Cardano (ADA)'s rally has surprised everyone: the cryptocurrency is experiencing huge gains that are pushing analysts to dream of all-time highs.
At the time of writing, ADA is trading at $0.746, with daily gains of 13.24%, weekly gains of 70.8%, and an impressive monthly gain of 115%.
Cardano's bullish rally began precisely on November 6th during the US presidential elections and when everything indicated an imminent victory for Donald Trump.
It is worth noting that before the elections the price of ADA was around 0.33 USD, however, 7 days later the token rose to 0.62 USD.
It's not just about Donald Trump's victory, who has made a commitment to the crypto sector. We must also take into account the current regulatory context of the main altcoins in terms of capitalization.
Projects like Cardano are facing massive SEC lawsuits, so with the change in administration, they are seeing an end to massive regulatory crackdowns by government agencies.
On the other hand, the price of Bitcoin is trading at historic levels, which inevitably pushes altcoins higher. Therefore, even its stabilization at current levels can be highly bullish for cryptocurrencies.
Another bullish factor for ADA is its new listing on Robinhood. In the past, this platform had delisted Cardano’s token, which is why we are talking about a “new listing.”
ADA Chart Analysis: Levels to Watch
On the historical chart, the price of ADA appears to be breaking out of a falling wedge pattern, which has predicted all-time highs in various analyses.
However, in the medium term, the price broke through an important level by reaching $0.70.
In the short-term or weekly chart, Cardano’s rally mirrors a trend from 2020-2021, when the price experienced a rally to all-time highs and it happened amid the EMA 20 crossing above the EMA 50. Back then, ADA rose from $0.061 to $2.29.
Regarding important resistances, it is worth highlighting the 1 USD line, which acts as an important psychological range and which the price must overcome on its way to its historical highs.
We can also mention the $0.85 as an intermediate resistance that would precede the current key range.
On the supports, the price would find support around $0.64, however, the strongest floor should be around $0.59. A drop below this level would take the price towards the psychological support of $0.50.
Finally, the RSI at 53 points and in this context of correction shows that the bears are not in control, the price could be finding support at the current levels and would give rise to new rallies.
Ali Martinez predicts that ADA will reach $6
As we said at the beginning, several analysts still expect a major rebound for the price of ADA, this is the case of analyst Ali Martinez, who even predicted a rebound for ADA up to $6 . His analysis was based on historical price patterns combined with technical indicators.
It is worth noting that in the past, increases in the Cardano token price were characterized by long consolidation periods and rallies of up to 4,000%.
ADA will reach $6 between July and September 2025».
As we can see in the analyst's chart, the rally in this token began on the 4th of this month and so far it has been very consistent with the rally that took it to historic levels. Other less ambitious analyses use this same historical pattern to assert that 1 USD is quite feasible at the moment.
