He Cardano (ADA) Price It could be gearing up for a substantial price rally to new highs as one cryptocurrency analyst has identified an “insane bullish divergence” on the ADA/btc price chart. This unique technical pattern has raised expectations of a potential 10x rally in ADA price.
Why Cardano Price Could Soar Tenfold
Dan Gambardello, a popular cryptocurrency analyst, has conveyed his optimism x.com/cryptorecruitr/status/1831520871443308584?s=46″ rel=”nofollow” target=”_blank”>projections of the price of ADA, the native token of the Cardano ecosystem. Analyzing the ADA/btc price chart, Gambardello discovered a bullish divergence pattern that suggests that a price surge It may be imminent for ADA.
Typically, a bullish divergence occurs when the price of a cryptocurrency, in this case Cardanomarks a new low, but the relative strength index (RSI) indicator does not. This circumstance suggests that ADA Downtrend It is finally losing momentum, which could indicate the start of a bullish price reversal and an uptrend.
Gambardello's ADA/btc price chart follows the Cardano price in relation to bitcoin Over time, analysis reveals that a similar bullish divergence pattern occurred on the ADA/btc chart about four years ago.
At that time, Cardano had experienced a massive crisis. Price increases of more than 1,000% against bitcoin, setting the stage for its rise to new all-time highs of $3.10 in September 2021. In light of this recurring historical pattern, Gambardello suggests that the current ADA/btc bullish divergence could be a precursor to a similar trend. crypto-analyst-why-cardano-remains-fundamentally-bullish/” rel=”nofollow noopener” target=”_blank”>price increase for Cardano.
The realization of this historical trend could see the price of ADA increase by a whopping 10x, potentially boosting its current value of $0.319 to over $3 in this bull cycle.
Analyst predicts ADA will reach its all-time high price again
The DApp analyst, a market research and marketing account for DeFi projects in the Cardano ecosystem, visited x on September 5 to x.com/thedappanalyst/status/1831789347735290032?s=46″ rel=”nofollow” target=”_blank”>discuss The potential Future performance of ADAThe analyst based his analysis of ADA on several economic factors and historical market trends.
According to The DApp Analyst, the price of ADA will skyrocket significantly, potentially 860% to reach all-time highs above $3 again. By the first quarter (Q1) of 2025, they anticipate that Federal Reserve (FED) could turn towards a more flexible monetary policy, possibly characterized by lower interest rates and increased the money supply.
Furthermore, the analyst believes that Cardano has now become a more credible investment, discarding previous perceptions of it being a speculative asset. They revealed a connection between the decline in 1-year United States (US) Treasury bond yields and ADA price increaseHistorically, as bond yields fell, Cardano's value increased significantly, even Surpassing bitcoin.
Following this historical trend, the analyst has suggested that 2025 may mark the beginning of altcoin seasonwith cryptocurrencies like ADA experiencing significant price increases and growth.
Featured image created with Dall.E, chart from Tradingview.com
