Cardano’s price has already risen more than 1000 percent during the current bull run, eradicating steep setbacks. Furthermore, a significant portion of the circulating supply has been staked on the Cardano network. This fueled a slow but steady rally, which could pick up steam with the release of the Alonzo Hard Fork.
The ADA price is one such asset that recovered its mid-May losses in a relatively short period of time. As a result, we’re heading straight for the north. The price went perfectly parabolic to reach the ATH of more than $2.4. Furthermore, it appears to be unstoppable until new highs are reached. If the price continues on its current path, $5 may be unavoidable in the coming months.
The ADA price appears to be at a higher high right now, and from here, the price could consolidate for a while before exploding. Otherwise, if the pattern holds, a significant dip could stymie the rally, which could be followed by an accumulation phase. In contrast, if the bull run is fueled by the launch of smart contracts, the price may spike in the middle, forming a new pattern.
If the third scenario plays out, the ADA price could skyrocket to around $5 by the end of September 2021. Currently, the Cardano price appears to be poised to hit $3, with a price increase of 8.08 percent to $2.83. With the expected surge, Cardano could soon become a $100 million asset.