Cardano (ADA) follows this model, experiencing a strong rally over the past few months, but ultimately lost over 6% in the last 30 days. March was a volatile period, with the ADA jumping to $1.13 before dropping to $0.67. Despite this instability, an analyst has evoked new optimism in the community.

In the last 24 hours, Cardano has declined by 3%, at the time of writing the article, it is trading at a price of $0.704. Earlier this year, the asset peaked at $1.32 but remains significantly below that level. While ADA has repeatedly reached the $1 mark in the past, investors have now set their sights on $2. That would require an 181% increase, representing a sharp ascent given sluggish market momentum. However, analyst Ali Martinez provided an upward perspective, hinting that Cardano may still have room for growth.
Martinez identified a bullish model on the ADA's daily chart, suggesting the climb to $1.15 would confirm his breakthrough from a downstream wedge. If this scenario is executed, the asset can move to the $2 mark.
The last time Cardano reached $2 was in 2021, when it also reached its ATM of $3.10. While the recovery of this peak seems unlikely in the short term, the potential inclusion of the ADA in the U.S. government's strategic reserve could serve as a catalyst for significant appreciation.