In recent times, Cardano has been the subject of numerous optimistic forecasts, particularly in relation to the highly anticipated Chang upgrade. The upgrade represents a significant milestone for the network and has generated a wave of positivity among its proponents. An interesting bullish prediction comes from crypto analyst Alan Santana, who envisions a substantial surge in the altcoin’s price, propelling it to new all-time highs.
Over the past three years, the Cardano price has experienced alternating periods of bullish and bearish cycles. Unfortunately, the bears seem to have gained the upper hand following the altcoin’s peak price of $3.10 in 2021, with subsequent downward trends dominating the market sentiment. Despite this seemingly bleak outlook, Alan Santana emphasizes a bullish perspective in his analysis.
According to Santana, the Cardano price exhibited a bearish trend after reaching a new all-time high in 2023. This was followed by a consolidation phase that persisted from the beginning to the end of that year. Subsequently, the ADA price began to show signs of upward momentum at the start of 2024, surging from as low as $0.24 to as high as $0.79. Santana characterizes this phase as the “initial bullish breakout,” which he views as a precursor to a more significant bull market to follow.
Outlook for Cardano Price Movement
The subsequent decline from the local peak of $0.79 has sparked concerns among Cardano investors, as the altcoin’s value has depreciated by approximately 50% since then. However, Santana dismisses this as a “minor correction” that is unlikely to impede the upcoming bullish cycle. He anticipates the Cardano price to reach a bottom around $0.22 before rebounding and rallying further.
Looking ahead, Santana has outlined short-term price targets, including a 284.5% surge to $1.36 and a 475.39% increase to $2. Moreover, in the long term, the crypto analyst envisions even more explosive rallies for the ADA price. Particularly noteworthy are two projections: a 1,272.18% surge to a new all-time high of $4.80 and a remarkable 2,200% increase that would elevate the price to $8.
The Cardano community is buzzing with optimism as bullish predictions abound regarding the altcoin’s price surge. Despite recent setbacks and corrections, analysts like Alan Santana foresee a bright future for Cardano, with significant price appreciation on the horizon. If these projections materialize, investors stand to benefit from substantial gains and potential new all-time highs for the ADA price. The upcoming Chang upgrade and ongoing developments within the Cardano ecosystem will undoubtedly play a crucial role in shaping the future price trajectory of the altcoin.