Cardano Correction Suggests Next Bull Cycle in Weeks; ADA to $6?
The cryptocurrency Cardano (ADA) has been attracting attention in the market due to an analysis that suggests a possible new wave of growth soon after a period of correction. This week, the asset’s price saw a considerable increase of 13% amid the recovery of the broader market, however, ADA underwent a notable correction in the last day.
In February 2021, Cardano began a significant rally after a 44% correction. Now, with ADA having undergone a 43% correction, the crypto community is wondering if history is about to repeat itself. An analysis shared by renowned crypto analyst Ali Martinez on the X platform on January 17 draws an interesting parallel between these two periods.
According to the analysis, the similarity between the two corrections suggests that the next leg of the bullish trend for Cardano could be just around the corner, possibly within two to three weeks. This projection has generated excitement among ADA investors, who are eagerly awaiting a price recovery. Furthermore, the expert suggested that the token will initiate a breakout towards $6, thus setting a new all-time high for its price.
“After a 44% correction, Cardano $ADA began its second leg up during the week of February 1, 2021. Now, ADA has already undergone a 43% correction, suggesting that the next leg up may be just two to three weeks away. $6 next!” wrote Martinez.

At the time of publication, Cardano’s price is trading at $1,08, down 1.9% in the last 24 hours. The highest price paid for Cardano (ADA) was $3,09, recorded on September 2, 2021 (over 3 years ago). In comparison, the current price is 65,01% lower than its all-time high.
Cardano Advances with Accumulation of Whales and RSI Points to Uptrend
Cardano (ADA) demonstrated a significant boost by breaking through a triangular formation that had been limiting price behavior. The adoption of the proof-of-stake (PoS) mechanism and the expansion of projects on the network contributed to increasing the interest of large investors, who intensified their purchase of the crypto asset in recent days. It is estimated that more than 130 million tokens have been accumulated in a short period of time, fueling expectations of a continuation of the bullish trend.
Monitoring data suggests that this considerable volume is reflected in the market capitalization and the growth of the total value locked (TVL) metric. With the overcoming of psychological values, such as the $1 zone, confidence in the token has increased, also supported by technical indicators. The RSI, for example, presents levels that indicate strength in demand, signaling the maintenance of the bullish bias.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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