Cardano Ready For 15x Move, Crypto Analyst Reveals The Major Drivers
2024年5月12日 - 7:00AM
NEWSBTC
Cardano (ADA) looks primed to make that move to the upside, with
crypto analyst Javon Marks revealing what could make the crypto
token see a 15x increase in its price. Marks’ analysis comes amidst
recent price predictions, which paint a bullish outlook for
Cardano. How Cardano Could See A 15x Increase In Its Price
Marks mentioned in an X (formerly Twitter) post that ADA has shown
“major progress since breaking the resisting trend.” The crypto
analyst also noted that the crypto token attempted to move over
200% toward the first target at $2.77709 and claimed that the
recent pullback Cardano faced could strengthen it to achieve an
even more parabolic rise. Related Reading: Bitcoin
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Source: X This development is why Marks believes Cardano could rise
to as high as $7.80 from its current price, representing a 1,500%
increase for the crypto token. A rise to that level looks more
feasible, considering that crypto analyst Altcoin Daily also
recently predicted that Cardano will rise to $9 in this bull run.
Meanwhile, crypto analyst Ali Martinez made an ultra-bullish case
for Cardano, noting that the crypto token was currently mirroring
its price action from 2019, when it made a price gain of over
4,000%. While Martinez acknowledged that history might not repeat
itself, he suggested that Cardano could still make an impressive
move similar to 2019. For Cardano to experience such
parabolic moves, the crypto token needs to see a reversal in its
current downtrend. Crypto analyst Trend Rider hinted that could
happen soon, noting that ADA was still holding its support level.
According to him, if Cardano can hold on to this support for 1 to 2
weeks, the bears will tire, and the crypto token will bounce from
its current price level. Analyzing Cardano’s Bull Run Dan
Gambardello, the founder of Crypto Capital Venture, again suggested
that Cardano’s price action in this bull run will likely mirror
Ethereum’s in the last bull run. He noted that the former is
currently around the level that Ethereum was at around the 2020
Bitcoin halving. As such, he expects Cardano to enjoy a similar
success to the one Ethereum enjoyed in the last bull run.
Related Reading: Crypto Analyst Says XRP Price Can Break Out From
Falling Pennant, But Can It Reach $1? The crypto analyst also
assured that Cardano was still on track for its bull run, stating
that it was also down over 90% from its all-time high (ATH) months
after Bitcoin halved in the last bull run. As such, he still
expects Cardano to make a run soon enough, just like it did in
2021. The crypto analyst hinted that Cardano’s bull run would
likely begin during the Altcoin Season. However, he wasn’t sure
when this Altcoin season would likely start since Bitcoin hit a new
ATH before the halving (which has never happened before). He added
that this Altcoin season might not come until December. For now,
the analyst noted that patience is the name of the game. ADA
bulls struggle to hold $0.44 | Source: ADAUSDT on Tradingview.com
Featured image from LinkedIn, chart from Tradingview.com
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