While Bitcoin, Ethereum, and other major cryptocurrencies have clawed their way back towards all-time highs, Cardano (ADA) remains a lagging player. Currently trading 77% below its 2021 peak of $3.10, ADA’s struggles have some investors questioning its future.
However, seasoned market analyst Dan Gambardello, a known Cardano supporter, offers a glimmer of hope. He predicts a significant price surge for ADA, with a potential path towards double-digit territory by the end of 2024.
A Stepping Stone to $12.80?
Gambardello outlines a two-step approach for Cardano’s price recovery. First, he expects ADA to overcome the crucial resistance level of $0.80. This price point hasn’t been breached since February 2022, right before the infamous Terra (LUNA) crash. Overcoming this hurdle, he believes, will pave the way for a more substantial climb.
Following this initial breakthrough, Gambardello’s bullish prediction envisions ADA doubling in price progressively, potentially reaching a staggering $12.80.
Mirroring the Bull Run or Beyond?
While Gambardello’s forecast is undoubtedly optimistic, other analysts also foresee positive developments for Cardano. Estimates range from a conservative $1.5 to $3, mirroring the gains observed during the previous bull market. More aggressive projections even place ADA at a potential $10 by year-end, signifying a colossal 300% increase from its all-time high.
Also Read: Is Cardano (ADA) Undervalued? Top Analyst Claims “Massive” Industry Challenges Stifle Growth
A Note of Caution
It’s important to remember that cryptocurrency predictions are inherently uncertain. Market conditions can shift rapidly, and unforeseen events can significantly impact prices.
However, the convergence of positive outlooks from experienced analysts paints a potentially bright picture for Cardano’s future, both in the short and long term.
About The Author
