Cardano Price Prediction: Why Experts Believe ADA Could Hit $5 Soon

Juhi Mirza
Cardano ADA
Source: Capital.com

Cardano is another notable cryptocurrency token that is fighting aggressively to top the market radar. ADA is now on track to score major highs, possibly as its ecosystem is now harboring new changes, bringing in novel ADA system changes in the meantime. Can Cardano still deliver noteworthy gains soon? Let’s find out.

Also Read: Cardano Price Prediction: Can ADA Hit $1 Post Rate Cut?

Cardano Ecosystem: What’s The Future?

Cardano Chain has arrived in your DeFi Wallet
Cardano Chain arrived in DeFi Wallet – Source: X

According to a notable price analyst, Javon Marks, the ADA price chart is inching towards $2, as its price formation has now started to predict a new surge in the process.

“Based on $ADA (Cardano)’s trend of its previous breakouts, we are looking at another roughly +40% to +57% move to the $1.20+ levels coming in, at minimum! In a larger perspective, that could be the start of a continuation towards our larger breakout target at ~$2.91.”

At the same time, Charles Hoskinson, the founder of Cardano, later shared how the market is on the precipice of a gigachad bull run. This development can add more fuel to ADA, helping it attract new momentum and traction.

“JUST IN: #Cardano $ADA Founder Charles Hoskinson says the Fed is going to cut interest rates, “and then we’re going to get the CLARITY Act, and then we’re going to have the gigachad bull run.”

Moreover, the market sentiment is bullish towards ADA, with its chart predicting a major bull run ahead.

JUST IN: Crypto Banter’s Sheldon says, “#Cardano has tons of support; it’s in a (bullish) flag; we’re getting close to the end of the flag. We’re getting ready for the dollars. $ADA is still one of the most bullish ones.”

Prospects of the Token Hitting $5

Sheldon, another crypto analyst, shared how Cardano can top the market cycle by hitting $5.

“JUST IN: Crypto Banter’s Sheldon says “I think #Cardano $ADA can break its all-time high this cycle. We could see $5.00 or higher.”

The cryptocurrency market is awaiting approval of the majority of altcoin ETFs, including Cardano, which can help increase the capital inflow, helping distribute capital in equal ways.

Also Read: Cardano ADA to $3? How September Rate Cut Could Trigger Surge