The digital currency landscape stands agog as the potential surge of cryptocurrency Cardano (ADA), sends ripples through the market. Analysis by crypto expert Javon Marks highlights the possibility of a 15-fold price hike. Amid a tide of recent forecasts that steer towards an advantageous prospect for Cardano, Marks’ analysis shines a spotlight on what could likely be a significant upswing.
In what was revealed in a post he made on the erstwhile social media platform Twitter, Marks pointed out that ADA has made “major progress since breaking the resisting trend.” He further observed that the crypto token has made a concerted attempt to exceed a 200% gain, aiming for the initial target at $2.77709. According to him, the recent withdrawal Cardano encountered could potentially fortify it towards realizing a more exponential incline.
Enthusiastic backers and spectators look on as Marks predicts a colossal rise in Cardano’s value, as high as $7.80 from its prevailing price. This would represent a staggering 1,500% upswing for the crypto token. Such an increase seems all the more achievable given that crypto analyst Altcoin Daily also recently foretold that Cardano might touch $9 in this bullish phase.
Lending his voice to the chorus of optimism is Ali Martinez, another crypto analyst who presented an ultra-bullish scenario for Cardano. Martinez noted striking similarities between ADA’s price movements and its counterpart back in 2019, a period when it recorded a hefty 4,000% gain. Although Martinez concedes that past performances may not be a reliable template for future outcomes, he postulated that Cardano is capable of delivering a comparable or even surpassing performance.
To create these parabolic increases, Cardano will need to overturn the ebbing trajectory. Trend Rider, a keenly observant crypto analyst, hinted that such a turnaround could materialize shortly. He stressed that ADA’s sustaining of its support level indicates tenacity, suggesting if Cardano can keep this momentum for a week or two, the market skeptics will ebb, and the value of the crypto token will pick up steam from its current price point.
Crypto Capital Venture’s founder, Dan Gambardello, chimed in with his analysis. According to him, Cardano’s trajectory in this bullish phase will bear semblance to Ethereum’s in the previous bull run. With Cardano currently dancing around the level Ethereum touched around the 2020 Bitcoin halving, Gambardello expects a parallel success story to unravel with Cardano.
In a bid to assuage any fears, his analysis emphasized that Cardano was on course for its expected bull run, despite being down over 90% from its all-time high (ATH) months after the last Bitcoin halving. Consequently, it’s not presumptive to anticipate Cardano to charge forth soon, reminiscent of its striking performance in 2021.
Adding a bit of mystery to his prediction, Gambardello suggested the onset of this bull run could potentially coincide with the beginning of the Altcoin Season. However, he stopped short of providing a definitive timeline due to Bitcoin’s record-breaking performance before its halving. Despite the general air of uncertainty, he stressed the importance of exercising patience above all else. It seems that in the fast-paced world of cryptocurrency, the rule persists – slow and steady wins the race.
