Sometimes, all it takes is one asset making a strong move for traders to start connecting the dots. Right now, that asset is Binance Coin (BNB), which just surged 20% in three days. The question being asked is: is Cardano (ADA) next?
Market analyst Ali Martinez spotted a familiar pattern. BNB’s breakout had all the signs - strong buying pressure, a technical breakout and a solid momentum shift, with former Binance CEO Changpeng Zhao glorifying the ecosystem and teasing the launch of his own meme coin.
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ADA, sitting at around $0.80, is showing similar signs. The thought process? If BNB was the first domino, ADA could be the next one to fall - upwards, potentially past the $1 mark.
If $BNB (left) is front-running the market, we should expect a similar price action for #Cardano $ADA! pic.twitter.com/RVkY4AoIzv
— Ali (@ali_charts) February 13, 2025Momentum in crypto can be contagious. Patterns repeat, assets move in tandem and traders look for familiar setups. It has happened before with these two assets, and some believe it could happen again.
ADA has been hovering around its current range for a while, consolidating, testing levels and waiting for a spark. If the BNB move is any indication, that spark might not be far off - especially with the news of the Cardano ETF breaking out this week.
The catch
Nothing in crypto moves in a straight line, though. The broader market plays a role, sentiment shifts and unexpected news can change everything. ADA might take off, or it might not. But the setup is there, the structure is holding, the buying interest is increasing and the breakout potential is looking stronger by the day.
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Wed, 02/12/2025 - 10:11 Cardano Whales Are Buying More ADA, Here's Why Price Might Skyrocket
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So what's next? ADA traders are watching key resistance levels, scanning for volume spikes and waiting for confirmation. If it goes over $1, it will prove the theory right and might pull in more buyers.
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