Cardano has garnered bullish forecasts recently, particularly linked to the anticipated Chang upgrade. This upgrade has sparked optimism among supporters. Alan Santana, a crypto analyst, predicts a remarkable price rally, potentially sending Cardano to new all-time highs.
Over the last three years, Cardano has experienced both bullish and bearish cycles, with a predominant downward trend post its $3.10 peak in 2021. Despite this, Santana argues that the consolidation phase from early 2023 to late 2023 sets the stage for a significant price increase starting 2024.
Santana describes the initial bullish breakout phase as a preview for a major bull market. Even though Cardano lost about 50% of its value after reaching $0.79, Santana sees this decline as a minor correction within the anticipated bull cycle.
The analyst predicts the Cardano price will bottom at around $0.22, followed by a bounce leading to short-term targets of $1.36 and $2, respectively, representing increases of 284.5% and 475.39%. In the long term, he forecasts explosive rallies with a 1,272.18% increase to $4.8 and a 2,200% rise, bringing the price to $8.
