Cardano (ADA) Could Explode to Almost $3 if History Repeats: Analyst

Cardano’s native token is among the best-performing cryptocurrencies (from the top 10 club) over the past week.

Its renewed momentum has naturally drawn more attention, with some market observers now projecting further gains.

The Rally Goes on?

ADA experienced a sudden and rather unexpected revival this weekend, rising to a monthly peak of around $0.19. As of this writing, it trades just south of that mark, representing a 13% increase on a seven-day scale.

The most probable catalyst for the upswing seems to be the accumulation from whales, with Ali Martinez revealing that these big investors have purchased more than 240 million tokens in just five days.

Meanwhile, X user JAVON MARKS believes that ADA’s recent performance resembles that of 2020-2021, which was followed by a massive bull run towards an ATH. That said, the analyst set a target of $2.90, which is currently 1,300% away.

Leon Voss Official also chipped in, claiming that ADA has broken above a long-term descending trendline that had acted as persistent resistance.

… Continue reading the full article at the original source below.