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Speaking on X (formerly Twitter), market analyst Javon Marks acknowledged that ADA is aiming for a breakout that would take the altcoin to $2.77 in the long term.
Marks explained: “As ADA (Cardano) continues to hold the breakout, a massive bull run remains in sight that can lead to above $5. From the breakout, these prices can be ready for an increase of over 732% to $2.7709 initially, and based on the previous breakout, a move higher is possible.”
The analyst added that if a breakout occurs and Cardano breaks through three resistance walls, ADA would see an upside of 1,400-2,200% towards the $7.82 mark.
Another Chartistwho goes by the pseudonym Bitcoin ATM, shared the same view that Cardano’s big upswing is imminent and could happen before next year.
 
According to CoinGecko, ADA was fluctuating around the $0.3427 zone at the time of writing.
Cardano’s development activity shines
According to Santiment data, Cardano is one of the leading cryptocurrencies in terms of development activity.
ADA is ranked third after Internet Computer (ICP) and Hedera (HBAR), and its development activity is helping to solidify the altcoin’s potential project growth and user adoption, and the Chang upgrade is just a stone’s throw away.
The Chang upgrade is scheduled to go live this August and will advance Cardano’s pursuit of decentralization thanks to the integration of CIP-1694 into the network’s governance mechanism.
With node reports and block logs at 70% and 60% respectively, Cardano’s Chang hard fork is imminent.
This development and various bullish signs paint a positive picture for ADA.
