Cardano (ADA) Looks like it's ready to move upwards, though. Crypto Analyst Javon Marks We reveal what causes crypto token prices to rise 15x. Marks’ analysis comes amid recent price predictions that paint a bullish outlook for Cardano.
How does Cardano increase in price by 15x?
mark Mentioned by X (formerly Twitter) post The ADA said it has shown “significant progress since breaking the trend of resistance.” The crypto analyst also noted that the crypto token is attempting to rally more than 200% towards its initial target of $2.77709, claiming: Recent Cardano pullbacks When faced with it, you may be able to strengthen it and achieve even more parabolic rises.
Source: X
With this development, Marks believes Cardano could rise as much as $7.80 from its current price, which would represent a 1,500% appreciation for the crypto token. A rise to that level seems more realistic considering that crypto analyst Altcoin Daily also said: recently predicted Cardano will go up to $9 now Cattle running.
meanwhile, Ali Martinez, cryptocurrency analyst made a very bullish case for Cardano, noting that the cryptocurrency token is now mirroring the price trends of 2019, which led to a price increase of over 4,000%. While Martinez acknowledged that history may not repeat itself, he suggested that Cardano could still make an impressive move like it did in 2019.
For Cardano to experience such a parabolic move, the crypto token would need to reverse from its current downward trend. Cryptocurrency analyst Trend Rider noted that ADA is still holding a support level, hinting that it could happen soon. According to him, if Cardano can maintain this support for a week or two, bears It will get boring and the crypto token will bounce off its current price level.
Analyzing the Cardano bull market
Dan Gambardellofounder of Crypto Capital Ventures, again was suggested Cardano’s price action during this bull market is likely to mirror Ethereum’s price action during the previous bull market. He noted that the former is currently at about the next level. Ethereum It was around 2020 Bitcoin halving. As such, he expects Cardano to see the same kind of success that Ethereum enjoyed during the last bull market.
The crypto analyst also assured that Cardano is still on the bull market trajectory, with Cardano still trading more than 90% from its all-time high (ATH) months after Bitcoin halved during the last bull market. He said it had fallen. As such, he still expects Cardano to be as quickly successful as it was in 2021.
Cryptocurrency analysts suggested that Cardano bull market It will probably start in the meantime altcoin season. However, with Bitcoin hitting all-time highs, it was unclear when this altcoin season would begin. New ATH Before half-life (which has never happened before). He added that this altcoin season may not arrive until December. For now, analysts said 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
