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Shocking Cardano (ADA) Price Prediction: Breakout Hints at 261% Surge to $2.90
Cardano, the seventh-largest cryptocurrency by market capitalization, has broken out of a falling wedge pattern, prompting a shocking price prediction from an analyst. According to Javon Marks, this technical breakout could be the beginning of a significant surge, potentially resulting in a gain of over 261% if the cryptocurrency reaches its long-term target of $2.90.
The prediction is based on historical analysis of similar cycles seen by ADA in the past. Marks notes that each time the same pattern appeared, it was followed by a strong upward move. If this pattern repeats itself, we could see a substantial increase in price. This would result in an astonishing 261% surge from current levels to $2.90.
Recent Market Movement
Cardano’s recent price action has seen the cryptocurrency moving higher after breaking out of the falling wedge pattern. The move saw ADA gain 8% over the past day and over 10% during the previous week, reaching a value of around $0.80.
It is essential to note that this breakout remains valid as long as the price stays above the previous resistance levels.
Source: cryptopotato.com
