According to CryptoPotato, analysts are predicting a potential surge in the price of Cardano's ADA, which is currently trading at around $0.46. The optimistic target is set at $7.80, with some bullish forecasts suggesting the asset could reach short-term levels around $1.70 and possibly climb to a peak of $10. This indicates a strong confidence in the growth potential of ADA.
Cardano's native cryptocurrency has shown positive performance in the past few days. Analyst Javon Marks noted the recent progress and believes that ADA's current state might be mimicking that of 2021. During that year, the asset's value retraced substantially before skyrocketing to an all-time high of almost $3. Marks predicted that this scenario may repeat on a larger scale in the near future, setting a target of $7.80, which would represent a 1,500% increase. For such a price explosion to occur, ADA's market capitalization would need to reach a staggering $260 billion. Currently, the market cap stands at around $16 billion, making this forecast highly optimistic.
Another crypto analyst, Trend River, also envisioned a bright future for Cardano's token. He suggested that despite attempts by bears to push the price down, they will eventually 'get tired', which may result in a bull run.
Analyst Ali Martinez also shared his predictions. Nearly a month ago, he suggested that ADA's price was 'exactly where it should be,' envisioning a surge towards $1.70. Earlier this year, Martinez argued that ADA seemed ready to mirror its previous bull cycle, which could lead to a 'parabolic' peak of $10.