Cardano (ADA) has been caught in massive volatility and extreme price swings, making it one of the most unpredictable assets in the crypto market. Following US President Donald Trump’s announcement of a US Strategic Crypto Reserve, which included Cardano, ADA’s price skyrocketed over 80% in less than a day, fueling speculation about its long-term role in institutional adoption.

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However, the excitement was short-lived, as negative macroeconomic sentiment and fears surrounding global trade wars triggered a sharp 35% decline within just two days. As uncertainty grips the financial markets, traders remain cautious about whether ADA can regain momentum or if more downside is ahead.

Despite the recent sell-off, top analyst Ali Martinez shared a technical analysis suggesting that Cardano remains positioned for a potential surge toward $10. According to his insights, bulls must reclaim key technical levels for a strong recovery, with ADA still showing bullish potential despite short-term weakness.

With Cardano’s price action at a critical point, the coming days will be crucial in determining its next move. If bulls can stabilize ADA above key support, the potential for another explosive rally remains on the table.

Cardano Could Start A Massive Move

Cardano (ADA) has been overperforming compared to the broader crypto market over the past week, showing relative strength despite ongoing volatility. However, price action remains confined within a range that first began forming in November 2024, preventing a clear breakout in either direction.

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If bulls can hold the current levels, ADA could soon attempt a push above multi-year highs, setting the stage for a significant bullish move. However, analysts remain cautious as prices are still low, and investor sentiment remains fearful amid macroeconomic uncertainty and trade war tensions. Many traders are waiting for confirmation of a breakout, as momentum has yet to fully shift in favor of the bulls.

Martinez’s technical analysis on X reveals that Cardano is still positioned for a potential surge toward $10. According to Martinez, for this bullish scenario to unfold, ADA must maintain support above $0.80 while successfully breaking through the key $1.20 resistance level. These price points serve as crucial pivot zones, and their validation or failure will likely determine Cardano’s short-term trend.

The next trading sessions will be crucial, as a break above $1.20 could trigger a strong upward move, while failure to hold above $0.80 could lead to further downside risk. With ADA currently at a pivotal moment, traders are closely monitoring price action to gauge whether bulls can regain control or if continued consolidation is ahead.

Price Action Details: Technical Analysis

Cardano (ADA) is currently trading at $0.80 after failing to hold above the key $1 level. Despite recent strong performance compared to the broader market, ADA has struggled to maintain bullish momentum, leaving traders uncertain about its next move.

For bulls to regain control, ADA must reclaim the $1 mark and push above the critical $1.17 resistance level. A break and hold above this zone could trigger a massive rally, potentially sending Cardano to multi-year highs. Such a move would signal renewed buying interest, boosting confidence among investors and traders who are watching ADA’s long-term potential.

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However, failure to break above $1 and hold the crucial $0.80 support level could expose Cardano to further downside risk. A breakdown below $0.80 would likely send ADA into lower demand zones, extending its consolidation phase and delaying any significant recovery.

Featured image from Dall-E, chart from TradingView

Cardano price has experienced a slight recovery following a week of market bearishness. Currently, ADA is holding above its support level, showing potential for a bullish trend in the near future. The recent upward movement has sparked discussions about whether Cardano could reach $1 by March 2025, especially with 12.54 billion ADA tokens being accumulated by whales in the past 24 hours.

How Whale Accumulation Could Push Cardano Price to $1 by March 2025

The recent accumulation of 12.54 billion ADA tokens by large holders has sparked interest in the potential price movement of Cardano. 

Over the past month, data shows an increase in whale activity, with significant buys pushing the price upward. 

As ADA whales continue to accumulate, the overall market sentiment remains optimistic, creating a potential for the price to hit $1 by March 2025.

Large whale movements have had a strong influence on the price of ADA, driving its volatility. The ongoing accumulation could create upward momentum as these whales take positions ahead of anticipated market trends. 

If the buying pressure continues and broader market conditions align, ADA might see a price surge that reaches or exceeds the $1 mark in the coming weeks. 

ADA Technical Analysis

The ADA price is trading at $0.6349 as of March 1, 2025. The Cardano price market is seeing fluctuations, with the price remaining within a narrow range of $0.6349 to $0.50. This follows the crypto market recovery, with BTC seeing a slight surge.

This ADA follows a period of consolidation, with some bullish movements pushing it higher earlier in the month. ADA is facing challenges breaking above $0.700, a resistance level that has been difficult to surpass.

The Relative Strength Index (RSI) is at 41, showing that the market is in a neutral state but could potentially shift toward a bullish direction. 

The Moving Average Convergence Divergence (MACD) indicator suggests mixed signals. The current MACD histogram reading at 0.0043 indicates that there is some bullish momentum, although the histogram’s width is narrowing. 

The MACD line at -0.0167 signals slight bearish pressure, with the moving averages not diverging sharply. If the price fails to hold above $0.60, the downside risk may grow. Resistance levels are identified at $0.70 and $0.80, while support is holding firm at $0.60 and $0.50. 

 A break above the $0.70 resistance could see the Cardano price prediction test at higher levels. Conversely, failure to hold above $0.60 could lead to a retest of $0.50.

To sum up, the Cardano price could hit $1 by March 2025, driven by whale accumulation and strong buying momentum. However, resistance at $0.70 remains a significant challenge for ADA’s upward movement.

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Coingape Staff

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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.