Analyst Ali Martinez shared his view on possible significant growth for Cardano (ADA) by comparing the current price dynamics of the token with its previous growth periods.
Comparison with Previous Cycles
In his latest update, Martinez presented a chart comparing ADA's current price to its previous market cycles. From 2018 to 2021, ADA underwent a long consolidation phase before breaking out in mid-2020 at a price of $0.15. This breakout led to a parabolic growth, peaking at $3.10 in 2021.
Currently, ADA shows a nearly identical setup, gradually climbing from a low of around $0.23 to a recent high of about $0.85. Martinez noted on the chart, 'We’re here!', indicating the stage ADA was at before its last significant surge.
Key ADA Price Levels
ADA is now in a zone that will determine whether it can begin its next major upward movement. The first key support level is around $0.62. If ADA remains above this price, bulls will maintain control.
According to projected levels, at $0.85, ADA will face its first significant hurdle. If ADA can close a weekly candle above this level, the next targets will be $1.15 followed by $1.78.
Psychology of Crypto Cycles
Ali Martinez pointed out that ADA's current behavior aligns with classic cryptocurrency cycle psychology. Early in a bull market, coins often move slowly initially, then start climbing rapidly as attention and trading volume increase. Martinez emphasized, 'Cardano is showing the same structure as its last cycle.'
Over the next 12 to 18 months, the outlook for ADA remains bullish. If the price breaks above $0.85 with strong volume, a rally toward $1.15 and $1.78 is likely. In a full altcoin bull market, a return to $3.00 appears realistic.
