Why Cardano Price Could Jump 1500% Soon: Analysts Take On ADA

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As a long-term crypto investor with some experience under my belt, I’ve seen Cardano’s (ADA) ups and downs. The token had an impressive run during 2021 and early 2022, but the price has been struggling since then. The ATH was pushed away by more than 85%, which left many investors disheartened.

Although ranking among the leading cryptocurrencies, Cardano‘s performance has been underwhelming. The peak period for Cardano’s token, ADA, was between 2021 and 2022. However, this prosperous phase did not endure, leaving Cardano battling to maintain its market value for the past two years. The price slump resulted in the all-time high (ATH) being pushed approximately 85% further away.

There can be various factors behind this mediocre performance of the cryptocurrency. But, there is new hope now, as the analysts believe a 1500% surge could happen in the next few days. In this blog, let us discuss how the Cardano price could jump 1500% soon.

Cardano Is Ready For A Big Rally

As a crypto investor, I’ve been closely following the analysis of Javon Marks, a well-known figure in the industry. He’s expressed optimism about the potential price surge of Cardano (ADA). According to him, ADA has made significant progress by breaking through resistance trends. Consequently, I anticipate a substantial increase of around 222% soon, which would bring the value up to $2.7709. However, Marks’ bullish outlook doesn’t stop there; he believes that with a potential 1500% surge, ADA could reach an impressive target price of $7.80.

As a researcher studying the cryptocurrency market, I can tell you that reaching the price of $2.7709 from the current value presents a significant hurdle. However, should the Cardano price manage to accomplish this feat, the subsequent upswing would amount to an impressive 460% increase, paving the way for the next target.

Significantly, Javon’s forecast wasn’t reliant only on present circumstances; instead, he incorporated historical data as well, bolstering the credibility of his prediction.

$ADA (Cardano) and a 15X
The price of ADA has made significant strides since overcoming resistance, increasing approximately 222% on its path to the initial objective of $2.7709. The recent dip in the market may actually fortify this upward trend and lead to further gains.
With this breakout holding, another +462%…
— JAVONMARKS (@JavonTM1) May 10, 2024

An alternate analysis by Trend Rider indicates that Cardano may be clinging to its current support, signaling an imminent end to the bearish trend within the next week or two. Following this correction, the value of Cardano is expected to significantly increase in the ensuing period.

As a researcher, I’ve noticed that some analysts have been rather optimistic about Cardano’s price potential for quite some time now. Around two months ago, during the early days of March, Ali was among those who predicted the Cardano bull rally. He reasoned that if the current trend persisted, the price of ADA could reach as high as $10, drawing parallels with the previous bullish cycle.

As a crypto investor, I’ve come across predictions suggesting that before a significant price rally for Cardano (ADA), there would be a correction zone. Given that ADA’s price is currently experiencing a slump, this correction zone might be what the speaker referred to.

Gemini Listing  Is the Start of The Cardano Price Rally

For some time now, there have been persistent reports in the crypto market that Gemini is considering adding the ADA token to its platform. This speculation gained momentum following a favorable tweet from Gemini about X, where they showcased the unique attributes of ADA. Should this addition materialize, it would undoubtedly attract more investors and trading activity to Cardano, potentially driving up its price.

Cardano $ADA is an open-source protocol democratizing the process of consensus and governance
Among PoS (Proof of Stake) blockchain solutions, it was designed to stand out by being highly expandable, seamlessly compatible with other systems, and built for long-term use.
— Gemini (@Gemini) May 11, 2024

As a Cardano investor, I’ve noticed that the current price sits at $0.4337 on the charts. Unfortunately, this is below where it has been performing recently. The downward trend for Cardano has persisted for quite some time now, weeks even. However, there’s a silver lining: the trading volume has seen a significant increase of over 57%. This surge in volume suggests that there’s growing demand for Cardano tokens.

As an analyst, I believe that the listing of Gemini on additional exchanges will contribute significantly to a noticeable price increase and potentially even ignite a price rally.

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2024-05-14 11:28