Cardano Price Explosion Potential According to Analysts: Repeat 2021 Surge, Target $16?

Jakarta, Pintu News – Cardano seems to be repeating its glorious performance like in 2021, at which time the price reached its highest peak. With a stronger accumulation pattern this time, analysis shows that it is likely that ADA will reach a new record much higher than before.

Promising Market Structure

On the current weekly chart, Cardano (ADA) is showing a very similar pattern to the one that occurred before the price surge in 2021. After successfully breaking out of the supply zone marked by the orange rectangle, ADA returned to that level and consolidated for a few weeks before finally surging all the way to $3.10.

If this pattern repeats, the first target that may be reached is the previous record high of $3.10, which would mean a 457% gain for investors who bought at the current price. However, with strong market momentum, the price surge could continue all the way to $16. This shows significant growth potential and could be a great opportunity for investors.

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Market Accumulation as a Catalyst

Weekly Netflow data from Coinglass, which tracks the inflow and outflow of assets to measure accumulation or distribution, shows that there is strong support for the current consolidation of ADA. Over the past seven weeks, investors have accumulated Cardano (ADA) with a total value of $379 million, which is a significant share of the market with a current market capitalization of $22 billion.

This investment represents about 1.7% of Cardano’s (ADA) market capitalization, signaling strong interest from investors. This could trigger a supply shortage which in turn increases demand and pushes prices up.

Market Reaction to This Trend

Although the price of Cardano (ADA) has decreased, the sentiment in the market remains bullish, especially in the derivatives market. The high Open Interest Weighted Funding Rate, which currently stands at 0.0086%, indicates that long-term contracts continue to open.

Continued betting on long-term contracts in lower time frames will contribute to the long-term rally of the asset, if this tendency continues. This shows strong confidence in Cardano’s (ADA) future growth potential.

Conclusion

With a similar pattern to previous spikes and a much larger market accumulation, Cardano (ADA) is on the verge of a possible significant price spike. Investors who pay attention to this trend may be well positioned to capitalize on the potential for a dramatic price increase. In conclusion, current market conditions and historical data suggest that we may be about to witness history repeat itself for Cardano (ADA).

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Cardano currently revisiting its 2021 surge; last time ADA hit all-time highs. Accessed on April 21, 2025
• Featured Image: Bitcoinsensus