A recent analysis has claimed that Cardano is still in the early stages of a bullish price development; hence, current levels are good buy opportunities.
Specifically, Wolfster shared this analysis in his X post on Sunday, attaching a chart to further elaborate on his Cardano price prediction. It shows how ADA has trended within an expanding ascending triangle, mirroring the famous “Livermore Speculative Chart” designed by the legendary trader Jesse Livermore.
Cardano Entering Pre-Parabolic Phase
Cardano entered the triangle in one of its bear market lows of $0.25 in September 2023 and has since made higher lows and higher highs within the developing structure. From the low, the ADA price has increased by 168% to its current market price of $0.67.
Meanwhile, the historic October 10 leverage flush, which wiped out nearly $20 billion, saw Cardano retest the lower support of the triangle. Nonetheless, the analyst noted that the bull run is still on and expects fireworks soon.
According to him, this is because Cardano is now entering its pre-parabolic phase, marked with explosive price actions. He claimed that ADA below $1 is “free money,” insisting this is the final bottom before the leg up to unprecedented prices.
New All-Time Highs for Cardano if Structure Holds
If the structure holds, Cardano could follow the Livermore Speculation Chart, potentially targeting new all-time highs. The accompanying chart shows that ADA could reach $8, representing a 1,094% increase from the current market price.
The journey to this high would begin after Cardano breaks out of the current triangle. When it does, the chart shows brief stops at areas marked 8 and 9 before reaching $8. Meanwhile, the analyst expects ADA to have gone far in this move by Q1 2026, predicting a new all-time high for the token by then.
Notably, Cardano would have to increase by at least 363% from the current market level to break its 2021 peak price of $3.10.
Remarkably, analysts are growing more confident Cardano could reach the $8 price level this bull cycle. Cardano decentralized representative (DRep) Chris recently predicted this price target for Cardano, asserting a rally to between $5 and $8.
Dan Gambardello also believes Cardano would launch to $8.5, providing appropriate strategies to maximize this upside.
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.
