A crypto expert predicts Cardano (ADA) will double its 2021 all-time high, with a price target of $6. The expert also shared a timeline in which this goal could be achieved.
Cardano is one of the biggest risers in recent weeks. Thanks to favorable macroeconomic conditions, ADA has experienced an impressive price increase. The coin showed a gigantic growth of more than 80% in a week.
In addition to the broader market dynamics, there are also unique developments within Cardano that contribute to the upward trend. For example, there was speculation that founder Charles Hoskinson may collaborate with the US government on crypto policy. Since Hoskinson suggested this partnership, ADA has increased by 80%.
Market analyst predicts increase of 713%
Amid the recent rally, veteran analyst Ali Martinez expects Cardano to rise further, with a price target of $6. He predicts that this milestone will be reached between July and September 2025.
In a tweet on November 15, Martinez shared a graph supporting his prediction. According to the chart, ADA follows a similar price trend as during the 2020/2021 bull market. He points out striking similarities between the two cycles, such as a breakout from a price range and a 75% increase in both cases. Given this correlation, Martinez expects Cardano to experience another massive surge and reach $6 by September 2025.
Other predictions for Cardano
Martinez’s optimism is shared by other analysts, but their price targets differ slightly. Well-known crypto commentator Ben Armstrong, also known as BitBoy, predicts that Cardano could peak at $5 during this bull market. He cites a preliminary market range of $2.5 to $3.5, but believes ADA could push toward $5 if broader market sentiment remains positive.
Analyst Javon Marks is even more optimistic and predicts a price target of $7.77. He states that ADA has entered one of its most bullish phases ever, with an expected rise to $2.77 in the near term before passing the all-time high towards $7.77.
Cardano’s rise continues
With several experts bullish on ADA’s future, the cryptocurrency appears to be in a strong position. If the predictions are correct, Cardano could reach impressive heights in the coming years, supported by both technical and fundamental factors.
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Source: https://newsbit.nl/cardano-koers-naar-6-expert-deelt-tijdlijn-voor-indrukwekkende-stijging/
