- Cardano (ADA) has risen nearly 11% this week, trading around $0.81 with a $28.74 billion market cap.
- Technical analysis and bullish momentum from Bitcoin and Ethereum support a potential price target between $2.85 and $3.10.
- Analyst Javon Marks forecasts a short-term 52% gain and a possible longer-term rise toward $2.90.
Cardano (ADA) has recently showcased a remarkable uptick in its valuation, reflecting a burgeoning investor confidence. Over the past week, ADA has climbed approximately 11%, now trading near $0.81, with a market capitalization sitting at $28.74 billion. In the last 24 hours alone, the coin has seen a promising 3% increase. These developments signify Cardano’s resilience and its continued standing among the top cryptocurrencies, as evidenced by the trading volume hovering around $980 million, according to CoinMarketCap.
Source: CoinMarketcap
This recent rally in the cryptocurrency market is largely fueled by the solid performances of Bitcoin and Ethereum. Bitcoin’s steadfast position above critical support levels and Ethereum’s recent surge past $4,000 contribute to a broader bullish sentiment that has positively impacted various altcoins, including ADA. This collective momentum is attracting renewed attention from both investors and traders alike.
Cardano Targets $2.85 to $3.10 Range
With technical indicators showcasing promising signals, Cardano appears poised for further gains. Analyzing the 2-day Money Flow Index (MFI)—which assesses the buying and selling pressure—reveals a notable upward trend. This suggests a growing bullish sentiment toward ADA, inspiring optimism about its price trajectory.
Analysts are eyeing potential price targets within the $2.85 to $3.10 range based on logarithmic price charts. Such targets signal a substantial upside, presenting an enticing opportunity for investors looking to capitalize on potential market shifts.
Analyst Predicts 52% Short-Term ADA Gain
Crypto market strategist Javon Marks has made headlines with an optimistic forecast for ADA, predicting a potential +52% increase that could push its price above the $1.20 mark in the short term. This forecast is underpinned by historical patterns concerning breakout setups, which have often heralded significant rallies for Cardano.
Source: X
Looking beyond the immediate future, Marks suggests that if the bullish trajectory persists, ADA prices could rise even further, potentially reaching the $2.90 mark. This would signify an extraordinary 260% increase from current levels, capturing the attention of bullish investors eager to enter the market amidst favorable conditions.
Also Read: Cardano Price Prediction 2025: ADA Surges on Plomin Hard Fork and ETF Speculation