Ali Martinez, a technical and supply chain analyst, recently shared a thread on However, he noted that this is nothing compared to what is to come. Amid broader market optimism and altcoins gaining momentum, Cardano appears poised to soar to new highs.
#Cardano $ADA is up almost 200% in the last three weeks! But that’s nothing compared to what’s to come.
— Ali (@ali_charts) November 22, 2024
Cardano reflects the previous bullish cycle
The analyst notes that whales and institutional players have positioned themselves for what is to come. Notably, the volume of large Cardano transactions on the network has exceeded $22 billion per day. He notes that these large transactions appear to be associated with high levels of accumulation. Whales holding $1 million to over $10 million in ADA have increased their positions by more than 100% in the past month.
The analyst points out that high buying pressure is starting to move prices, and from a technical perspective, Cardano appears to be mirroring its previous bullish cycle. If this pattern holds, he noted that ADA could target $6. He notes that a key support point for the bullish thesis is $0.80, where 48,000 addresses bought almost 1.20 billion ADA. It is currently trading at $0.9686, up more than 20% in the last 24 hours.
DOGE jumps 5%
As Bitcoin quickly approaches the long-awaited $100,000 per coin mark, several altcoins are emerging, including Dogecoin. On Friday afternoon, the price reached $0.4126, the highest in more than a week. It is currently trading at $0.4092, up over 6% in the last 24 hours.
DOGE rose 5%, returning to multi-year highs from earlier this month, following speculation surrounding X’s highly anticipated payment service. Notably, Musk posted a screenshot of podcaster Joe Rogan’s was then the app’s tipping service. An X user speculated that it may be intended to send money as part of X Payments.
XRP leads the pack
XRP is at the top of the pack as its price soared on the news that Gary Gensler will officially step down in January. XRP is currently trading at $1.45, up over 23% in the past day.
