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After months of consolidating below the $1 mark, Cardano ($ADA ) is showing signs of a significant upside, according to cryptocurrency analyst Alan Santana. Following a period of short-term positive growth, Santana projects that Cardano could experience an extraordinary 2,222% rise, potentially reaching new all-time highs by 2025.

In his August 21st TradingView post, Santana detailed Cardano's journey since its 2021 peak. The prolonged bear market led to a substantial price drop, but ADA has since entered a consolidation phase throughout 2023, hovering within a tight range. This period of stability, Santana argues, has laid the groundwork for a potential explosive breakout.

Santana views the current “minor correction” within Cardano’s price as a healthy retracement, rather than a sign of weakness. He suggests that this correction is part of a larger bullish framework, positioning the market for what he calls an “initial bullish breakout.” According to Santana, this breakout is merely an “appetizer” ahead of a primary bull market that could drive ADA to unprecedented levels.

1ïžâƒŁWhat Could a 2,222% Rally Mean for Cardano?

If Cardano does achieve a 2,222% rise, its price could soar to around $8.50, far surpassing its previous all-time high. Santana highlights key resistance levels at $1 and $1.60, where traders might consider taking partial profits or reevaluating their positions.

Should ADA reach the $8.50 mark, its market cap could approach $300 billion, potentially placing it near Ethereum (ETH) in terms of market capitalization—assuming ETH remains relatively stable. However, despite recent gains, ADA is still struggling to break into the top ten cryptocurrencies by market cap.

Cardano faces challenges from emerging Layer 2 solutions like Arbitrum and Optimism (OP), which offer faster and cheaper transactions. As developers and users increasingly migrate to platforms prioritizing speed and cost-efficiency, Cardano’s ability to compete will depend heavily on its ongoing network developments.

2ïžâƒŁKey Developments and Future Prospects

Cardano’s recent bullish momentum follows the announcement of the upcoming Chang Hardfork upgrade, set for August 27th, with a final decision expected by August 23rd. This upgrade aims to introduce a “liquid democracy with a constitutional republic,” allowing millions of ADA holders to access Cardano’s treasury for the benefit of all stakeholders.

As of now, ADA is trading at $0.36, reflecting a nearly 5% daily increase and a 10% rise over the past week. For Cardano to sustain this momentum, it needs to reclaim the $0.40 resistance level, with a longer-term target of around $0.50.

In conclusion, Cardano’s future looks promising, but its ability to capitalize on this potential will depend on both market conditions and the successful implementation of its network upgrades. If Santana’s projections hold true, $ADA ould be on the brink of a major breakout that would significantly reshape its position in the crypto market.

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