Cardano (ADA) is one of several cryptocurrencies that have fallen dramatically in the past month, with investors losing hope in the altcoin. Down 26% in June, ADA investors are hoping that July could see a rebound, but the odds are slim. However, according to one analyst, ADA is brewing something massive behind the curtains, a possible 666% surge to hit a new high very soon and give ADA hope.

ADA has fallen 3% in the weekly charts, 19.6% in the 14-day charts, and 24.7% over the previous month. However, it remains up 40% since June 2024. The lackluster performance over the last few years could be due to the lack of development on the ADA blockchain. The poor performance could also be attributed to a general bearishness that looms over the crypto market.

What is Keeping ADA Back, and Could It Rebound Eventually?

Recent data from Santiment reveals LINK’s weekly Market Value to Realized Value (MVRV) ratio turning negative to -12.27%. Typically, the ratio helps analyse the average profit or loss of investors. A negative ratio implies that if all ADA tokens were sold, an average investor would be at a loss of roughly 12%. This further fuels the bearish sentiment around ADA. Fortunately, LINK remains above $0.50, a keep support level that could keep the asset afloat in July.

Fortunately, one crypto analyst has suggested that a monumental surge could be incoming, reversing all of ADA’s losses in 2025 thus far. Indeed, analyst Javon Marks predicts an ADA rally in the future, adding how the token is on a path to surge 666% soon. The analyst credits the potential surge to the Cardano Network launching its highly anticipated project called Midnight. Dubbed as a data protection-based sidechain for Cardano. It was launched to enable secure, effortless, and cost-efficient smart contract execution on Cardano.

Also Read: Why Is Cardano (ADA) Trump’s Pick for America’s Crypto Reserve

In a recent analysis, Marks stated that, using Cardano’s earlier bull cycle as a reference, ADA prices are in the process of settling in. Marks noted how a move above its 1.272 Fibonacci levels could be indicative of a massive price breakthrough around $5. “Using $ADA (Cardano)’s previous bull cycle as a guide for this one, prices could be setting up for another move to and above its 1.272 Fibonacci Level, which is currently at the ~$5.35 price point! This means that a nearly +666% upside from here can be possible.”