Cardano (ADA) price has potentially bottomed out. Crypto analyst Dan Gambardello has predicted that the ADA price is ready for a move akin to its rally during the crypto summer of 2020/2021.
Cardano (ADA) price has potentially bottomed out. Crypto analyst Dan Gambardello has predicted that the ADA price is ready for a move akin to its rally during the crypto summer of 2020/2021.
The crypto analyst has noted that the ADA price has formed a symmetrical rising trend, characterized by higher highs and higher lows. If ADA price experiences a full-blown rally in the near term, Gambardello believes it could reach a market cap of between $291 billion and $197 billion. As such, the analyst believes that the ADA price could reach a target of between $8 and $5.41.
Cardano’s price has retested and rebounded from its support level around $0.55. Since 2024, this zone has largely acted as a key support area, although the price has occasionally slipped below it before recovering. As such, the narrative that the ADA price is ready for a parabolic rally will be validated if it continues to hold above this liquidity level in the coming weeks.
Last week, holders with accounts holding between 100,000 and 1,000,000 ADA coins reduced their holdings by around 4 million ADA. As such, this group of ADA investors now holds around 5.82 billion coins, according to on-chain data analysis from Santiment.
However, the ADA whales have since stabilized their selling pressure ahead of the anticipated liquidity expansion. Notably, the United States Federal Reserve will officially begin its much-anticipated Quantitative Easing (QE) early next month.
As such, the ongoing global liquidity will eventually trickle down to the crypto market as a better-performing alternative class.
The Cardano bullish outlook is bolstered by its notable community consensus on key network updates. Earlier this week, Cardano founder Charles Hoskinson ADA critics that both Leios and the Hydra Layer two (L2) scaling solution are ready for shipping by early 2026.
The detailed network development for the Cardano ecosystem has increased its odds of a near-term bull run. Moreover, the ADA/USD pair has been moving in lockstep with the wider crypto market led by Bitcoin (BTC), thus the high prospects of Cardano’s parabolic rally are imminent.
