Cardano Traces Past Pattern, Analyst Sees 1,490% Upside
Crypto analyst Javon Marks believes that Cardano (ADA) is following a similar market structure to the period just before the 2020-2021 bull market. According to DeCrypt, ADA's recent price moves show a noticeably similar sequence to the earlier cycle used for comparison.
In the previous cycle, Cardano peaked at $1.32 in 2018 and then plunged. It later moved sideways for an extended period around $0.02, forming an accumulation phase. After breaking out of the long trading range, it shifted into a strong uptrend and rose to an all-time high of $3.10 in September 2021.
Marks said that ADA has now reached the lower part of a multi-year trend line, matching the point where a breakout came after the earlier accumulation phase ended. He set a target of $2.90, which implies about 1,490 percent upside based on the current price of $0.1823.
He also gave a timeline, stating that if ADA continues to mirror the past market cycle, the upward move could play out through early 2028. This is closer to a long-term recovery scenario than a short-term surge.