Cardano Price Prediction: The Roadmap To New All-Time Highs
14 September 2024 - 3:00AM
NEWSBTC
Crypto analyst Dan Gambardello has highlighted the Cardano (ADA)
roadmap to a new all-time high (ATH). The analyst also suggested
that Cardano was halfway to reaching a new high, noting what part
of its cycle the coin was currently at. Cardano Is In
Stage 3 Of Its Cycle Gambardello remarked in an X (formerly
Twitter) post that Cardano is in stage three of its cycle. He
claimed that this part of the cycle for ADA is the “Told you. You
should’ve listened” stage. This refers to the point where investors
begin to capitulate, thinking that the crypto is unlikely to surge
in the bull market given its bearish price action. Related
Reading: XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC
Appeal; Analyst Reveals Once this stage is done, Cardano is
expected to move to the next stage of its cycle, which Gambardello
called the “Here we go again, another bull trap” stage. This stage
will help shake out the short-term traders who jumped on ADA,
believing its price would rise soon enough. Once the non-believers
have been shaken out, the analyst predicts that Cardano will move
to the last part of its cycle, when it will shatter its ATH and
reach new highs. In his accompanying chart, Gambardello
predicted that Cardano would rise to as high as $15 by year-end
2025. The analyst also indicated that ADA will enjoy a price surge
beyond 2025, expected to mark the end of this cycle’s bull run.
Interestingly, he forecasts that Cardano’s price will double in a
year and rise to $31 by year-end 2026. A rise to $31 means
that Cardano will have a market cap of $1 trillion. For context,
the crypto market currently has a market cap of $2 trillion,
meaning that figure is set to increase exponentially if ADA alone
becomes valued at $1 trillion. The analyst didn’t provide any
reason for believing the crypto can experience such massive growth
in two years. A More Conservative Price Prediction Crypto
analyst InvestingHaven has offered a more conservative price
prediction for Cardano. In an X post, the analyst stated that the
crypto will reach a “super bullish target of $1.95” in 2025. He
also questioned whether ADA was ready for a breakout, claiming that
the $0.443 Fibonacci level was the key to unlocking higher
prices. Related Reading: Bitcoin Forms Golden Cross On
2-Month Chart, Here’s What Happened Last Time InvestingHaven added
that the 2025 outlook for Cardano is full of potential, reaffirming
that this is when the crypto will enjoy a parabolic rally. ADA has
had a rough 2024 despite bullish developments like the Chang Hard
Fork, which ushered in a decentralized governance system for the
Cardano network. It is one of the worst-performing crypto assets
this year, with a year-to-date (YTD) loss of over 40%. At the
time if writing, Cardano is trading at around $0.35, down almost 2%
in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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