$5 ADA Target Envisioned for Cardano as Whales Scoop Up Over 120 Million ADA in a Day

Cardano (ADA) traded mildly weaker on Tuesday despite a strong showing earlier in the week. The broader crypto market experienced a pullback led by Bitcoin’s dip to around $108,923 at press time.

However, ADA’s resilience over the past few days, with four consecutive bullish daily candles since Friday, has analysts eyeing a potential breakout that could rival its all-time highs.

Popular crypto analyst Javon Marks has reignited bullish sentiment, tweeting that Cardano could surge as much as 666% from current levels.

“Using ADA (Cardano)’s previous bull cycle as a guide for this one,” Marks wrote, “prices could be setting up for another move to and above its 1.272 Fibonacci Level, which is currently at the ~$5.35 price point.”

Notably, this mirrors a similar prediction he made in March, reinforcing his long-term outlook based on Fibonacci extension models. If his forecast holds, it would mark one of the most substantial rallies among major altcoins.

Marks isn’t the only analyst turning bullish on ADA. Master Ananda also pointed to a consistent pattern of higher lows since June 2023. According to him, recent support zones formed between February and April 2025 suggest a breakout could soon take shape.

“Cardano looks great,” Ananda tweeted. “After four weeks of retrace, we can expect soon higher prices. $2.65 and $4.29 are the main targets.”

Adding to the optimism, analyst Trend Rider highlighted a possible “double bottom” formation in ADA’s chart. This is a bullish reversal pattern that, according to academic research, predicts price increases with about 65% accuracy when confirmed by trading volume.

That said, the growing bullish sentiment is also being supported by on-chain data. Crypto analyst Ali Martinez revealed Tuesday that whales have accumulated over 120 million ADA tokens in the past 48 hours, based on data from Santiment. Whale activity of this magnitude often precedes price rallies, as it signals rising confidence from influential market players.

Beyond price charts and market speculation, Cardano’s fundamental developments are strengthening the case for a long-term rally. On Monday, Cardano founder Charles Hoskinson announced the launch of “Cardinal”, the blockchain’s first Bitcoin-backed DeFi protocol. Cardinal allows users to engage in defi using BTC on Cardano without relying on centralized custodians, utilizing advanced cryptographic tools like MuSig2 and wrapped UTXO.

The Cardinal protocol enables BTC to be used across DeFi platforms such as MinswapDEX, SundaeSwap, and Fluid Tokens for trading, lending, and collateral, all while preserving full self-custody.

Following the announcement, ADA’s trading volume soared nearly 70% to $839 million, with ADA climbing 2.36% in the past 24 hours to trade at $0.7 at press time.