Will Cardano Price Explode? Analyst Shares Prediction of Potential 150% ADA Upswing

In the cryptocurrency market, the race to surpass established price marks has been fervent and quite intense, with several crypto assets battling to capture investors’ attention. However, Cardano (ADA) has been standing out with its excellent growth and development of its ecosystem. That being said, is the price of Cardano about to explode?

Renowned cryptocurrency analyst Ali Martinez shared a very optimistic prediction regarding the growth and price appreciation of the Cardano token. In his analysis, Martinez highlighted the potential for ADA to see a 150% price rally.

In a recent analysis, the cryptocurrency expert observed a pattern of Cardano from the years 2018 to 2021. In his prediction, Martinez highlighted that Cardano will consolidate at the price level of $0.55 to $0.80 in the coming weeks , then rising to US$1.70.

“So far, Cardano resembles the pattern observed from 2018 to 2021. If this fractal continues, we anticipate $ADA to consolidate in the $0.55 to $0.80 range in the coming weeks, followed by a rise to $1.70. Following this recovery, expect a period of further consolidation, setting the stage for a breakout to $5.”

So far, #Cardano resembles the pattern observed from 2018 to 2021.

Should this fractal continue, anticipate $ADA to consolidate in the $0.55 to $0.80 range in the coming weeks, followed by a surge to $1.70. After this upswing, expect a period of further consolidation, setting… pic.twitter.com/46LIp2hkMx

— Ali (@ali_charts) March 16, 2024

At the time of publication, the price of Cardano was quoted at US$0.6842 with an increase of 1.0% in the last 24 hours.

Cardano Adoption Reaches Historic Peak

The Cardano cryptocurrency has stood out, not for price explosions, but for promising signs of adoption and engagement on the network. Although the price of ADA has not yet touched the US$0.81 mark this year, the platform has generated anticipation with developments and activity on the network that suggest a promising future.

Recently, data revealed that Cardano is seeing unprecedented growth in terms of active addresses. According to information released, the monthly count of these addresses reached a peak that had not been seen for a year, reaching 596,915 active addresses in the last 30 days, as recorded on March 11. This number is significantly higher than that observed in September 2023, which had 279,000 addresses, marking the lowest rate of the year.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.