Jure Karamarko, founder of Cardano-based token SongMarketCap, believes $ADA will eventually reclaim the $3 level.
In a recent tweet, Karamarko said the possibility of Cardano surpassing $3 is a question of when, not if, highlighting his strongly bullish outlook for the coin. In his view, Cardano has the potential to reclaim and eventually exceed the key price level.
Cardano Rebounds as Crypto Market Recovers
Karamarko’s comment comes as Cardano attempts to recover from a prolonged period of weakness and return to levels last seen during the 2021 crypto bull market. Yesterday, $ADA surged more than 10% and briefly moved above $0.19 as momentum returned to the broader crypto market.
Meanwhile, the wider market also staged a sharp recovery, with total crypto market capitalization rising 8.7% to $2.37 trillion. Bitcoin reclaimed $70,000 before pulling back slightly, while Ethereum moved above $2,000 and traded around $2,252.
Consequently, Cardano’s rally did not occur in isolation. The broader market recovery provided additional momentum for $ADA and encouraged investors to reconsider the possibility of a much larger rebound.
$ADA Faces a 1,530% Rally to Reach $3.10
Notably, the $3 level is not new territory for Cardano. $ADA reached an all-time high of $3.10 in September 2021 during the previous crypto bull market. However, the token now trades far below that peak, at $0.1840. From this level, $ADA would need to rally roughly 1,530% to reclaim its previous all-time high.
Karamarko is not alone in identifying $3 as a potential target for Cardano. Technical analysts and long-term forecasts have also pointed to the possibility.
For instance, TradingView analyst OceanStaker previously identified a Power of Three (PO3) pattern that could potentially support a move toward $3. Similarly, Telegaon has projected that $ADA could cross $3 and potentially reach $3.24 by 2028.
What Could Drive Cardano Toward $3?
Several factors could support a sustained Cardano recovery. First, another broad crypto bull market could increase demand for $ADA. Historically, the token has benefited from stronger market-wide risk appetite and increased capital flows into altcoins.
Additionally, Cardano founder Charles Hoskinson has maintained his confidence in $ADA’s long-term potential. While discussing $ADA’s previous performance, Hoskinson recalled how $ADA climbed from $0.025 to $3.10 in 2021.
Furthermore, Hoskinson has suggested that the crypto industry could enter another major bull market driven by a new market narrative. If that scenario materializes, $ADA could benefit from renewed investor interest and stronger market momentum. Moreover, Cardano is strengthening its DeFi ecosystem and attracting more users through initiatives such as RealFi and the AlphaGrowth PRIME proposal.
Although Karamarko considers $3 “a matter of when rather than if,” investors should treat long-term crypto forecasts cautiously because market conditions, regulation, adoption and sentiment can change significantly.