Cardano (ADA), the second-largest proof-of-stake (PoS) cryptocurrency, might be getting closer to a splendid price upsurge. Seasoned cryptocurrency trader and analyst Ali Martinez says that the ADA price might be done consolidating very soon.
Cardano (ADA) completes consolidation, targets 40% jump: Top analyst
The Cardano (ADA) price is getting closer to the final phase of its consolidation, which took almost two months. By March 2025, the ADA price will be ready to exit the Symmetrical Triangle, which is normally an indicator of powerful price move incoming.
Such a forecast was shared by Ali Martinez, seasoned cryptocurrency trader, analyst and educator known as @ali_charts to his 122,000 followers in X. The analyst identified the Symmetrical Triangle on the four-hour time-frame. According to him, ADA entered this formation in early December 2024 when its price hit the $1.30 level.
Should this forecast play out, Cardano (ADA) might be ready for a 40% price upsurge. Given that it seeks to exit from the triangle somewhere near $0.98-$1.00, an ADA price jump to $1.40 would not surprise the analyst.
The last time Cardano (ADA) was trading over $1.40 was in early December 2021. As such, the Symmetrical Triangle has a chance to push it above three-year highs.
As of press time, Cardano (ADA), the ninth largest cryptocurrency, is changing hands at $0.969 amid declining trading volume. In the last 24 hours, its price has added 0.88%.
Cardano (ADA) highly-anticipated Plomin upgrade live
Despite the altcoin season obviously lagging this cycle, the Cardano (ADA) ecosystem activates a number of upgrades that are crucial for its progress toward 100% decentralization. As covered by U.Today previously, Cardano (ADA) finally implemented the Plomin hardfork.
With the Plomin upgrade activated on Cardano (ADA) nodes, the process of voting on referendums is streamlined for various groups of ADA stakers and delegators.
Cardano's (ADA) DeFi ecosystem demonstrates moderate growth, with TVL sitting at $485 million in equivalent. Liqwid, Minswap and Indigo remain dominant DeFis of the Cardano (ADA) scene.
