Cardano (ADA) Set for Major Breakout: Analyst Sees $6+ Potential

Cardano (ADA) is showing a price structure that closely mirrors its 2020–2021 cycle.

Key Fibonacci levels indicate possible targets above $3, with some projections reaching over $6 if momentum builds.

A surge in smart contract activity and the formation of bullish patterns like the cup and handle support the long-term bullish outlook.

Cardano (ADA) may be gearing up for a major breakout, according to a technical analysis by analyst Ali Martinez.

In a tweet accompanied by a comparative chart of ADA’s historical price structure, Martinez highlights that the current price action closely mirrors the 2020–2021 cycle.

Martinez notes that while ADA appears to be following a similar price pattern to its previous cycle, the current progression is unfolding at a slower pace.

He also believes the market’s behavior suggests the potential onset of a significant upward move.

Related: Cardano (ADA) Price Prediction for August 2 Fibonacci Patterns Suggest $6+ Upside for Cardano The chart shared by Martinez overlays ADA’s 2018–2021 and 2022–2025 market cycles, both showing similar consolidation and Fibonacci retracement levels.

In the 2020 cycle, AD… The post Cardano (ADA) Set for Major Breakout: Analyst Sees $6+ Potential appeared first on Coin Edition ..