In addition to this bullish pattern, another analysis from CryptoElites identified a cup and handle pattern in ADA’s price action. This formation, following the successful breakout from a prolonged downtrend, suggests that the bullish momentum may continue.

The analyst shared multiple potential price targets—ranging from $2.50 and $3 to $6—with a broader long-term target of $12, should the rally maintain its strength.

Supporting these technical signals, recent on-chain data reveals that whale activity has increased significantly. Blockchain analytics firm Santiment reported that whale transactions exceeding $100,000 reached a three-month high this week, coinciding with ADA’s temporary surge to $1.13.

This notable increase in high-value transactions indicates that large holders are actively accumulating ADA, further reinforcing its resilience in the market. Moreover, the average age of ADA tokens in wallets has declined as more tokens return to circulation—a trend that typically signals heightened trading activity and shifting market sentiment.

Together, these developments suggest that despite recent price fluctuations, ADA is building a strong foundation for a bullish breakout. With key technical levels at $1.14 and multiple targets outlined by analysts, the stage appears set for Cardano to continue its upward trajectory.