Cardano price has rallied another 8% shooting past $1.0 and extending its ADA’s weekly rally to more than 16%. The technical setup for ADA shows that the altcoin could be gearing up for a mega rally of 300% in the next few weeks from here moving all the way to $4.
Here’s Why Cardano Price Can Rally to $4
Amid the broader market recovery, Cardano is showing greater strength in comparison to its peers with a remarkable gain among the other top altcoins. Crypto analyst Ali Martinez draws parallels between the current Cardano price action and its performance in the previous market cycle between November 2020 and August 2021, when ADA experienced a mega bull rally.
Considering a similar breakout ahead, Martinez believes that ADA price could surge all the way to $4 in the coming weeks.
Following Donald Trump’s victory, the crypto staged a 3x rally in a month’s time amid strong euphoria in the broader altcoin market. Market analysts believe that the altcoin market cap can be nearly 5x in 2025 reaching all the way to $7 trillion. Thus, this 300% rally won’t come as a surprise in that case.
ADA price today was up 8.07% at $1.01 with a market cap of $35.63 billion. Also, the daily trading volume has surged by 5% to $1.26 highlighting the chances of a sustained rally moving ahead. As per the Coinglass data, the ADA open interest is also up 7% and is currently at $781 million. Also, amid the Cardano price surge, the 24-hour liquidations have soared to $2.38 million with $1.56 million in short liquidations.
Charles Hoskinson Stays Bullish for ADA in 2025
Cardano founder Charles Hoskinson also shared a bullish take on Cardano (ADA) for this year of 2025. Hoskinson has forecasted unprecedented growth for the network, citing the potential integration of Bitcoin DeFi through the BitcoinOS network as a key driver. This development could channel billions of dollars into the Cardano ecosystem by incorporating Bitcoin’s liquidity and functionality.
Furthermore, Hoskinson remains committed to greater decentralization for the Cardano blockchain adding that his last “duty is to remove any roadblock for this transition, and there is no way in hell anyone or thing is going to derail that process”. Recently, he had also questioned the Cardano Foundation’s stronger control in overall decision-making. Such developments could be bullish for Cardano price in the long term.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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