Crypto analyst Lark Davis shared his insights on Cardano’s current market position and future potential. Davis, who commands an audience of over 600,000 subscribers on YouTube, presented a bullish outlook for ADA despite its recent gains.
The crypto analyst emphasized that while Cardano has witnessed an impressive 260% rally, the market still shows considerable room for growth. Drawing from his personal trading experience, Davis recalled his previous successful venture with ADA during the last cycle, where he achieved approximately 50x returns.
Cardano Price Prediction: Possible Peak at $10
According to Davis’s technical analysis, ADA is currently emerging from a major accumulation zone, suggesting this breakout phase is just beginning. He identifies several key resistance levels that could define Cardano’s upward trajectory: $1.20 as the immediate target, followed by $1.60.
Looking further ahead, the analyst projects ambitious Fibonacci targets of $4.80, $7.70, and potentially $10 within this cycle.
The analyst notes that despite the current rally, ADA price remains below its previous all-time high, indicating a potential 200% upside just to reclaim these levels. Davis emphasizes that the current market phase is primarily driven by attention and hype rather than fundamentals, with Cardano successfully capturing both elements.
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Looking ahead to 2025, Davis points to the possibility of Cardano joining the spot ETF race, which could serve as another catalyst for growth. He calculates that at $10, Cardano would command a market capitalization of approximately $370 billion, representing about 4% market dominance at the cycle’s peak.
The crypto analyst maintains that despite the significant gains already recorded, the current market dynamics and breaking technical patterns suggest it’s not too late for investors to consider entering Cardano positions, though he emphasizes the importance of understanding the associated risks and market volatility.
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