Cardano has recently been the subject of numerous bullish predictions, particularly in relation to the upcoming Chang upgrade. The optimism surrounding this upgrade has sparked enthusiasm among supporters and investors alike. One such optimistic prediction comes from crypto analyst Alan Santana, who foresees a significant rally in the altcoin’s price that could propel it to new all-time high prices.
Over the past three years, Cardano’s price has experienced multiple waves of bullish and bearish cycles. Following the all-time high price of $3.10 in 2021, the bears seem to have gained the upper hand, leading to a downward trend in the price. While this downtrend might deter some investors, Santana highlights it in his bullish analysis. According to Santana, the period between the previous all-time high and the beginning of an upward trend in 2023 indicates that Cardano was in a bear market. This was followed by a consolidation phase throughout 2023, with the price beginning to rise at the start of 2024.
During this initial bullish breakout phase, Cardano’s price surged from $0.24 to $0.79, marking a significant increase. Santana refers to this phase as the “entree or appetizer before the major bull-market,” suggesting that it is a precursor to more substantial gains in the future. Despite a subsequent decline from the local peak of $0.79, Santana dismisses it as a minor correction that will not impede the upcoming bull cycle.
Santana’s analysis indicates that Cardano’s price is likely to bottom around $0.22 before bouncing back and reaching new heights. In the short term, the targets include a 284.5% increase to $1.36 and a 475.39% increase to $2. Looking ahead, Santana predicts even more explosive rallies for the ADA price, with two standout scenarios. The first involves a 1,272.18% increase to reach a new all-time high of $4.8, while the most ambitious rally foresees a 2,200% surge that would elevate the price to $8.
The bullish predictions surrounding Cardano, particularly in light of the upcoming Chang upgrade, have generated significant excitement among investors. Analyst Alan Santana’s optimistic outlook on the altcoin’s price trajectory, despite recent setbacks, provides a hopeful perspective for Cardano supporters. While the future remains uncertain and market trends are subject to change, Santana’s analysis offers a promising glimpse into the potential bullish future of Cardano. Investors should approach any investment decisions regarding Cardano with caution and thorough consideration of market dynamics.
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