ADA traded fairly strong on Tuesday, extending Monday’s gains and breaking correlation with major cryptos like BTC, ETH, and XRP, which traded red. Despite this strength, ADA has remained in a tight range since March 10, fluctuating between $0.75 and $0.68 as the broader crypto market stays muted. However, analysts suggest that a major breakout to $10 may be imminent. In a Tuesday tweet, crypto analyst Javon Marks projected that ADA could surge sixfold from current prices if historical patterns from the last bull run repeat, supported by Fibonacci extension targets. “Based on $ADA (Cardano)’s past bull cycle performance, we can watch for prices to push to the 1.272 Fib Level, currently over 585% away at $5.35933. A more than 6.8X move,” Marks stated . Elsewhere, prominent Bitcoin investor and analyst “Lucky,” who has over 2.2 million followers on X, highlighted a bullish flag forming on ADA’s daily chart, with price targets around $1.80. He also pointed to strong fundamentals backing ADA’s potential rally. “Keep an eye on ADA; I’m anticipating another big move. Strong fundamentals and increasing adoption make Cardano a reliable choice. The ecosystem continues to expand, solidifying its market position,” he noted . Meanwhile, Crypto Capital Venture’s Dan Gambardello compared Cardano’s current trajectory to Amazon’s early 2000s growth. He recalled how Amazon was dismissed as a failing dot-com stock in 2001 before becoming a dominant tech giant. Gambardello suggested that Cardano is laying a similar foundation for long-term success and predicted ADA’s market cap could skyrocket, potentially pushing its price to $10 sooner than many expect. These bullish projections align with a notable increase in whale accumulation. On Tuesday, analyst Ali Martinez highlighted that whales purchased 240 million ADA over the past week. This follows his earlier observation on March 20, when whales bought 190 million ADA in a single day. While whale activity has slowed slightly in recent weeks, Cardano’s futures volume dropped from $10 billion to $940 million in two weeks as of March 19, February 2025 also saw a significant wave of large purchases. During that month’s 30% price decline, ADA whales holding between 10 million and 100 million ADA accumulated over 300 million ADA, valued at approximately $200 million. Additionally, since November 2023, wallets containing at least 1 million ADA have consistently increased their holdings, amassing an additional 1.41 billion ADA over 15 months, accounting for 2.35% of the total supply. Beyond price speculation, several factors appear to be fueling renewed whale interest in Cardano. Upcoming network upgrades promise improved scalability and transaction efficiency , making ADA more attractive to institutional investors. Additionally, optimism surrounding potential regulatory clarity in the crypto space may be encouraging large holders to accumulate ADA was trading at $0.72 at press time, reflecting a 1.94% gain on the day and an 8.34% increase over the past week.
