The Cardano (ADA) ecosystem made headlines throughout the first week of March 2025. Donald Trump’s decision to include ADA along with XRP and Solana (SOL) into the country’s Strategic Reserve has made a positive impact on the industry. The altcoin went from trading at a low of $0.5822 to a high of $1.13 just as this news hit the market. Despite this increase, the asset took a major hit. Throughout the past week, ADA dipped by 16%.
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How Is Cardano Currently Faring?
At the time of writing, Cardano was trading at $0.7174 following a 1.48% downfall over the past 24 hours. The latest drop has pushed the altcoin much below its all-time high. The asset hit a peak of $3.10 back in September 2021. The asset is currently 76% below this milestone.
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Despite its current bearish market, prominent analyst Ali Martinez was seen restoring hope into the Cardano market. According to the analyst, the altcoin has currently formed a bullish pattern. He revealed that the asset has formulated a right-angle descending wedge. Martinez noted that $1.20 is a “key level to watch for a bullish breakout” for Cardano.
#Cardano $ADA is currently consolidating within a right-angle descending wedge. The key level to watch for a bullish breakout is $1.20! pic.twitter.com/GFVbbKI2Os
— Ali (@ali_charts) March 13, 2025
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Price Prediction
It looks like Cardano is indeed gearing up for a notable rise. According to data from CoinCodex, ADA is set to surge over the next couple of days. While $1.20 is still at a distance for the asset, CoinCodex revealed a bullish prediction for ADA. The firm noted that ADA is slated to witness an 8.78% increase in its price. On March 20, the altcoin is expected to trade at a price of $0.7862. It should be noted that the days leading up to this rise are also bullish for the asset. ADA will reportedly surge to $0.822 on March 19.
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