Analyst Predicts Cardano Price Could Soar to $2.90 as Classic ADA Chart Pattern Repeats

During the ongoing market recovery, the ADA price actually didn’t have any massive pumps. While some altcoins exploded with double-digit gains in a day, Cardano moved more slowly. Still, it managed to climb around 27% in the last 30 days and is now trading near $0.80.Now, analyst Javon Marks has updated his outlook for ADA. According to him, the price might not just rise steadily. It could be on the edge of another major breakout, and if history repeats, the next target is far above current levels.Javon shared a chart that shows a repeating pattern in ADA’s price action. Every time Cardano forms a falling wedge pattern, it breaks out sharply. This happened twice before; once in mid-2023 and again in late 2023. Both times, the breakout led to strong rallies.He points out that ADA is now forming the same type of wedge again. The ADA price is already starting to push upward, which could mean the breakout is underway. On his chart, he marks the next target between $2.70 and $2.90. That’s over 240 percent above the current price.Source: X/@JavonTM1The visual he shared shows three clear wedge patterns followed by strong upside moves. The third wedge is now breaking out just like the others. The pattern suggests a possible repeat of previous rallies. It’s not just technical traders who are noticing this. The post has gotten a lot of attention from ADA holders who are looking for signs that a bigger move is coming.Volume spikes from previous breakouts support the idea. When Cardano broke out before, volume rose fast and pushed the price even higher. If that happens again, this could be more than just a small bounce.Of course, nothing is guaranteed in crypto. But the chart setup is one that many traders take seriously. Falling wedges often lead to bullish reversals, especially when they form over longer timeframes.So far, ADA has been one of the quieter coins this cycle. But if Javon’s prediction plays out, that might change soon. A move toward $2.90 would bring Cardano back near its all-time highs and turn a lot of heads in the market.The next few weeks could be important for confirming this breakout. ADA is already moving in the right direction. Now it’s up to the buyers to keep pushing.Read also: The $700 Million ADA Mystery: Did Cardano Quietly Seize ICO Funds?Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Read our recent crypto market updates, news, and technical analysis here. We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. The post Analyst Predicts Cardano Price Could Soar to $2.90 as Classic ADA Chart Pattern Repeats appeared first on CaptainAltcoin.