Cardano could skyrocket to $7 if this scenario plays out
According to famous cryptocurrency analyst Ali Martinez, ADA could reach $7 by 2024-2025 if it continues to grow.
The DeFi ecosystem of Cardano (ADA) is finally going strong in 2023 after years of promises and waiting.
This growth has boosted demand for the native ADA token and bolstered investor confidence.
Most of Cardano's activity in the past has been primarily speculative in futures transactions, which has started to happen recently.
The speculative nature of the former has generated a massive price increase to $3 in 2021.
According to renowned analyst Ali Martinez, ADA increased nearly 3,000% from its initial breakout in 2020 to its historic peak.
Furthermore, Martinez sees the possibility of a repeat of this scenario as Cardano threatens to break the new resistance mark.
If the above scenario plays out, ADA could reach $7 by 2024-2025.
Currently, Cardano is trading at $0.51 within a 664-day breakout period, similar to 2020's 667-day pattern.
Notably, on the X post, Ali Martinez predicted there will be a price increase reaching the level of $0.8, which will then decrease to $0.6 before continuing to increase.
