TL;DR

ADA has been struggling for the past few weeks and even on a monthly scale, but theres a chance it could skyrocket to $2 under certain conditions, said a renowned analyst. The Cardano ecosystem and its native token have seen a substantial uptick in social sentiment lately, which could propel the aforementioned ADA rise. Cardanos native token was once the biggest gainer in the cryptocurrency industry after IOG founder and CEO Charles Hoskinson said he will be heavily involved with setting up a digital asset regulatory framework in 2025, working alongside the Trump administration.

His statement, as well as other notable developments around Cardano, pushed the underlying asset toward multi-year peaks of over $1.3, registered in early December.

However, ADA failed to maintain its run and even plunged toward $0.5 at one point. After briefly spiking to $1.2 on the heels of US President Donald Trump mentioning ADA among the possible participants in the countrys strategic crypto reserve, the token tanked once again and now struggles to remain above $0.7.

However, theres at least a theoretical chance for Cardanos coin to explode to new heights at $2 soon, according to Ali Martinez. To do so, though, ADA has a tall task as it needs a daily close above $1.2, which represents a 70% surge from its current levels.

A daily close above $1.15 will confirm this right-angled descending wedge, pushing #Cardano $ADA to $2! pic.twitter.com/VWHb9Bpw4h

While this hypothetical price surge might go into the unlikely category, at least for now under the current market conditions, ADA has proven in the past that it is capable of similar gains in a relatively short timeframe.

The overall sentiment around Cardano and its native token is quite bullish, as recently reported, which could lead to substantial price increases. A potential approval of an ADA ETF in the States could be another propeller of price jumps to new local peaks.