Cardano (ADA) has experienced a dip in its value, but crypto analyst Dan Gambardello believes that now could be the perfect time to buy ADA before the next major rally. Gambardello compared ADA’s recent price action to previous bull cycles and noted that similar pullbacks have historically preceded significant rallies for the altcoin. This suggests that there is potential for growth ahead. Gambardello also highlighted ADA’s current market phase, characterized by a “break of structure,” which aligns with typical bull market patterns. Despite lagging behind Bitcoin in surpassing previous all-time highs, ADA’s market behavior indicates a healthy bull market trajectory.
Gambardello further compared ADA’s potential for growth to Ethereum, citing the development of decentralized finance (DeFi) projects on both platforms as catalysts for innovation and growth. He predicts a “significant breakout” for ADA, similar to what Ethereum has experienced.
In addition to Gambardello’s analysis, crypto exchange Changelly has presented a bullish long-term outlook for ADA. The exchange predicts that ADA could surpass the $10 mark by 2030, with expectations of continued growth leading to ADA eventually trading over $165 by 2040 and ending the year around $600.
Despite the recent dip in value, ADA is still up roughly 15% over the past week. It is currently trading at $0.70 with a market capitalization of $25.7 billion and a trading volume exceeding $2 billion in the past 24 hours.