Cardano token is predicted to grow by 1400%

Cryptocurrency experts note that for the first time in the last week, Cardano bulls ADA $0.88 Cardano -1.41% Market capitalization $31.63 billion VOL. 24 hours $0.22 billion have returned to the crypto market. Nevertheless, at the time of writing, the virtual coin is down 4.2% and is trading at $ 0.47. The total amount of coins circulating on the market is $ 16.8 billion. Traders made daily trading deals worth $ 445.2 million.

«Against the backdrop of weak market indicators, the fate of ADA is now hanging in the balance, and its historical trends are the catalyst for growth,» experts say.

According to trader Ali Martinez, on the three-day chart, the token is currently in a consolidation period. It turns out that the current consolidation phase of ADA is very similar to the one observed in 2020 before its more than 2900% growth — from a critical low of $ 0.10 to a high of about $ 3.09.

Martinez suggests that a repetition of the market structure could lead to a resumption of ADA’s bullish uptrend in April of this year. Continued positive dynamics could lead to a rapid increase in the ADA price to $ 0.8 per coin. However, the expert expects a short-term pullback to $ 0.60 before a rally to the coveted $ 7 mark.

Currently, ADA enthusiasts are expecting the cryptocurrency to grow significantly. According to their assumptions, ADA should jump by 1,400% at current price levels to reach Martinez’s projected goal of $ 7. Crypto experts are hopeful that such goals are achievable for the coin.