According to Cointelegraph, Cardano's ADA has confirmed a bullish breakout from a multimonth bull flag pattern, indicating a potential upside of 100–150% in the coming weeks. This development follows a steady climb from the lower trendline, with ADA's price surpassing key resistance levels. Analysts, including Clifton Fx, suggest that ADA's price could reach the $1.60–$1.75 range if the momentum continues, levels last seen during early 2024 gains.
The recent price action has seen ADA rise by approximately 20% in the past 24 hours, reaching a five-month high of $0.99. This surge highlights renewed buying interest in the altcoin market, positioning ADA as a top candidate for traders seeking high-percentage moves. Notably, Trader_Jibon predicts ADA's price could reclaim its November high of around $1.32 and potentially reach the mid-2022 peak of $1.63.
The bullish sentiment surrounding ADA is further supported by a strengthening long-term holder base. As of Tuesday, 15 billion ADA has remained unmoved for over a year, suggesting reduced selling pressure amid growing interest in altcoins. This trend is reflected in Google Trends data, which shows searches for "altcoin" reaching their highest level since 2021, while interest in "Cardano" is at a five-month peak.
Historically, similar spikes in interest have coincided with significant capital rotation from Bitcoin into altcoins, as seen during the ICO boom of early 2018 and the DeFi-NFT surge of 2021. While the outlook for ADA appears promising, readers are reminded that investment and trading decisions involve risk, and it is essential to conduct thorough research before making any financial moves.
