Cardano, Explosive Rise Predicted Next Monday..."Up to 2,479% Increase"

▲ Cardano (ADA)/AI Generated Image

Cardano (ADA) is breaking its long silence and preparing for an unprecedented surge. Next Monday is expected to be the starting point.

According to crypto media outlet The Crypto Basic on April 23 (local time), Cardano has reached a critical turning point. It's the confluence of a downtrend line and a multi-year support line. Market analyst Celal Kucuker predicts a strong breakout next Monday.

Cardano has lagged behind the uptrends of Bitcoin (BTC) and Ethereum (ETH). Its price dropped by 5% over the past 30 days, causing investors to turn away. However, the current technical structure provides a perfect springboard for an explosive rebound. Signs of an end to months of pressure have been detected.

The analyst set a primary target price of $1.18, which is approximately 377% higher than the current price. The ultimate destination is $6.37, surpassing its previous all-time high. This represents a staggering 2,479% growth from the current level. The analysis that the mid-to-long-term chart flow is very ideal is gaining traction.

On-chain data is also positive. In the last 24 hours, more funds exited exchanges than entered. This is evidence that investors are choosing long-term holding instead of selling. Whales are moving Cardano to personal wallets, locking up supply.

Volume recovery remains a challenge. Recent trading volume and open interest have slightly decreased, indicating lower market interest. Monday's breakout is expected to be a catalyst to awaken dormant buying energy. Cardano is preparing for a leap towards setting a new historical all-time high.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*