A popular altcoin is once again gaining attention in the crypto world. The current price action of this altcoin seems to be a sign of significant gains, carrying traces of the previous bull cycle. Famous crypto analyst Ali Martinez suggests that this altcoin could rise to $6 by 2025.
Ali Martinez, citing the path followed by ADA during the 2020 bull cycle, states that a similar structure is currently forming. At that time, ADA experienced a sudden decline after exiting the accumulation phase. Currently, ADA’s price has similarly pulled back by 42%. In the previous bull cycle, after such a decline, ADA increased by 4095% and reached its historical peak. Martinez says that ADA could perform a similar rally after this pullback. If the predictions are correct, ADA could reach a target of $6.
Currently trading at $0.89, ADA is above its 50-day moving average, which suggests that the price is at a strong support level. Martinez believes that ADA is likely to rise to $4, as this level is a significant resistance level. Also, well-known trading expert Kenshiyesreel says that ADA will target $4 based on the current market structure. This level coincides with an area where overbought conditions can occur, so caution should be exercised at this level.
Cardano continues to work on new governance models that aim to increase decentralization. The platform’s founder, Charles Hoskinson, aims for a completely decentralized governance model that covers all users and token holders. This vision aims to gain the trust of investors and increase ADA’s long-term price potential. The Chang Hard Fork in September 2024 laid the foundation for these changes and contributed to the platform’s wider adoption. Therefore, their impact on ADA’s price should be monitored carefully.
Currently, ADA has experienced a weekly decline of 18%. However, the fact that the price is at critical support levels offers an opportunity for an upward move. The RSI indicator indicates that ADA is neither overbought nor oversold. Martinez and other analysts point out that market volume needs to increase in order for ADA’s potential targets to be realized. In particular, the $6 target is within reach if market conditions are favorable. Therefore, it is very important for ADA investors to follow market developments closely.