Cardano (ADA) Price Predicted to Explode by 1,500%: A Plausible Target or a Ridiculous Forecast? (2024)

TL;DR

• Analysts predict that Cardano’s ADA, currently priced at around $0.46, could replicate its 2021 surge, with an optimistic target set at $7.80.
• Additional bullish forecasts suggest the asset might reach short-term levels around $1.70 and possibly climb to a “parabolic” peak of $10, indicating strong confidence in its growth potential.

Where Is ADA Headed?

Cardano’s native cryptocurrency has flashed green in the past few days, currently trading at approximately $0.46 (per CoinGecko’s data). One analyst who noted the recent progress is the X user, JAVONMARKS.

The trader believes that ADA‘s current state might be mimicking that of 2021. Back then, the asset’s value retraced substantially before skyrocketing to an all-time high of almost $3.

The analystpredictedthat thescenario may repeat at a larger scale in the near future, setting a target of $7.80 or a whopping 1,500% increase.

Such a price explosion would require ADA’s market capitalization to reacha staggering$260 billion. Currently, the market cap stands at around $16 billion, making the forecast highly optimistic, to say the least.

Another crypto analyst who envisioned a bright future for Cardano’s token is Trend River. Heclaimedthat bears have tried their best to push the price down but eventually “will get tired,” which may result in a bull run.

Previous Predictions

The X user Ali Martinez is also among those who chipped in. Nearly a month ago, he suggested that ADA’s price was “exactly where it should be,” envisioning a surge towards $1.70.Recall thatback then, the asset was in a much better position, trading at over $0.55.

Earlier this year, the analystarguedthat ADA seemed ready to mirror its previous bull cycle, which could lead to a “parabolic” peak of $10.

Those curious to explore additional price forecasts, feel free to take a look at our dedicated video below: