Cardano (ADA) Price Soars: Top Analyst Predicts Potential 1,500% Increase

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Cardano (ADA) has seen remarkable gains, surging over 222% since breaking through resistance at $2.7709. Analysts, including crypto expert Javon Marks, suggest that the recent pullback might be setting the stage for further upward movement. Marks has even forecasted a potential 1500% surge soon. 

Cardona Eyes For 1500% Surge

Renowned crypto analyst Javon Marks has highlighted the significant potential for Cardano (ADA) following its impressive 222% surge since breaking through resistance at $2.7709. 

$ADA (Cardano) and a 15X

Prices of ADA showed major progress since breaking the resisting trend, climbing roughly +222% towards its first target at $2.7709 and the recent pullback could be strengthening them for even more climbing!

With this breakout holding, another +462%… https://t.co/r5qOA2trtV pic.twitter.com/lQAzOo8krF

— JAVONMARKS (@JavonTM1) May 10, 2024

According to Marks, the recent pullback observed in ADA’s price could be setting the stage for even more substantial gains soon. Marks believes that ADA’s current state might be mimicking that of 2021, where the asset’s value retraced substantially before skyrocketing to an all-time high of almost $3.

For the short term, traders forecast a potential 462% increase from the current level, highlighting a bullish outlook for ADA. On the flip side, Marks predicts a substation surge to nearly 1,500% from current levels, aiming for $7.80. 

Meanwhile, this positive sentiment is driven by the breakout pattern observed in ADA’s price, indicating that the crypto may be poised for significant growth

Cardano Holding Strong

In a recent tweet post, another analyst, Trend Rider, has also made a similar prediction about Cardano. Trend Rider predicts that Cardano is holding onto a key support level, suggesting that the bearish trend will come to an end in the upcoming week or two. After the bears settle, Cardano’s price is expected to rally for an extended period.

Such a price surge would require ADA’s market capitalization to reach a staggering $260 billion. Currently, the market cap stands at around $16 billion, making the forecast highly optimistic.

As of now, Cardano is trading at $0.44, representing a lower point in its recent performance. The price of Cardano has been steadily declining over the past days and weeks.