Cardano (ADA) On the verge of a ‘bottom’ and ‘big bull market’ — Peter Brandt

Cardano (ADA), like XRP ( . The altcoin is up 30% in 2025, with ADA consolidating above $1 for the first time since April 2022.

One analyst said that the altcoin’s market structure is setting up for a potentially large rally as the altcoin is currently attempting to stay above the $1.10 resistance level.

Peter Brandt says Cardano is poised for a big bull run.

President-elect Donald Trump has been vocal about his incoming administration preparing for the establishment of a cryptocurrency-friendly Securities and Exchange Commission, transparent token guidelines, and better legal restrictions.

Cointelegraph reports that the incoming president is rumored to “embrace” strategic reserves along with other US-based digital assets, including Solana, USDC, and XRP. This speculation created a snowball effect in the market, with “altcoin season” chatter again capturing the market’s attention.

In light of this, veteran trader Peter Brandt noted that Cardano has “bottomed” regardless of alternative seasons, according to weekly charts.

The trader explained that the cryptocurrency asset recently formed a double bottom base that lasted for more than a year until it surpassed a local high of $0.81. As a result, the local high of $0.81 immediately turned into support and the price witnessed a “retest congestion”. said the merchant.

“There is no doubt about it: Cardano $ADAUSD has hit the bottom of the great bull market.”

Likewise, cryptocurrency analyst Altcoin Sherpa shared a similar view on ADA, boasting that the charts “look very strong.” Analysts expect Cardano’s bullish rise to continue as long as other retail-friendly assets continue to rise.

Related: Trump reportedly ‘embraces’ strategic reserves for US-based cryptocurrencies.

ADA aims to turn $1.10 resistance into support.

Adding further confirmation to Brandt’s analysis, ADA rebounded from the 0.5-0.618 Fibonacci retracement level, which is considered the golden zone. During an uptrend, traders utilize the key area in the 0.5-0.618 range, where the price is expected to briefly correct from previous local highs before reversing.

As can be seen in the chart, ADA’s most recent correction occurred on December 3, 2024, when the altcoin reached a new high of $1.32, before increasing to $0.76. The altcoin subsequently maintained its position above $1 and formed another major reversal signal with a double bottom pattern. .

Compared to XRP and SOL (SOL), ADA is still 64.7% below its 2021 all-time high of $3.09. Therefore, traders are expected to take note of ADA’s favorable risk-to-reward (R/R) ratio if the altcoin can test ATH again in 2025.

Related: 60% of cryptocurrency investors are young, educated, and invest less than $10,000. – Survey