Despite the ongoing, significant plunge currently being experienced in the broader cryptocurrency market, some analysts are optimistic about certain crypto assets such as Cardano (ADA). Market analyst Crypto Patel believes that ADA could be preparing for a massive uptrend soon. Today, the analyst identified a pattern that is flashing for Cardano, which mirrors that same formation that triggered its renowned 2021 exponential spike.
The potential upside movement means Cardano is set to reverse its ongoing downtrend, as per Crypto Patel’s market revelation. Today, ADA recorded another 10.0% decline, making its price currently trade at $0.2513. Besides that, its price has been down 22.6% and 39.9% over the past week and month, respectively, further confirming its ongoing downturn.
Crypto Patel’s Forecast Based on Historical Market Performance
Based on ADA’s chart, the analyst identified that the asset’s recent 39.9% price fall as a possible catalyst for a massive upturn, similar to what the crypto token experienced in the past. Driven by the huge price declines, Cardano has finally formed a strong support around the $0.2503 region, as indicated by the analyst’s data.
ADA has just rested on the historical support level that has been in place since 2021. At the same time, the asset has formed a bullish falling wedge pattern in its downward movement, suggesting a looming upward reversal.
According to the analyst, Cardano is displaying signs of a potential breakout from the falling wedge pattern in its weekly chart. With the fall, ADA has entered into a well-established support zone where traders often buy tokens at a discount, a region that serves as a precursor to ADA’s remarkable rally.
The last time Cardano retested this support level with the formation of a falling wedge pattern was in 2021, when the technical setup triggered a 2100% jump. The asset also formed the same pattern in 2024, which enabled it to produce a 600% market rally.
With ADA’s current fall, the token has entered into an accumulation phase, with developing buying pressure from savvy investors who are positioning themselves in the market, setting the stage for an imminent uptrend. Based on the analyst’s market observation, the developing accumulation phase is primed to push ADA upward towards the $5.27 target (resistance level) from the current price level, which is a potential 2100% price growth.
Why ADA Is Gaining Strength
As per the analyst’s technical data, ADA has been trying to consolidate and stabilize as buyers enter its market around the $0.2503 support zone. With the developing buying demand, Cardano is beginning to gain strength driven by significant institutional catalysts, including the upcoming ADA futures on the CME Group and the recent launch of USDCx stablecoin on the Cardano blockchain.
Institutional market participants will have an opportunity to trade ADA futures as CME Group prepares to add Cardano futures next week, on Monday, February 9, 2026. Also, early this week, Circle, the provider of the USDC stablecoin, rolled out USDCX, a privacy-focused version of USDC, on the Cardano blockchain.
