Cardano (ADA) Looks ready to make a move to the upside, with… Cryptoanalyst Javon Marks Revealing what could make a crypto token see its price increase by 15 times. Marks' analysis comes amid recent price forecasts, which paint a bullish outlook for Cardano.
How could Cardano see a 15x price increase?
Marx Marked with an X (formerly Twitter) mail That ADA has shown “significant progress since breaking the resistance trend.” The cryptocurrency analyst also noted that the cryptocurrency token attempted to move more than 200% towards the first target at $2.77709 and claimed that Recent withdrawal Cardano facing it can strengthen it to achieve a more parabolic height.
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Source: X
This development is why Marks believes Cardano could rise to $7.80 from its current price, which would represent a 1,500% upside for the cryptocurrency token. Rising to this level seems more feasible, considering cryptocurrency analyst Altcoin Daily as well I predicted recently That Cardano will rise to $9 on this The bull ran.
while, Cryptoanalyst Ali Martinez She presented a very bullish case for Cardano, noting that the cryptocurrency token was currently mirroring the price action since 2019, when it posted price gains of over 4,000%. While Martinez acknowledged that history may not repeat itself, he noted that Cardano could still make an impressive move similar to what happened in 2019.
For Cardano to experience such parabolic moves, the cryptocurrency token needs to see a reversal in its current downtrend. Cryptocurrency analyst Trend Rider hinted that this could happen soon, noting that ADA still maintains its support level. According to him, if Cardano can maintain this support for one to two weeks, Bears It will get tired, and the crypto token will bounce from its current price level.
Analysis of the rise of Cardano
And Gambardellofounder of Crypto Capital Venture again Proposal Cardano's price movement in this uptrend will likely mirror Ethereum's movement in the recent uptrend. He pointed out that the former is currently about that level Ethereum It was around 2020 Bitcoin halving. As such, he expects Cardano to enjoy similar success to that of Ethereum in its recent bull run.
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The cryptocurrency analyst also confirmed that Cardano remains on track for its bull run, noting that it has also fallen over 90% from its all-time high (ATH) months after Bitcoin halved in the latest bull run. As such, he still expects Cardano to make a run soon enough, just like it did in 2021.
The cryptocurrency analyst hinted at this Bull race for Cardano It will likely start during Altcoin season. However, he was not sure when this altcoin season might start since Bitcoin has reached a level New Ath Before half (which has never happened before). He added that this Altcoin season may not come until December. For now, the analyst noted, 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
