Cardano could soar to $1400

Renowned cryptanalyst Ali Martinez shared his highly optimistic view of the future price of Cardano. His analysis of ADA is based on the token's previous trends in past bull cycles.

Martinez stated in his post that if history repeats itself, Cardano could repeat the history of 2020. According to his analysis, he predicts that ADA will be in a consolidation phase until the beginning of the second quarter of 2024.

Martinez suggests that the current period of consolidation will only serve as an impetus for Cardano's next takeoff. A similar period of calm for the altcoin was seen in November 2020, before its price rose above $3, reaching its current record.

According to the presented chart, the price of ADA is likely to reach a new all-time high after the April consolidation phase in 2024. Martinez set a target for the cryptocurrency around $8, which represents an increase of about 1,400% from the current point.