As a seasoned crypto investor with a keen eye for spotting promising opportunities, I’ve been following Cardano closely. With my years of experience navigating the volatile world of cryptocurrencies, I can say that the upcoming Alonzo hard fork, or “Changement” as some enthusiasts call it, has certainly piqued my interest.
As a crypto investor, I’ve noticed an increasing buzz about Cardano lately, particularly surrounding the long-awaited Alonzo upgrade, which is being hailed as one of the most significant updates for the network in years. This excitement has ignited a surge of optimism among supporters like myself. Furthermore, renowned crypto analyst Alan Santana has recently added to this bullish sentiment by predicting a substantial price rally for Cardano that could propel it to unprecedented all-time highs.
Where Cardano Is In This Cycle
Over the past three years, the value of Cardano has experienced both bullish surges and bearish declines, with the latter seemingly taking the upper hand. This downturn began following the ADA‘s peak price of $3.10 in 2021, and since then, its trajectory has largely been on a downward trend. Contrary to what one might expect, this persistent drop doesn’t seem to deter crypto analyst Alan Santana, who presents a bullish outlook in his analysis.
The crypto analyst suggests that while the Cardano price reached a new peak and then started rising again around 2023, this indicated a bear market for the altcoin. However, this was followed by a phase of consolidation, spanning from the start to the end of 2023.
After the consolidation period ended, the price of ADA started to increase at the beginning of 2024. This significant rise brought its price up from as little as $0.24 to as much as $0.79. Santana calls this stage the “initial bullish surge.” The significance of this phase lies in that it is what the analyst terms the “introductory or amuse-bouche before the main bull-market.” In other words, if the analyst’s prediction holds true, then this initial surge serves as a prelude to what’s expected later on.
Concerns have arisen among Cardano investors due to the drop in value following the local high of $0.79, with the altcoin losing approximately 50% since then. Nevertheless, crypto analysts view this as a “minor adjustment” that won’t significantly impact the market when the bull phase resumes.
How High Can The ADA Price Go?
Based on the study, it appears that Santana anticipates the Cardano price will hit a low of approximately $0.22. Following this dip, a rebound is expected, potentially causing the price to soar even more. Afterwards, both short-term and long-term goals for the price are set.
Initially, short-term goals involve a significant jump of 284.5%, reaching approximately $1.36, and a further boost of 475.39%, taking it up to $2. However, the crypto analyst anticipates even more dramatic spikes in the future for the ADA price in the long term. Two potential rallies catch the eye: one forecasts a surge of 1,272.18% leading to a new peak at around $4.8. The most significant anticipated rally is an astounding 2,200% increase that would drive the price up to $8.
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2024-08-24 07:34