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Cardano may not look like it now, but analysts believe it remains a play that market enthusiasts should not miss for the coming bull run.
Notably, $ADA has relinquished earlier gains amid a double-digit decline in the previous week. In the week starting May 4, the coin rallied 13% to reach $0.288, as the broader market conditions turned positive.
However, it dropped 10% last week, revisiting the $0.250 level amid the crypto market capitulation. This has seen it give back most of the gains and return to key support levels. Amid the price uncertainty, analysts still see Cardano ($ADA) making waves in the coming bull market.
Key Points
- Analysis suggests that those looking at the short-term volatility are simply “sleeping on Cardano again.”
- This is because the asset’s chart is forming a pattern that is hard to ignore.
- Cardano has consolidated within a cup formation while holding key support areas.
- Prices are also stuck within a multi-year price range.
- The strong formation on the weekly chart ultimately points toward $4 in the next bull run.
The Cardano Chart Looks Strong
Market watcher Celal Kucuker suggested that those looking at the short-term volatility are simply “sleeping on Cardano again.” This is because the asset’s chart is forming a pattern that is hard to ignore.
An accompanying chart provides further context, showing a developing bullish pattern on the weekly timeframe. Here, $ADA entered a smaller curve after its December 2024 high near $1.32, with prices obeying the structure’s bottom and side boundaries.
After its August 2025 high at $1.02, Cardano entered a larger curve, with prices dropping 75% to its current price of $0.248. The dip also aligned with the curve’s bottom, finding support around the region despite price weakness.
The analyst sees this cup formation as bullish for $ADA in the long term. The building accumulation while holding key support levels usually precedes an explosive price move.
Cardano Multi-Year Price Range
Meanwhile, the broader pattern shows a multi-year price range that has suppressed the $ADA price. It fully entered this range in April 2022, and prices have since shuffled between the upper resistance and lower support.
Recent downtrends within the larger cup structure saw it retest the lower support near $0.235 in February and March, with each visit preceding a rebound. As long as Cardano keeps holding this multi-year support area, the chances of a measured move upward remain intact.
$ADA Targets $4 in Next Bull Run
According to Kucuker, the strong formation on the weekly chart points toward higher prices when bulls regain control of the market. From the chart, the first target is the upper resistance of the current range near $1.01, representing a 308% increase from the current market price.
Ultimately, Cardano targets $4 in the next bull run. The chart specifically highlighted a 1,621% rally to $4.27, marking a new all-time high for the altcoin. Notably, the outlook aligns with an earlier prediction from analyst Rasool Ahmadi.