Since March, Cardano (ADA) has seen notable price declines. However, Dan Gambardello, a popular crypto analyst, predicts ADA could reach $31, a potential 8,500% increase, based on bullish technical indicators.
Gambardello noted the market has experienced 180 days of downside, making conditions favorable for a potential breakout. He highlighted the MACD on the weekly chart showing a bullish crossover, indicating ADA’s readiness to bottom.
Despite this optimism, Gambardello urged caution until ADA moves decisively above its 20-day and 50-day moving averages. Similarly, analyst Sssebi offered a conservative forecast, predicting a 20x to 30x rally over the next year, with ADA potentially reaching $5 to $10 by 2025.
Conversely, trader Lingrid cautioned against short-term bullishness, predicting a potential decline to $0.325 and consolidation between $0.30 and $0.34. This view aligns with bearish on-chain metrics indicating a prevailing bearish sentiment and declining open interest among traders.
At press time, ADA was trading near $0.352 with a recent modest price decline and reduced trading volume.
