Dan Gambardello, the founder of Crypto Capital Venture, is bullish on Cardano (ADA) breaking new price levels as early as January. Gambardello, in an X post, says ADA could hit $2 based on the "cycle data."
Path to $3: Gambardello's cycle analysis
Gambardello maintains that Cardano’s spike to $2 will occur faster than the market anticipates. He believes that, based on technical analysis, historical price cycles, upgrades or other macroeconomic factors, ADA could hit $2 in the near term.
The Cardano pump to $2 will likely be here sooner than most people realize.
And according to cycle data, the pump back to $3 could realistically occur by January 10.
Since I’m usually slightly early with these things, let’s say January 24th.— Dan Gambardello (@cryptorecruitr) December 10, 2024
"According to cycle data, the pump back to $3 could realistically occur by January 10," Gambardello stated.
This suggests that ADA could achieve new price levels within the second week of the first month of 2025. During its bull run, ADA last reached the $3 level Gambardello pegged in August 2021.
However, to stay conservative, Gambardello has adjusted his timeline for ADA to hit $3 to Jan. 24. This timeline allows for possible delays in market reaction or if Cardano’s momentum experiences a slower-than-expected price surge.
Current performance and investor sentiment
Gambardello’s post implies that he has posited that ADA will hit a possible all-time high (ATH) in the current bull cycle. This price recovery relies on historical trends and ongoing positive sentiment surrounding ADA in the broader crypto space.
While this might motivate investors to consider purchasing the asset, experts say Gambardello’s bullish stance remains a speculative guess. They maintain that other factors could derail Cardano’s rally to new levels.
In the meantime, ADA has seen a remarkable surge in its Open Interest amid its bullish YTD performance. The OI figures suggest traders are increasing their purchases. This could support ADA reaching new peak levels predicted by Gambardello.
As of this writing, the ADA price was exchanging for $1.03, down by 8.22% in the last 24 hours. Cardano rose by $1.15 in earlier trading before experiencing this drop.
