Cardano

Cryptocurrency

bullish

<ul class="wp-block-list">
 <li>Crypto analyst Dan Gambardello predicts major move for Cardano (ADA).</li>
 <li>Parallels drawn between current market cycle and 2020 bull run.</li>
 <li>ADA could potentially reach $1 by December, with long-term targets of $5-$10.</li>
</ul>
<p>Cryptocurrency analyst Dan Gambardello has sparked intrigue in the <a href="https://thenewscrypto.com/?s=Cardano" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> community with his recent analysis, suggesting that <a href="https://thenewscrypto.com/?s=ADA" target="_blank" rel="noopener noreferrer nofollow">ADA</a> stands on the cusp of a major price movement.</p>
<p>Drawing parallels between the current market cycle and the 2020 bull run, Gambardello’s insights offer a compelling narrative for Cardano’s potential trajectory.</p>
<p>Reflecting on Cardano’s performance four years ago, Gambardello noted that ADA traded at $0.09 in October 2020, before embarking on a remarkable 3,340% rally to its all-time high of $3.10 in September 2021. This historical context serves as a foundation for his optimistic outlook on ADA’s current market position.</p>
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   <p lang="en" dir="ltr">CARDANO'S Next Move Will SHOCK The Masses! (You Should Be Ready)<br><br>Intro 00:00<br>Is Cardano really behind? 1:05<br>ADA more bullish this cycle 2:55<br>$1 could come fast! 4:40<br>A couple ADA scenarios 7:40<br>.42 this week? 9:30<br>Cardano dip support 11:30 <a href="https://t.co/WMe03mJo8J" rel="noopener noreferrer nofollow">pic.twitter.com/WMe03mJo8J</a></p>— Dan Gambardello (@cryptorecruitr) <a href="https://twitter.com/cryptorecruitr/status/1842982030176596060?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 6, 2024</a>
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<p>Addressing concerns about Cardano’s recent underperformance, Gambardello emphasizes that the current six-month consolidation phase following Bitcoin’s halving could conclude abruptly, mirroring patterns observed in previous cycles.</p>
<p>He argues that ADA’s present 88% drawdown from its all-time high is not unusual, comparing it favorably to the 92% decline seen at a similar point in the last cycle.</p>
<h2 class="wp-block-heading" id="h-gambardello-highlights-key-cardano-factors">Gambardello highlights key Cardano factors</h2>
<p>Gambardello highlights several factors contributing to Cardano’s enhanced strength in the current cycle, including improvements in infrastructure, advancements in Hydra scaling, unparalleled Layer 1 security, and the project’s transition to community ownership.</p>
<p>These developments, he contends, position ADA more robustly for the 2024/2025 season compared to the previous bull run.</p>
<p>Looking ahead, the analyst projects that Cardano could swiftly breach the $1 mark by December, contingent on a broader crypto market breakout. His long-term outlook suggests potential targets in the $5-$10 range, which he considers more realistic given Cardano’s current fundamentals and market position.</p>
<p>However, Gambardello tempers his bullish outlook with a note of caution, acknowledging the possibility of further consolidation before ADA’s anticipated surge.&nbsp;</p>

Crypto Analyst Predicts Major Move for Cardano, Compares ADA To 2022 Run

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