Technical analysis shows that major cryptocurrency Cardano (ADA) is looking to make a massive move to $3 and above in the near future. The ninth-largest cryptocurrency by market capitalization has been around for the better part of the last eight years but struggled to take on more popular competitors like Ethereum throughout this time and, more recently, Solana and XRP. Finally, we may look at a trading pattern that might turn things around for the programmable digital currency.

Popular X (formerly Twitter) trading analyst Ali Martinez said that ADA will likely present a massive move above $0.92 soon, provided the $0.72 support level is maintained. He tweeted this analytical graph:

Image Source: X.com

This pattern shows a high likelihood of ADA breaking the considerable resistance present above $0.9 and eventually shooting for the stars. However, to truly enter the altcoin season, it must overcome the major $1.24 price level it posted in December 2024.

Cardano Holding Above $0.72

ADA is changing hands at around $0.75 at press time, up from sub-$0.65 levels from just a month ago. While ADA’s price recovery has been shown in the spot market, it has not shrugged off any price pullback concerns. Here is the graph from the last 40 days:

Image Source: TradingView

The price of ADA has reflected the considerable surge in the value of Bitcoin and the larger altcoin market during this time. However, it has performed below par, and the reason is that it is not able to carve out a unique position in the highly competitive altcoin market.

Cardano Gearing Up For Massive Network Upgrades

Cardano founder Charles Hoskinson is on a mission to prove the programmable digital currency’s long-term utility. He is betting on a string of recent cross-chain capability-focused updates to the Cardano Network to help boost its credibility. 

Hoskinson tweeted:

“What we are introducing with Leios, and eventually with the rest of the pipeline, will make Cardano the fastest cryptocurrency on the planet”.

Cryptocurrency investors are looking at this upgrade with dogged enthusiasm as they prepare for a potentially massive second half of the 2025 calendar year, with huge gains to be made. It remains to be seen just how effective this update will be and whether or not it will challenge the authority of more fancied networks like Solana (SOL) in the coming months. 

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Filed under: Bitcoin - @ May 24, 2025 2:23 pm