Key Insights
- Cardano price may be entering one of its most important growth phases, with support from historical trends.
- According to analyst Dan Gambardello, the asset could be headed for highs around $7 to $8 by early next year.
- Positive regulatory changes in the US and other technical patterns show that a breakout is inbound.
Cardano price could be heading for a major shakeup, according to respected crypto analyst Dan Gambardello. In a recent analysis video, the analyst pointed out several factors.
These factors support the rise of ADA in the next few months. More and more institutional investors are showing interest, and technical patterns are aligning for a push towards $8.
Cardano Price Strength Built on Historical Patterns
Gambardello started his prediction by looking at the Cardano price history. He explained that Q4 and Q1 have consistently delivered some of the most substantial gains in ADA’s past market cycles.
Some interesting examples include periods like late 2020 and early 2021. This, according to Gambardello, acted as a launchpad for major rallies. He also shared updates from a DAP analyst. This analyst believes ADA could be headed for a price between $7 and $8 by Q1 next year.
While he mentioned that this outlook was speculative, he believes these predictions are grounded in data and trend cycles. In sum, historical patterns show that Cardano could be ready to shine in the next few months.
Important Support Levels and Pre-Bull Market Signals
At the time of the video, the Cardano price was around $0.72. This happened after recently dipping from a local high of $0.86. According to Gambardello, this decline is not a sign of weakness.
Instead, it is a sign of a healthy pullback. ADA price is undergoing a healthy retest of key moving averages. Notably, it's testing the 50-day average near the upper $0.60 range.
Gambardello’s risk model rates ADA at a score of 37, which is typically seen during a “pre-bull market” phase. Similar scores in past cycles tended to come right before major upward moves.
In all, Gamabardello expects the Cardano price to dip to the $0.60–$0.67 Fibonacci support zone. This could be seen if it is still primed for a strong rebound.
Technical Patterns Point to Higher Targets for Cardano Price
ADA price action is also in line with some very promising technical setups. One is the recent breakout from a descending trendline, a typical bullish pattern.
As illustrated, the cryptocurrency has returned to the triangle’s upper resistance. This tends to come before a continuation higher. Aside from this triangle pattern on the chart, Gambardello says that Cardano forms an inverse head and shoulders pattern.
This classic setup indicates that a reversal is underway. Also, if the Cardano price can break above the $1.00 level, it could confirm the pattern. Once this happens, a strong rally is likely to follow. And Gambardello sees $1.80 as the next technical stop.
Regulatory Clarity Could Boost Cardano Price
ADA could also benefit from a change in its fundamentals. Gambardello pointed out a significant ruling from the SEC, which clarified that “liquid staking is not a security”.
This is great for Cardano because it offers one of the most secure liquid staking systems. It reduces uncertainty for the cryptocurrency and may attract new institutional interest.
In addition, the IOG team plans to launch the Midnight token in Q4 of this year. Gambardello believes this is highly strategic, and developers wouldn't launch a new token in a bear market.
This timing shows great confidence in the market’s direction from the developers. Also, the stars could be aligning for Cardano’s market outperformance.
Ivan Petrov is a seasoned journalist with deep insights into Russia’s dynamic crypto landscape. His work focuses on market dynamics and the transformative potential of blockchain technology, making him a go-to expert for understanding Russia’s digital financial innovations.
