Jason Pizzino Predicts Cardano Rally to $11 Within This Bull Cycle

According to Jason Pizzino, a prominent cryptocurrency trader and analyst, Cardano (ADA) could climb up to $11 within this bull cycle.

In a recent video, Pizzino shares with his 205K YouTube subscribers that he does not believe Cardano (ADA) is done yet and will make a big jump before this bull run is over.

Using Elliott Wave theory, which forecasts future price action by looking at crowd psychology that tends to manifest in waves, the analyst is build his target price for ADA.

According to the theory a bull market follows a five-wave cycle where an asset ascends during waves one, three and five, and corrects during waves two and four.

The trader sees that Cardano has already gone through waves from one to four and is now in the fifth and final wave.

“I’m excited to see the waves play out similarly. So this wave is the biggest (surge from $0.10 to $2.47). If you’re looking at Elliott, then wave three is always the biggest wave. Wave one (rally from $0.01 to $0.17) and wave five (current leg) are generally equal, doesn’t have to be but that’s what we can possibly see. To give us some numbers, we’re just going to speculate with some pricing. 

This is wave two (pullback from $0.15 to $0.08)… And that’s wave four (correction from $2.47 to $1.00).”

The predict how high Cardano’s fifth wave will go, Pizzino uses a measure of strength ADA’s first wave where it rallied around 900% between April 2020 and July 2020.

“What do we get when we if we do an 800% or 900% from the low that was put in in June and July… That would bring us to around our $8 mark… Maybe we hit a 1,000% return from that point. That’s going to bring us up to $10 or $11. So keep that in mind if you’re getting in late or thinking about dollar-cost averaging in from this point. All good runs will come to an end.”

At Cardano’s current value of $2.64, Pizzino’s maximum target of $11 represents a 316% growth.