Cardano ADA Gains Bullish Momentum as Analysts Predict 620 Price Surge

Cardano (ADA) has regained attention from analysts following a recent technical analysis suggesting a potential for a significant price increase in the near future. According to Ali Martinez, a leading market analyst, ADA’s current price pattern closely resembles the 2020–2021 bull cycle, despite a slower pace of development. Martinez presented a comparison of ADA’s historical and current price movements, indicating structural similarities that could lead to a breakout [1].

Martinez’s analysis uses Fibonacci extensions to draw parallels between ADA’s previous cycle and the current one. Between 2018 and 2021, ADA rose from $0.0944 to over $3, a 32x increase that reached the 1.272 Fibonacci level. Currently trading at around $0.72, ADA is positioned just below the 0.5 Fibonacci retracement level at $0.85. Martinez suggests that this level is similar to the breakout point from the earlier cycle, which led to a 30x price increase [1]. The Fibonacci analysis further indicates potential price targets, including a retesting of the $3.09 level (1.0 extension), $4.19 (1.272 extension), and, in a highly bullish scenario, $6.25 or higher [1].

Other analysts, including Crypto Smith, have also identified bullish patterns on ADA’s chart. A “cup and handle” formation has been observed, often a precursor to a major price breakout. Crypto Smith notes that the pattern could signal a move toward $4 [1]. Additionally, signs of whale accumulation tapering off suggest that a significant rally might be imminent [1].

On the fundamental side, Cardano continues to show strong on-chain growth. Since the Alonzo upgrade less than four years ago, the network has deployed over 300,000 smart contracts, marking a major milestone for the ecosystem. The growing adoption of decentralized applications and increased developer engagement provide a solid foundation for ADA’s technical optimism [1].

However, ADA has faced some volatility since its peak of $1.23 in December 2024. Although the price has cooled off after that initial surge, analysts suggest this could be a temporary correction rather than a reversal of the long-term bullish trend [1].

Additional market commentary has also highlighted ADA’s potential. U.Today reported that a new price prediction suggests reaching $6 is “highly likely,” further reinforcing the belief that Cardano is on a similar path to its previous success [2].

It is important to emphasize that these projections are based on technical and market analysis and remain forecasts. The cryptocurrency market is subject to external factors and remains highly volatile. Investors are advised to conduct thorough research before making any investment decisions [1].

Source:

[1] The Crypto Basic – Cardano Could Soar to $6 Soon as ADA Repeats Historic Price Structure: Analyst – (https://thecryptobasic.com/2025/08/01/cardano-could-soar-to-6-soon-as-ada-repeats-historic-price-structure-analyst/)

[2] U.Today – ADA Price Prediction Says It's Highly Likely – (https://www.ainvest.com/news/ada-price-structure-mirrors-2021-cycle-bullish-breakout-looms-2508/)