The price of Cardano (ADA) has staged an impressive rally in recent days. Since the start of the new year, the coin has risen from around $0.85 to a current level of $1.07. This means an increase of no less than 25% in just three days.
According to experts, this upward trend of ADA could continue for the rest of the year. Analyst Javon Marks even expects that the popular altcoin can climb to a level of $7 by 2025.
Prediction based on historical data
Marks bases his prediction on historical price data. In the short term, he foresees a rise to the $2.77 price level, where Cardano may encounter resistance. A successful break above this limit would pave the way for a price rally that will take the ADA price towards $7. This would represent a spectacular increase of 550% from the current price and would bring Cardano’s total market value to over $250 billion.
Cardano bull rally underway
Well-known on-chain analyst Ali Martinez agrees with the optimistic outlook. He expects the ADA price could rise to $4, an increase of more than, in the coming weeks 270% in the short term. According to Martinez, the current bull run shows strong similarities to the 2021 rally. He believes Cardano is capable of achieving a similar price explosion.
Strong foundations support growth
The fundamental strength of the Cardano network plays an important role in the positive outlook. In 2024, no fewer than 100,000 new smart contracts were launched on the network, further strengthening growth and adoption. In addition, whales bought millions of dollars worth of ADA during a market dip in December, indicating continued interest from major investors.
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Source: https://newsbit.nl/crypto-expert-voorspelt-prijsexplosie-voor-cardano-tot-7/
