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With the current crypto market outlook, Cardano (ADA) proponent Dan Gambardello recently predicted that ADA could soar beyond the $1 price mark soon.
Dan Gambardello, the founder of Crypto Capital Venture, asserted in a recent post that ADA’s days below $1 would soon be over. He has always projected a massive uptick for the coin as he and other analysts believe the asset has minimal resistance to print a new All-Time High (ATH).
Cardano won’t be below $1 much longer.
— Dan Gambardello (@cryptorecruitr) February 27, 2024
Cardano Price History
Cardano has rich historical price trends that complement the projections made by Gamberdello. While it traded as low as $0.01735 in October 2017, ADA has recorded an unsustained breakout above the $1 mark on several occasions in the past.
One of the earliest price breakouts above $1 came on January 4, 2018 when the price of ADA touched $1.094. The coin dropped after achieving this feat and did not retest the $1 mark until early February 2021. The 2021 Calendar year marked an exceptional one for Cardano, seeing its price rallied to the ATH above $3.1.
The slump recorded after that cycle top has been intense, dragging the price of Cardano to a low of $0.2304 over the past year.
Current indications now show the worst is over and Cardano is on track to ride the current bullish wave surrounding Bitcoin (BTC). The asset seeks to chart a defined path for itself in the mid to long term.
Cardano Price Forecast
While the latest message from Dan Gambardello exudes optimism, in precious calls, the analyst has projected the likelihood of ADA hitting the $1 price mark before the upcoming Bitcoin halving event.
Beyond Gambardello, other analysts are very bullish on ADA, with some of the most conservative projections pegging the price of the cryptocurrency at $3 in the near future.
Cardano as a protocol is gearing up to back up these forecasts with more intense ecosystem development.
As reported earlier by The Crypto Basic, the blockchain has unveiled 300 projects it is funding through the Project Catalyst Fund 11. With more DApps and real world use cases set to make their emergence on Cardano, the protocol is primed for more impressive growth in the long term.