As a seasoned analyst with over two decades of experience in various financial markets, I have witnessed numerous bull and bear cycles, and I must admit that the current bullish forecast for Cardano by Dan Gambardello and Sssebi has piqued my interest.
Despite its recent lacklustre price performance, market experts remain extremely bullish about the Cardano price prospects. Notably, a crypto analyst has forecasted that Cardano, which is currently trading below the $1 mark, is on the brink of a major breakout, with the potential to skyrocket to $5.
Expert Sees Cardano Hitting $5 Soon
On October 6, well-known cryptocurrency analyst Dan Gambardello expressed optimistic predictions for Cardano on the platform X (previously known as Twitter). He emphasized past market trends and bullish cycles to support his claim that Cardano may surge beyond $1 by December. The analyst shared this forecast with his 262,900 followers.
In a comprehensive video explaining his optimistic forecast, Gambardello pointed out that if Cardano mimics the patterns from the previous bull run, it’s plausible for its value to dramatically increase, potentially reaching $1. During the 2021 bull market, Cardano was one of the leading altcoins, witnessing substantial growth that pushed its price to unprecedented highs.
Since reaching a record high of $3.10 in September 2021, Cardano’s value has dropped dramatically by approximately 88.43%, and it is now being traded at around $0.35. Additionally, the price of ADA has decreased by 8.41% over the last week, suggesting that the cryptocurrency is experiencing a bearish trend as reported by CoinMarketCap’s data.
Even though ADA‘s price growth has been slow, Gambardello predicts it could surpass its all-time high of $5. The analyst suggests that Cardano is particularly primed for a bull market compared to the previous cycle, pointing out favorable trends in key indicators like its Relative Strength Index (RSI) and the occurrence of higher low points.
According to Gamberdello’s analysis, Cardano could potentially surpass the $1 mark by the end of 2024, with further growth predicted between $5 and $10. The analyst is optimistic about this positive forecast, stating that reaching $5 represents a realistic goal for the price increase.
To attain new record highs of $5, Gambardello explains that keeping an eye on the 50-week and 20-week Moving Averages (MA) is important. He emphasizes that for Cardano (ADA), it needs to initially surpass $0.38, followed by reaching $0.42, which could then lead to a possible upward breakout.
Bullish Forecast For Cardano Continues To Grow
Sharing a similar sentiment with Gambardello, a popular crypto analyst, identified as ‘Sssebi’ on X has predicted that ADA could potentially skyrocket to $10 by 2025. The analyst notes that the cryptocurrency could experience a sharp breakout to the upside, first surging to $0.5 before hitting the coveted $1 price mark.
Following his prediction, I find myself pleasantly surprised by Sssebi’s forecast for ADA reaching $3, a significant jump that could stir excitement in the broader crypto market. He envisions a possible price escalation to $10, which might trigger a wave of FOMO (Fear Of Missing Out) among investors as they recognize the immense potential hidden within Cardano.
Read More
Sorry. No data so far.
2024-10-09 05:10