Cardano (ADA) Price Set for $2.7? Cardano’s 732% Breakout Looms Large Amid Heightened Development Activity

• Analysts suggest that Cardano (ADA) is poised for a significant price rally, potentially reaching up to $2.70 in the near term and surpassing $7.82 in the long run.
• Cardano is leading in blockchain development activity and is preparing for the Chang hardfork. 72% of Stake Pool Operators have installed the necessary software.

The Cardano blockchain network continues to dominate blockchain activity among other market players, which leads analysts to believe that this could set the stage for the next major Cardano price rally, reported CNF.

In his recent post on the X platform, market analyst Javon Marks noted that the Cardano (ADA) price is gearing up for a major breakout, which could set the stage for a rally to $2.7 in the long term. Marks remarks:

As ADA (Cardano) continues to hold breakout, sights remain on a massive bull run to come in, which can lead all the way up to $5+. From the holding breakout, these prices can be poised for an over 732% uphill run to first $2.7709 and based on the previous breakout and run higher can be possible,

The analyst noted that if the breakout happens and the Cardano price surges past three resistance walls, it can further see an upside of 1400-2,200% to $7.82 levels, per the CNF report. Amid the broader market volatility, the ADA price has come under severe selling pressure, dropping under $0.30 last week. As of press time, ADA is trading 1.49% down at $0.3429 with a market cap of $12.322 billion. It is already trading at a 15% discount on the weekly chart.