Analyst Says Cardano Not Showing Enough Market Strength For An Explosive Breakout

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Jason Pizzino, a Macro trader and investor in crypto in his latest YouTube video has commented that Cardano (ADA) is unlikely to make all-time highs in this cycle. He told his subscribers that ADA is not showing enough market strength so far this cycle, which makes it impossible for an explosive breakout at this point. 

He stated “If Cardano is able to do $10 this cycle, then maybe come back at me. But apart from that, this thing could be just another waste of people’s time.”

Analyst Compares ADA To SOL

He compared ADA’s price action on the weekly timeframe to Solana’s (SOL). Notably, Solana seems poised to reach an all-time high after it has achieved a series of rallies this cycle. There could also be a possibility of extended rallies beyond the all-time high. 

He explained the SOL chart noting that we got the breakthrough at 50%, $211. He noted that the price is still up and strength is still on its side. He highlighted that it is breaking highs and is getting back to its previous all-time high at around $260. 

ADA Holders Running Out Of Time

But coming to Cardano, he said- “It’s like a plane…If you’re just sitting on the ground with the engine running, the fuel is just burning, but you still need to get from Australia to Europe. You’re running out of time. All that fuel is getting eaten up. And that’s what’s happening with the ADA holders,” he noted.

He stressed that ADA holders are sitting with the engine running, and should at least reach their all-time high of $3, and further. But he noted that they could possibly run out of time and may not reach an all-time high. However, in SOL’s case, he noted that we are back at these highs and getting ready to take off to the next price targets. 

“And in the case of SOL, you’re looking at $260, then $312 and then in terms of an extension of the entire move that we’ve seen so far, somewhere around $400,” he shared. 

Ali Martinez Says ADA Will Reach $6!

On the other hand, Ali Martinez, a technical and on-chain analyst in a latest X post shared a chart stating that “Cardano (ADA) will reach $6 by July – September 2025!”.

#Cardano $ADA will reach $6 by July – September 2025! pic.twitter.com/ik3NrNizaN

— Ali (@ali_charts) November 15, 2024

Cardano is currently trading around $0.6508, up over 18% in the last 24 hours. Notably, a so-called golden cross is beginning to form on the daily price chart of ADA. This pattern is considered bullish and is formed when the lower moving average, usually the 50-day, crosses the higher moving average, usually the 200-day, from below to above. 

Interestingly, the last time it appeared was almost exactly a year ago and preceded a 120% rise in the price of the Cardano token in the following three months. What do you think? Will Cardano be able to reach its all-time high and rise beyond? Stay tuned.