2x ADA Midterm Price Pump Expected as Cardano Confirms Successful Falling Wedge Breakout

• Cardano (ADA) celebrates its 7-year anniversary and the altcoin shows bullish signs.
• According to the ADA price chart, the asset has confirmed a falling wedge breakout.
• One analyst expects ADA to make at least 2x gain in the midterm.

Cardano celebrates its seventh anniversary, soon after ADA reclaimed the rank of top 10 cryptocurrency based on total market cap according to CoinMarketCap analytics. Over the years, Cardano’s native token ADA has amassed a total market cap of $14 billion. The altcoin is presently gearing up to surge to new pumps as the crypto market faces Q4.

Cardano Celebrates 7 Years Since Inception

Built by Input Output Global (IOHK) and co-founded by Charles Hoskinson, Cardano has processed over 95 million transactions and launched over 1,370 projects. Significant upgrades have shaped Cardano’s journey so far, including the Shelley era, which enhanced decentralization and network security, and the Alonzo hard fork, which introduced smart contracts and boosted the development of decentralized applications (dApps).

Meanwhile, the latest Vasil and Chang upgrades further enhanced transaction efficiency and governance capabilities. Cardano’s roadmap includes the ongoing Voltaire era, which aims to introduce full decentralized governance. New governance features, introduced through CIP-1694, pave the way for community-driven decision-making.

ADA Price Prepares for 2X Gains Following Breakout

As the platform transitions away from its original genesis keys, the final phase of the Voltaire era will solidify Cardano as a self-sustaining, community-led blockchain. As the crypto market prepares for a bullish Q4, the price of Cardano (ADA) is already up by nearly 15% this week, currently trading at $0.4003. This price growth mirrors Cardano’s evolution, as it prepares for even greater milestones with decentralized governance at its core.

One analyst went on to highlight Cardano’s confirmation of a recent falling wedge breakout pattern on the ADA price chart. This movement has the analyst expecting a 2x bullish rally for ADA in the midterm and awaiting bullish momentum ahead.