Cardano experienced a major price boost after President Donald Trump made an important announcement about establishing a crypto reserve, prompting market sentiment to increase dramatically and cause an approximate 60% surge within hours on Sunday, March 2. While its price may have experienced some slight retracements since then, current trends indicate it may soon experience another upward spike.
Forecasting ADA’s Upcoming Market Cycle
Ali Martinez, an established cryptocurrency analyst, provided insights on a potential upswing in Cardano price to target $2 in his recent analysis. This optimism stemmed from a right-angled, descending broadening wedge pattern observed within daily trading figures for ADA – these patterns typically signal rising volatility which precedes price movements with potentially bullish implications in Cardano’s case.
Though widening wedges typically indicate bearish trends, they can also signal periods of increased volatility with no clear directional bias. Since December 2024, however, this pattern indicates a strong bullish signal for Cardano and requires breaking above its major resistance level of approximately $1.14 for its predicted surge to begin.
Analysts such as Martinez believe Cardano could experience an impressive surge, possibly more than doubling in price over time and reaching $2 in just weeks–an increase of 140% from its current standing.
Current Snapshot of Cardano Prices
Following the surge associated with the strategic cryptocurrency reserve announcement, ADA briefly exceeded $1.1 but has since dropped back below $1. At time of reporting, Cardano is trading around $0.82 with slight decrease over its past 24 hours.
