On-chain crypto analyst Ali Martinez is predicting a parabolic bull run for Cardano (ADA), with a bold projection of a 4,000% surge in value.
Analyst Leans on Cardano’s Historical Patterns
Ali’s bold forecast for the digital asset is based on historical trends and parallels observed between current market movements and past events which seems to indicate a potentially lucrative opportunity for investors willing to buy the dip.
🧵 #Cardano seems ready for a parabolic bull run! Observing historical trends, the 50% price drop $ADA faced in the past month could be a golden opportunity.
Let's unpack the details and see why now might be the right time to buy the #ADA dip!
— Ali (@ali_charts) May 3, 2024
Cardano, one of the top blockchain platforms, has in the past month experienced a massive dip of 50% sparking concerns among investors. However, Ali argues that this correction could be a golden opportunity for bold investors. He maintains that recent patterns with Cardano are reminiscent of similar trends in the past that led to explosive gains.
The analyst’s optimism is based on the belief that history does not repeat itself, but it often rhymes.
So drawing comparison with Cardano’s performance in 2019, Ali noted that the digital asset went through a consolidation phase within a parallel channel, signaling the end of the bear market.
The Case for Cardano Bull Run
Following the consolidation phase of 2019, Cardano witnessed a 75% surge, which then led to a 56% price correction. Despite this correction, Cardano embarked on an impressive 4,095% bull run, creating substantial returns for investors who held on and were able to weather the initial turbulence.
Ali identifies similar patterns in 2023 as Cardano experienced a parallel channel consolidation, indicating the potential conclusion of a bear market. After this consolidation, ADA surged by 72%, only to experience a 50% price correction.
The on-chain analyst projects that if history is any indication of things to come, the current correction could set the stage for a parabolic bull run, leading to significant gains for investors who buy the dip. He views this as an opportunity to buy ADA at a discount before the anticipated surge.
Meanwhile, despite the price correction, massive whale activities were noticed recently that even surpassed that of Bitcoin. In the interim, according to CoinMarketCap data, ADA is up by 2.44% and trading at $0.4636.
