Cardano (ADA) could be on the verge of a substantial price surge, with leading analyst Ali Martinez pointing to a setup that resembles the 2020–2021 bull run. In a post on X today, Martinez shared a side-by-side comparison of ADA’s current trajectory and its historical price movement, suggesting that a breakout may be brewing.Cardano Repeats History — SlowlyMartinez observed that ADA's current price behavior mirrors its previous cycle, albeit with a slower pace of development. Despite this delay, there are structural similarities. This has raised expectations for a significant upward move in the coming months.Martinez’s analysis uses Fibonacci extensions to compare ADA’s 2018–2021 and 2022–2025 cycles. Specifically, in the earlier run, Cardano soared from $0.0944, which aligned with the 0.382 Fibonacci level, to over $3, an impressive 32x jump.Currently trading around $0.72, ADA is hovering just below the 0.5 Fibonacci retracement level at $0.85. According to Martinez, the current position is similar to the historic breakout that led to a 30x surge for ADA.Notably, the projected Fibonacci targets point to potential upside levels for ADA, including reclaiming its previous cycle peak of $3.09 (1.0 extension) and a further expansion to $4.19 (1.272 extension). In the most bullish scenario, Cardano could rise to $6.25 or higher, aligning with the 1.272 Fibonacci level. Cardano weekly chart by Ali Martinez Though the market is moving more gradually this time, Martinez notes that the technical structure remains bullish. ADA initially broke out significantly in December 2024, surpassing $1.23 before cooling off. The coin has since struggled to regain bullish momentum following that retracement.ADA Cup and Handle Pattern Supports Bullish BreakoutOther analysts, such as Crypto Smith, have also identified long-term bullish patterns. Smith recently pointed to a “cup and handle” formation on ADA’s chart. He also noted signs of whale accumulation tapering off, suggesting a major rally to $4 could follow. Developer Activity Strengthens FundamentalsMeanwhile, on the development front, Cardano continues to demonstrate strong on-chain growth. The network has surpassed 300,000 deployed smart contracts. This marks a major milestone since smart contract functionality was introduced through the Alonzo upgrade less than four years ago.The uptick in smart contract deployments underscores increased dApp adoption and growing developer engagement, adding fundamental support to ADA’s bullish technical outlook.
