It is currently going well with the cryptomarket, and Cardano (ADA) benefits fully from that. In the past week, the digital currency recorded an increase of around 16%. A neat plus, who, according to the well -known analyst Javon Marks, could just be the start of something much bigger.
Cardano breaks out
On X, Marks shared his optimistic view of Cardano. According to him, Ada is about to start an impressive race rally. His technical analysis points to a possible increase towards $ 2.70 to $ 2.91, good for a profit of no less than 304% compared to the current appreciation of $ 0.72. If Ada makes this leap, the coin will come close to its all-time High (ATH) of $ 3.09 from September 2021.
What does this prediction give extra power? According to Marks, Cardano recently broke out from a long -term triangle pattern. This is a classic technical signal that is often seen as the prelude to sturdy price movements. Such outbreaks indicate that a period of consolidation, in which the Ada Koers moved in an increasingly closer reach, has come to an end. Often a new trend follows, and in the case of Cardano that seems to be upwards.
Historical cartridges
In addition to this technical development, analyst Steven Anderson sees something striking: a historical pattern that seems to be repeating. He points to the strong resemblance between the current consolidation phase of ADA and the price trend just before the explosive increase in the previous bull market to his peak value of $ 3.09.
On the basis of technical indicators and the recent accumulation trends, Anderson concludes that Cardano can again be on the eve of a substantial course jump. If history repeats itself, this could be the start of a new, impressive advance. But as always that is of course no certainty.
Source: https://newsbit.nl/cardano-in-de-startblokken-voor-304-stijging-voorspelt-analist/
