Cardano (ADA) with its innovative tech and loyal community, is still attracting investors. As the market moves up the question is can ADA break $2? Recent predictions from Peter Brandt are giving more hope for Cardano.

Whale Transactions Signal Increased Market Activity

On-chain data shows Cardano whale activity is up. Wallets holding 1-10 million ADA went from 2,453 on Jan 9 to 2,484, the highest since late December. More big holders are getting in.

Source: Santiment

Santiment data shows whale transactions over $100,000 are up as ADA is moving up. These big transactions are from influential market players and could mean more upside.

Bull Pennant Pattern Points To A Possible Breakout

ADA’s price chart displays a bull pennant formation, a technical indicator often preceding significant price movements. This setup involves a sharp upward price movement followed by consolidation within converging trend lines. Analysts view this as evidence of buyer accumulation, hinting at a possible breakout.

Source:X

Currently trading at $1.11, ADA has shown a 3.23% increase in the past 24 hours. The asset has formed a double-bottom channel pattern with critical support levels at $1 and $0.90 and resistance near $1.15. The MACD indicates a bullish crossover, while the RSI’s overbought status suggests robust buying momentum. Analysts are watching closely for a breach of the $2.15 resistance level as a sign of continued upward potential.

Veteran trader Peter Brandt recently sparked optimism with his analysis of ADA’s price charts. Highlighting a double-bottom base pattern, Brandt suggested that ADA may have reached a market bottom, signaling the start of a grand bull market. He also emphasized the potential for an altcoin rally, further enhancing ADA’s prospects.

Ecosystem Growth And Upcoming Developments

Despite its strengths, Cardano’s ecosystem is smaller than competitors like Solana. Currently, Cardano hosts 34 decentralized finance (DeFi) applications with a total value locked (TVL) of $558 million. Minswap, the largest decentralized exchange (DEX) on Cardano, handles less than $10 million in daily volume, significantly lower than Solana’s Raydium, which processes over $2 billion daily.

Cardano total value locked (TVL). Source: DeFillama

However, upcoming projects could transform Cardano’s ecosystem. The planned integration of BitcoinOS and the launch of Midnight, a zero-knowledge scaling platform, are expected to enhance the network’s capabilities. BitcoinOS could unlock access to over $1 trillion in assets, while Midnight aims to attract developers and boost ecosystem activity. Additionally, the rising popularity of meme coins within the Cardano ecosystem could increase transaction volumes.

ETF Approval Could Boost Cardano’s Institutional Appeal

The potential approval of exchange-traded funds (ETFs) could also boost ADA’s institutional appeal. According to Polymarket, a market prediction website, the SEC may soon approve ETFs for Ripple’s XRP and Solana, with Cardano potentially following. An ADA ETF would likely attract substantial institutional capital, given the project’s U.S.-based roots and a market cap exceeding $35 billion.

Other reports suggest Trump is considering an American Crypto Reserve that would hold assets such as Solana and XRP. Cardano leaders such as Charles Hoskinson, who is a Washington insider, will be keen to have ADA in the mix as well.

The Cardano communities of Japan and Korea are set to unite for a collaborative meetup. This event, part of the Ambassador Program’s Impact Pot, aims to discuss governance issues and strengthen ties within the community over Korean BBQ. Scheduled for Saturday, March 22, 2025, in Seoul, South Korea, the meetup has sparked considerable excitement among community members, who are eager for its successful execution.

Cardano Eyes $2 Target As Momentum Builds

ADA’s technical indicators suggest a strong upward trajectory. Over the past week, ADA has surged by 20.44%, reflecting a broader market recovery. Exponential Moving Averages (EMAs) show a bullish configuration, with shorter-term EMAs positioned above longer-term ones.

ADA/USD 4-hour chart.Source:TradingView

A golden cross—a significant technical signal—formed two days ago, further reinforcing ADA’s bullish outlook. Currently, ADA is up by 5.39% in the last 24 hours and is nearing the first resistance level at $1.119. Breaking this resistance could pave the way toward the next target of $1.15.

A golden cross—a big technical signal—formed 2 days ago, so ADA is looking good. Currently up 5.39% in the last 24 hours and nearing the first resistance at $1.119. If ADA breaks this resistance we could be heading to $1.15.

But ADA needs to hold $1.03. If it dip below this we could reverse and head to $0.879 which is 17.9% down.Currently Cardano is 9th on CoinMarketCap with a live market cap of $38.99B. Circulating supply is 35,164,286,309 ADA out of 45 billion. So plenty of room to grow.

Conclusion

Cardano’s price action, whale transactions, and ecosystem growth all point to $2. These, plus the technical and institutional interests, all point to bullishness. The market is waiting for more.

ADA is being driven by whale activity and improving market conditions. Regulatory news (SEC decisions) will add more stability to the crypto space. $1.15 is the key resistance, and if we break above this, we could see higher prices for ADA in 2025.