Crypto analyst Dan Gambardello shares a bold outlook on Cardano (ADA), predicting that the cryptocurrency could break its all-time high in the next 30 to 60 days.
In this ADA news, Gambardello based his analysis on consistent patterns from previous market cycles and recent advancements in Cardano’s technology. He pointed to Cardano’s impressive milestone, surpassing 1 million transactions per second (TPS) while running Doom on Hydra, its scaling solution.
This achievement highlights Cardano’s growing capabilities and its readiness to handle vast amounts of transactions, making it one of the most scalable blockchains in the space.
Gambardello emphasized that these technological advancements, coupled with the upcoming Bitcoin interoperability set to roll out in 2025, position Cardano as a serious contender in the crypto market, potentially becoming the “most relevant blue chip in crypto.”
Political Factors Adding to the Bullish Sentiment
The analyst also discussed recent political developments, which add to the bullish sentiment surrounding Cardano. Gambardello highlighted the potential appointment of former SEC commissioner Paul Atkins as the SEC chairman.
Atkins has long been a proponent of blockchain technology and even spoke at a Cardano conference in 2020, making his involvement a positive sign for the project’s future. According to Gambardello, this move could signal increased regulatory clarity and institutional support for Cardano.
Bullish Narrative from Technical Perspective
From a technical perspective, Gambardello pointed out that Cardano is currently testing key resistance levels, which he calls the “bull market doors.” He noted that in previous cycles, Cardano experienced dips before surging past these levels. Accordingly, he anticipates a similar scenario could unfold in the coming weeks.
If history repeats, Cardano could see a sharp upward movement to break past $3 by the end of December, according to Gambardello.
Cardano Path to All-time High
However, the analyst also cautioned that a short-term pullback is possible. He referenced previous cycles where Cardano saw dips of 30-40% before rallying to new highs, advising investors to prepare for potential volatility.
Despite this, Gambardello is confident in Cardano’s long-term prospects and sees the next 30-60 days as critical for ADA’s breakout.
In closing, Gambardello urged viewers to stay engaged with Cardano’s journey as the project continues to evolve technologically and gain more mainstream attention. With momentum building in both the tech and regulatory spheres, Cardano’s path to all-time highs seems increasingly likely.
At press time, Cardano is trading at $1.20 after registering a massive 260% growth in the last 30 days. At this price, ADA is 61% below its all-time high. Meanwhile, breaking the $3.10 peak would require a rally of 158%.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
