As Cardano (ADA) continues to dominate the development activity scene, the tenth-largest cryptocurrency based on market value might be gearing up for a major boost.

Taking on X, formerly Twitter, market analyst Javon Marks acknowledged that ADA was eyeing a breakout that would make the altcoin skyrocket to $2.77 in the long term.

Marks stated, “As ADA (Cardano) continues to hold breakout, sights remain on a massive bull run to come in, which can lead all the way up to $5+. From the holding breakout, these prices can be poised for an over 732% uphill run to first $2.7709 and based on the previous breakout and run higher can be possible.”

Source: Javon Marks

The analyst added that if the breakout occurs and Cardano surpasses 3 resistance walls, ADA would see a 1400-2,200% upside toward the $7.82 level.

Another chartist, who goes by the pseudonym Bitcoin ATM, shared similar sentiments that Cardano’s major upswing was on the horizon and could happen before next year.

Source: Bitcoin ATM

ADA was hovering around the $0.3427 zone at the time of writing, according to CoinGecko. 

Cardano’s Development Activity Shines

Cardano is among the leading cryptocurrencies in terms of development activity, according to Santiment data.

Source: Santiment

Coming third after Internet Computer (ICP) and Hedera (HBAR), ADA’s development activity is helping solidify the altcoin’s potential project growth and user adoption, with the Chang Upgrade being a stone’s throw away.

Set to go live this August; the Chang Upgrade is meant to spur Cardano’s decentralization quest thanks to the integration of CIP-1694 into the network’s governance mechanism.

With node reporting and blocks protocol at 70% and 60%, respectively, Cardano’s Chang hard fork is imminent.

Source: Cardano Dapp Analyst

This development and various bullish signs paint a positive ADA picture.