Recently, Cardano has been the subject of numerous bullish predictions, particularly in anticipation of the Chang upgrade. This upgrade is considered to be one of the most crucial updates for the network in a significant amount of time, sparking a surge of optimism among its supporters. Notably, crypto analyst Alan Santana has put forth a bold prediction regarding a substantial rally in the altcoin’s price, potentially leading to new all-time high prices.
Over the past three years, the price of Cardano has experienced various waves of bullish and bearish cycles. Unfortunately, it seems that the bears have prevailed, especially after the altcoin reached its current all-time high price of $3.10 in 2021. Since then, the price has mostly been on a downward trajectory. While this might typically deter investors, Alan Santana highlights this in his bullish analysis.
Santana’s analysis points to a specific timeline for Cardano’s price movements. According to him, the period following the new all-time high in 2023 indicated a bear market for the altcoin. However, this was succeeded by a consolidation phase lasting from early 2023 to the end of the year. Subsequently, in early 2024, the price of ADA began to climb, soaring from $0.24 to $0.79. Santana labels this phase as the “initial bullish breakout,” signaling the potential for further gains.
The significance of this initial breakout lies in its indication of what Santana terms as the “appetizer before the major bull market.” If his analysis proves correct, this initial surge is merely a preview of the substantial gains to follow. Despite a subsequent decline wherein the altcoin lost approximately 50% of its value, Santana refers to this as a “minor correction” insignificant in the broader bull cycle.
Based on Santana’s assessment, Cardano’s price is expected to bottom out around $0.22 before rebounding and climbing higher. Short-term targets encompass a 284.5% increase to $1.36 and a 475.39% surge to $2. Looking further into the future, Santana anticipates even more explosive rallies for ADA. Of note are projections of a 1,272.18% increase to a new all-time high of $4.80, along with a staggering 2,200% surge that could propel the price to $8.
The future of Cardano appears to be filled with optimism and potential, especially in light of the bullish predictions put forth by analysts like Alan Santana. While the recent price fluctuations may have caused some concern among investors, Santana’s analysis suggests that these are merely bumps in the road leading towards significant price gains. As always, it is crucial for investors to conduct their research and consider various factors before making any investment decisions in the volatile world of cryptocurrencies.
