Cardano (ADA) Poised for Massive Surge? Analyst Targets $15 in Potential Parabolic Rally
In a striking turn of events, Cardano (ADA) appears to be following a pattern reminiscent of its monumental 2020-2021 bull run, when the price exploded by over 2,600%. While the broader cryptocurrency market has seen a notable downturn in recent weeks, one veteran analyst now contends that ADA could be gearing up for a similarly parabolic rally—possibly propelling its value toward $15.
Cardano’s Potential Parabolic Rally
Recent social media posts have shone a spotlight on ADA’s weekly chart, revealing a pattern that mirrors the 2020 price movements, albeit at a slower pace. Between 2020 and 2021, the asset’s price rocketed from $0.12 to $3, marking a jaw-dropping 2,600% surge. According to the analyst, if Cardano successfully imitates this historic pattern, it could climb by another 1,960%, potentially hitting $15.70 in the future.
Such an extraordinary climb isn’t out of the question, given the political support for digital assets, rising cryptocurrency adoption, expanding strategic reserves, and the launch of various crypto ETFs. All these factors could unite to catapult the crypto market—and ADA—to previously uncharted heights.
Current Price Momentum
Despite the optimism surrounding Cardano, its price has been relatively subdued. As of this writing, ADA is hovering near $0.79, having notched a modest 1.50% gain over the past 24 hours. However, trading volume has dipped by 30%, suggesting diminished participation from traders and investors compared to the previous day.
Still, the general market sentiment remains bullish as other major cryptocurrencies continue to rebound. ADA’s more tepid progress likely stems from a resistance zone it has battled for the last three weeks.
ADA Price Action and Outlook
According to technical experts, Cardano is struggling to break the critical resistance level at $0.85. Should ADA close a daily candle above this barrier, it could potentially rally by 35% and reach $1.14 once the market regains a more positive outlook.
On the daily time frame, ADA has maintained a stance above the 200-day Exponential Moving Average (EMA), indicating an overall uptrend. This bullish alignment suggests that Cardano remains well-positioned to capitalize on the ongoing market recovery—with a renewed surge well within the realm of possibility.
As anticipation mounts for a parabolic rally, investors and traders alike will be watching Cardano (ADA) closely to see if it can truly replicate its explosive past performance and reach that bold $15 price target.
