Similar to XRP (XRP) and Solana (SOL), Cardano (ADA) has seen a surge in its price during the Trump rally of late, with part of this growth attributed to Input Output (IOHK), its U.S.-based parent company. In 2025, ADA has climbed approximately 30%, and for the first time since April 2022, it’s holding steady above $1.
Right now, the altcoin is trying to stay above the $1.10 barrier, and one expert predicts that its price structure could be setting up for a significant surge if it holds this position.
Peter Brandt says Cardano is ready for a grand bull run
The incoming President, Donald Trump, has often expressed his administration’s plans to create a Securities and Exchange Commission that is welcoming towards cryptocurrencies. They aim to provide clear regulations for tokens, ensure transparency, and establish stronger legal boundaries in this field.
According to CryptoMoon, there are rumors that the incoming president may be open to establishing a strategic reserve containing digital assets like Solana, USDC, and XRP alongside traditional U.S. assets. This speculation has sparked a chain reaction in the markets, as talk of an “altcoin season” has once again grabbed investors’ attention.
Given the current situation, experienced trader Peter Brandt pointed out that despite any ongoing altseason, Cardano appears to have reached its lowest point based on its weekly price trend.
The trader shared that the cryptocurrency had developed a double-bottom pattern over a period of more than one year, eventually surging above its most recent local peak of $0.81. This peak is now functioning as immediate support, and we’re seeing a “price pause” or “congestion” at this level due to the retest.
“Make no doubt about it, Cardano $ADAUSD has bottomed for a grand bull market.”
Just like Altcoin Sherpa, a well-known crypto analyst, expressed a comparable viewpoint regarding ADA, emphasizing that its graph appears robust and promising. The analyst predicts that Cardano will likely keep rising on a bullish trend so long as other cryptocurrencies favored by retail investors continue to gain momentum.
ADA aims to turn the $1.10 resistance to support
According to Brandt’s analysis, the value of ADA has bounced back from significant levels in the Fibonacci retracement zone, which is known as the “golden zone”. During an upward trend, traders often look at this 0.5-0.618 range as a crucial area where the price might temporarily correct after reaching a local peak, but then it’s likely to rebound again.
Reflecting on the price chart, it appears that after hitting an all-time high of $1.32 on December 3, 2024, ADA experienced a correction that dipped to approximately $0.76. Interestingly, since then, the altcoin has managed to maintain its value above the $1 mark and has shown signs of another potential bullish trend with a double bottom formation – a pattern often indicative of a reversal in price movement.
In contrast to XRP and SOL, Cardano (ADA) is currently sitting at a 64.7% discount from its 2021 peak price of $3.09. This means it’s lower than the other two cryptocurrencies mentioned. If ADA manages to reach this high again by 2025, traders should pay attention to its attractive risk-to-reward ratio, as it could potentially offer a good investment opportunity.
In this write-up, you’ll find information that’s meant for general understanding purposes only. It’s essential to note that it shouldn’t be interpreted as legal advice or investment guidance. The ideas, perspectives, and viewpoints expressed are solely those of the author and may not align with or reflect the views and opinions of CryptoMoon.
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2025-01-16 23:41