18 September 2024
Cardano (ADA) is finally at stage three of this current market cycle, with analysts foreseeing a massive 4,500% price rally to $15. This projected price increase is set to offer dedicated investors and holders a small window of opportunity to make gains from the popular altcoin.
Cardano (ADA) Set Sights On $15 Price Surge
Crypto analyst, Remi Benays has announced on X (formerly Twitter) that Cardano is at a crucial stage of this market cycle, characterized by potential price rallies to new all-time highs around $15. Sharing a historical price chart of Cardano, Benays highlighted a unique recurring bullish pattern in the cryptocurrency’s movements from 2018 till date.
The analyst noted that from 2018 to 2021, Cardano experienced a period of severe price decline, followed by a period of consolidation, a fake bounce and ultimately a dramatic price surge.
To be more precise, the cryptocurrency crashed by 98% between 2018 and 2019, then experienced a ghost chain fake bounce around 2020 and early 2021, and then exploded with an astonishing 18,000% gain after the Bitcoin halving event in 2020.
Benays has identified a similar trend from 2021 to 2024. The analyst disclosed in his chart that ADA was down by a whopping 92% in 2023, before experiencing a double fake bounce around April 2024.
Considering Bitcoin concluded its halving event on April 20 this year, the analyst foresees a mega pump to $15 for ADA by 2025. This substantial price increase would push ADA’s market capitalization to $500 billion from its current value of $11.9 billion. Moreover, it would represent a massive price rally of over 4,500% for the altcoin.
While some may consider Benays $15 ADA forecast as overly ambitious, the analyst has envisioned an even more bullish scenario. He expects ADA to continue rising from his initial target of $15 to $31 by 2026. A rally to this substantial price level would place Cardano’s market capitalization at $1 trillion, exceeding the combined valuations of Solana (SOL) and Ethereum (ETH).
Analyst Offers More Conservative XRP Price Forecast
Taking a more conservative approach, crypto analyst Sssebi has predicted a 20X to 30X rally for Cardano in the next 12 months. The analyst disclosed that Cardano is “exactly where it was last cycle around this time,” suggesting that the cryptocurrency is well-positioned for a significant rally.
He projected that Cardano could potentially reach a minimum price level of $5 by 2025 and a maximum value of $10 at the top of the bull market. Currently, the price of ADA is trading at $0.33, reflecting a 2.58% decrease over the past week. A jump to $5 or even $10 would require the cryptocurrency to rally by approximately 1,415% and 2,930%, respectively.