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Financial analyst Celal Kucuker shared a bullish outlook on Cardano ($ADA), calling it one of the strongest candidates in the current bull market cycle.
In a recent post on X, Kucuker pointed to Cardano’s long-term chart structure and argued that a move toward $4 “looks incredibly clean.”
The analyst also described $ADA as one of the “strong star candidates” of the ongoing bull run. His comments come as Cardano attempts to recover from a prolonged period of price weakness that has left the asset trading far below its previous highs.
Key Points
- Analyst sees $ADA forming a strong base with a clean structure, eyeing a potential move toward the $4 target.
- Cardano may break the $1 resistance first, with upside projection extending toward $4.21 if momentum builds.
- Whales now hold record $ADA supply share, signaling strong long-term accumulation despite price weakness.
- $ADA is still down 65% yearly, but analysts say consolidation could support a major bullish breakout ahead.
Cardano Strong Technical Setup
Kucuker’s chart analysis highlights a large rounded formation, suggesting Cardano is building a long-term base after years of consolidation and decline.
The chart indicates $ADA may be preparing for a breakout above the key resistance area around $1. If it reclaims that level, the next major target sits near $4.21.
From Cardano’s current price of $0.2678, a rally to $4 would represent an increase of nearly 1,394%. Such a move would also push $ADA beyond its previous all-time high of around $3.10, reached in September 2021.
$ADA Price Climbs Alongside Broader Crypto Market
Cardano traded at $0.2678 at the time of writing, gaining around 1.2% over the past 24 hours and posting additional gains over the past week.
The move comes as the wider crypto market has also turned positive. Bitcoin rose by roughly 1.27% during the same period, while the total crypto market capitalization increased by about 1.05%.
This suggests Cardano’s latest price increase may be partly due to improving overall market sentiment rather than a standalone catalyst. Meanwhile, $ADA’s recent recovery has helped renew attention on the asset after a difficult year.
Cardano Remains Far Below Previous Levels
Despite recent gains, Cardano remains down approximately 65% over the past year. The cryptocurrency previously traded above $0.80 before entering a prolonged downtrend.
The decline has kept $ADA significantly below its 2021 peak. However, analysts now believe the extended consolidation phase could eventually support a major breakout if market conditions continue improving.
Whales Loading $ADA
Cardano whales are aggressively accumulating, with wallets holding at least 1 million $ADA now controlling a record 25.09 billion $ADA. This represents about 67.47% of the circulating supply, according to Santiment.
This accumulation trend has continued since December 2023, despite a 71% drop in $ADA’s market value over the past nine months. Santiment notes that this suggests large investors are positioning for a long-term recovery rather than exiting during the downturn.
🤑 Cardano’s key stakeholders have slowly but surely accumulated, consistently adding more and more of the existing supply to their bags, dating back to December, 2023.
🐳 Wallets with at least 1M tokens now hold 25.09B $ADA, which translates to 67.47% of the current existing… pic.twitter.com/knuSbfYtaE
— Santiment Intelligence (@SantimentData) May 13, 2026
Near-Term Targets
Separately, analyst Ali Martinez argued Cardano may be setting up for a rebound after months of downside pressure. He sees upside targets at $0.33 and $0.42 if momentum builds, but warns that $0.25 support must hold to keep the bullish setup intact.
In summary, the technical signal, combined with whale accumulation, is being viewed by traders as a possible early sign of recovery.