Cardano is expected to rally massively and reach $8.50 within the next two years.
This prediction is based on technical analysis and historical market patterns rather than mere speculation.
The upcoming Chang hard fork is expected to catalyse this price increase.
To sustain this upward momentum Cardano must overcome key resistance levels at $1 and $1.60.
Past price movements show that a break above the 99-day moving average (around $0.4) might be the key to this rally to $1.
After spending months trading underneath the $1 mark, Cardano may be gearing up for a massive breakout, according to recent insights from a prominent analyst.
After several long and painful weeks of decline, this analyst believes that Cardano might be ready to soar by a staggering 2,200% and reach a new all-time high by 2025
Let's examine the reasons for this rally and why it may or may not occur.
According to analyst Alan Santana, Cardano might be ready to jump to the upside and hit—not $1 or even $5—but approximately $8.50 within the next two years.
Santana says that this incoming surge isn't based on speculation but on actual technical analysis and market behaviour patterns from the last few years.
If this surge happens, Cardano will rally much ahead of its previous all-time high and even more than double from there.
Cardano’s outlook
Furthermore, Cardano's market cap would rally to a new all-time high of 305 billion USD, almost the same level as Ethereum's currently.
Reviewing the cryptocurrency's recent trajectory might help us understand why the analyst believes that Cardano can rally so hard.
For example, after reaching its peak of $3.1 in 2021, ADA crashed heavily towards the $0.22 price level by June 2023.
This crash, while devastating, presented a major opportunity for investors to buy in.
According to Santana, the cryptocurrency's crash within this phase laid the foundation for the upcoming breakout and is setting the stage for a new all-time high by 2025.
He also highlighted some of the strongest resistances, including $1 and $1.60, that Cardano must overcome to regain investor confidence and attract enough trading volume.
According to Santana, the Chang hard fork, scheduled for 27 August, is one of the major events that might fuel this upcoming upgrade.
Cardano’s roadmap
Chang is part of the fifth and final phase of the Cardano Roadmap, called the Voltaire era.
This phase aims to introduce governance to the Cardano ecosystem and is designed to empower millions of ADA holders by allowing them to make decisions about its future.
This upgrade is bound to attract more Cardano holders to the ecosystem, and successful implementation can greatly improve Cardano's network activity.
According to the charts, Cardano currently trades within a descending channel formation and is facing some resistance around the $0.38 - $0.4 range, as illustrated.
Cardano’s incoming breakout
This range also happens to coincide with the 99-day SMA, which has kept Cardano under since the cryptocurrency broke below on 2 April.
The 99-day EMA also sits at around the $0.4 price level and should present a massive buying opportunity if we see a break above.
The last break above this price level happened in October 2023, resulting in a 209% price.
Cardano’s historical performance
This means that if we see a confirmed break and close above $1, the cryptocurrency could be on its way to the $1 mark that Alan Santana envisioned.
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