Cardano has lagged behind this week’s broader altcoin rally, but one analyst thinks the dip may have carved out a buying opportunity. Despite easing macro pressure sending many large-caps higher, ADA has struggled to hold a sustained move above roughly $0.26. Still, market pundit Ali Martinez — writing on X on April 17 — says Cardano may have found a durable floor that could set the stage for a major rebound.
The level to watch is $0.249. Martinez highlights that this price has repeatedly acted as a demand zone for ADA, producing multiple bottoms and subsequent rebounds. Earlier this year ADA revisited that level in March and again in April, echoing past behavior that traders often look for when gauging trend reversals.
History supports the case for a big bounce: after touching the $0.249 area in September 2023, ADA later rallied more than 200% into roughly $0.80 in Q1 2024. Similarly, an 85% surge followed a prior test of the same support in early 2023. Based on those precedents, Martinez’s read of price-action indicators points to a potential upside range between about 80% and 200% over the coming months — though he and others warn that a decisive break below $0.249 would undermine that bullish thesis.
Price snapshot: ADA was trading near $0.2615 at the time of writing, up a bit more than 2% over 24 hours. That modest uptick came as some market pressure eased — reports that Iran reopened the Strait of Hormuz on April 17 helped calm geopolitically driven risk — but Cardano’s weekly performance remains muted versus peers. Ethereum and XRP climbed nearly 10% over the past week, while ADA is up only around 3% and still sits more than 4% below its level from a month ago, per CoinGecko.
Bottom line for traders: $0.249 is the critical line in the sand. If it continues to hold, history suggests a meaningful rebound is possible; if it fails, the path to a renewed rally becomes much harder. Watch price action around that demand zone and broader market catalysts for confirmation.
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