According to a tweet by trader Javon Marks, Cardano (ADA) could be on the verge of a massive surge, potentially reaching a staggering 15x increase from its current price.
ADA’s Impressive Breakout and Potential Upside
Marks emphasizes that ADA has made notable progress since breaking through a key resistance trend. Since then, Cardano has achieved approximately 222% of its first target of $2.7709. Despite the recent pullback, the trader suggests that this could be a sign of ADA strengthening its position for even further growth.
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If the breakout holds, Marks predicts that ADA could see another 462% upside, reaching the target of $2.7709. However, the trader believes that the momentum of the previous breakout could set ADA for much higher levels, potentially reaching $7.80. This would represent an astonishing 1,500% increase from the current price.
Recent Price Performance
At press time, ADA is trading at $0.433, having experienced a 3.4% decrease in the last 24 hours and a 7.5% decline over the past 30 days. ADA is also down by 3.7% in the last seven days. However, Cardano has also spiked by a modest 17.7% in the last year.
While these short-term fluctuations may concern some investors, the overall trend and potential for growth, as outlined by Javon Marks, paint a promising picture for Cardano’s future.
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Several factors contribute to Cardano’s potential for significant price appreciation. The platform has been consistently delivering on its development roadmap, with notable upgrades.
While Javon Marks’ prediction of a potential 15x increase for ADA is undoubtedly exciting for investors, it is essential to approach such forecasts with caution.
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