In spite of the recent decline in the market, various sources have predicted potential timelines for a Cardano rally with ambitious targets of $7.5, $27, and $45.
Following the ongoing market downturn, Cardano (ADA) has experienced a daily loss of 2.6%. It reached a peak of nearly $0.8 in early March and is currently trading at $0.4382.
This indicates that the price of Cardano has dropped by 45.22% in the past two months. Similarly, Cardano has also fallen by 27.75% on the monthly chart.
Experts remain confident in Cardano’s ability to recover despite the downturn in the market. Consequently, these analysts have provided potential timelines for the coin to reach astonishing targets of $7.5, $27, and $45.
Potential Timelines for Cardano’s Surge to $7.5
At the time of writing, Cardano is being traded at $0.4382. To reach $7.5, ADA would need to increase by 1,611% from its current price.
While this may seem like a challenging task, prominent analyst Jake Gagain believes that Cardano can achieve this feat. Interestingly, Gagain speculates that Cardano could reach the $7.5 target by 2025.
According to Gagain, next year will mark the peak of the current bull run season, during which the prices of various cryptocurrencies are expected to skyrocket. Gagain predicts that Cardano will not be left behind in this bull run and expects the asset to reach $7.5 by then.
When Will Cardano Reach $27?
According to an analysis by The Crypto Basic, Cardano’s price could soar to $27 during this bull run season. This scenario is based on Cardano replicating its performance after the halving in 2020.
Notably, Cardano, which was priced at around $0.05 during the 2020 halving, surged to an all-time high of $3.10 in 2021, representing a massive increase of 6,100%. If Cardano replicates this performance in the current season, The Crypto Basic projects that its price, which was around $0.44 at the time, could rise to $27.
Potential Timeline for Cardano’s Rally to $45
Furthermore, two popular prediction platforms, Telegaon and Changelly, anticipate that Cardano will surpass the $7.5 and $27 price levels and aim for $45. For Cardano to reach $45, the asset would need to rally by 10,169% from its current price.
Although it may seem difficult for Cardano to reach the $45 target, Telegaon and Changelly predict that the asset will achieve this level by 2030 and 2033, respectively.
Cardano would require more than just a bullish market to reach the $7.5, $27, and $45 targets. Interestingly, the development team behind the Cardano ecosystem is constantly releasing significant upgrades that could pave the way for an imminent rally towards these targets.
For example, the team is preparing to launch the highly anticipated Chang hard fork this quarter. This upgrade will enhance Cardano’s decentralization and self-sustainability, giving ADA holders the power to influence the ecosystem.
As the crypto market gears up for its bullish phase, Cardano enthusiasts eagerly await the future of their favorite cryptocurrency.
Disclaimer: This article provides informational content and should not be considered as financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses incurred.
