Crypto Capital Venture’s founder Dan Gambardello is bullish with Cardano (ADA) and on one could see it hit $2 by January 2025. In a post on X on Monday, Gambardello explained that cycle data and technical analysis suggest ADA will hit new price levels faster than expected.
Gambardello says the bull run to $2 is imminent and the price could even fire off to $3 before many market participants expect. ‘The recent cycle data would suggest a pump back to $3 could realistically happen by January 10,’ Gambardello said, reference to cycle data in crypto. During its last bull run, in August 2021, Cardano topped out at $3.
Cardano (ADA’s) Open Interest Surge Reflects Growing Investor Confidence
In order to factor in delays that could cause market reaction or a slower than expected surge, Gambardello moved his timeline for ADA reaching $3 to January 24, 2025.
Although there is careful fine tuning, his post suggests that ADA could reach an all time high (ATH) somewhere in this current bull cycle based upon historical trends and positive Cardano sentiment.
Gambardello’s predictions have attracted attention, but experts warn that his bullish stance retains a certain amount of speculation. ADA’s leg up to the anticipated price levels might be derailed by several factors; including market fluctuations as well as general macroeconomic factors.
But this doesn’t mean ADA hasn’t rallied BTC quite well, as the token has seen a boom in its Open Interest which is an indicator of increased trader faith, and perhaps support for its price jump too.
At the time of latest data, the former is trading at $1.03, down 8.22 percent in the past 24 hours after a spike to $1.15 earlier in the day. But the cryptocurrency’s ytd performance is optimistic, for those who believe in its future.
