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29 May 2024
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Ethereum

Cardano (ADA) Forecasted To Hit 15x: Here’s When

According to a tweet by trader Javon Marks, Cardano (ADA) could be on the verge of a massive surge, potentially reaching a staggering 15x increase from its current price.

ADA’s Impressive Breakout and Potential Upside

Marks emphasizes that ADA has made notable progress since breaking through a key resistance trend. Since then, Cardano has achieved approximately 222% of its first target of $2.7709. Despite the recent pullback, the trader suggests that this could be a sign of ADA strengthening its position for even further growth.

Also read: Shiba Inu: ChatGPT Predicts When SHIB Could Hit ATH

If the breakout holds, Marks predicts that ADA could see another 462% upside, reaching the target of $2.7709. However, the trader believes that the momentum of the previous breakout could set ADA for much higher levels, potentially reaching $7.80. This would represent an astonishing 1,500% increase from the current price.

Recent Price Performance

At press time, ADA is trading at $0.433, having experienced a 3.4% decrease in the last 24 hours and a 7.5% decline over the past 30 days. ADA is also down by 3.7% in the last seven days. However, Cardano has also spiked by a modest 17.7% in the last year.

While these short-term fluctuations may concern some investors, the overall trend and potential for growth, as outlined by Javon Marks, paint a promising picture for Cardano’s future.

Also read: Shiba Inu Weekly Price: Can SHIB Hit $0.00003?

Several factors contribute to Cardano’s potential for significant price appreciation. The platform has been consistently delivering on its development roadmap, with notable upgrades.

While Javon Marks’ prediction of a potential 15x increase for ADA is undoubtedly exciting for investors, it is essential to approach such forecasts with caution.

Also read: Chainlink Poised for Potential Upswing: How High Can LINK Go in May?

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