Can Cardano Repeat 2021 Surge? Technicals Point Toward $3–$6 Target – Details

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Cardano (ADA) prices have dropped by 3.49% in the past week, amidst a broader crypto market correction. The popular altcoin now trades near the $0.90 price region following this significant bearish activity. However, renowned market expert Ali Martinez has shared an audacious bullish theory that suggests Cardano may be preparing for a major upside swing. Related Reading Pundit Predicts XRP Price Crash Below $3, Here’s Why 1 day ago ADA Price Structure Suggests Bullish Breakout Ahead, Analyst Says

In a recent X post, Martinez provides some technical insight into the Cardano market, which highlights the potential for a significant price move based on historical price behavior and Fibonacci extension levels. Notably, Martinez’s analysis shows how ADA previously topped between the 1.000 and 1.272 Fibonacci extension in its last bull run and appears to be showing similar technical structure this time around.

For context, the Fibonacci extension tool is widely used to identify possible price targets by mapping ratios derived from the Fibonacci sequence against historical price action. In Cardano’s last cycle, ADA surged from lows near $0.018 in early 2020 to highs around $3.10 in 2021 as the cycle peak. Source: @ali_charts on X

At the time of writing, ADA is consolidating near the 0.618 extension level at $1.15. This zone has historically acted as both strong resistance and support, making it a critical battleground for bulls and bears. If ADA can decisively break above $1.15, Martinez’s projections suggest momentum could build toward higher Fibonacci extension targets, most notably in the $3-$6 range.

Such a move would represent a substantial upside from current levels, with about a 200% gain alone required just to reach the $3 threshold that aligns with the 1.000 extension level. Meanwhile, achieving the upper end of the projection near $6 would put Cardano back in contention with its 2021 highs, which aligns with the 1.272 Fibonacci extension level.

However, it’s worth noting that a rejection at $1.15 resistance level could force Cardano to lower levels at $0.62 (0.382 Fib) and $0.43 (0.236 Fib). Related Reading Bitcoin Price Drops To $115K After Rate-Cut Rally — But BTC Far From Capitulation 1 day ago Cardano Market Overview

At the time of writing, Cardano (ADA) is trading at $0.89, down by 0.41% in the last 24 hours, as selling pressure weighs on the market. The daily trading volume has also dropped sharply by 49.53%, signaling reduced activity and waning momentum among traders.

Meanwhile, recent on-chain data highlights significant whale movements, with over 530 million ADA ($472 million) offloaded within the past 72 hours, according to Ali Martinez. Such large-scale selling often indicates profit-taking or repositioning by major holders, adding to bearish sentiment.

Despite this, ADA  continues to rank as the 10th largest cryptocurrency with a total market cap of $32.03 billion. ADA trading at $0.8940 on the daily chart | Source: ADAUSDT chart on Tradingview.com Featured image from Flickr, chart from Tradingview