thecryptobasic.com
Cardano (ADA) is gaining momentum with recent price movements and fundamental developments fueling bullish investor sentiment.
Dan Gambardello, a well-known Cardano analyst, believes the market is still underestimating ADA’s potential, urging the community to adjust its outlook in light of recent developments.
Major Cardano Partnerships
First, Gambardello pointed to potential collaborations with Bitcoin, Ripple, Stellar, and Dogecoin, which could position ADA as a key player in the crypto ecosystem. He referenced recent posts from influential figures like Jed McCaleb, founder of Stellar, and Ripple CEO Brad Garlinghouse, who have expressed positive sentiments about Cardano’s future.
Notably, Charles Hoskinson, Cardano’s founder, has been proactive in fostering these relationships. He recently stated his plans to hire a dedicated team to make Cardano the dominant platform for Bitcoin DeFi.
This move seeks to leverage Bitcoin’s capital base while integrating ADA into decentralized finance, which could bring substantial volume to Cardano’s ecosystem. Gambardello calls this a “game-changing approach” that underscores ADA’s long-term potential.
Interestingly, he argued that Cardano’s partnerships with Bitcoin and other major networks are incredibly bullish factors that could allow ADA to surpass Ethereum in the coming years.
Looking at Cardano from the Technical Side
On the technical side, Gambardello highlighted ADA’s attempt to break out of a symmetrical triangle pattern with a potential target of $0.90. While this short-term technical analysis shows promise, he advised caution.
Gambardello acknowledged that ADA could face some consolidation soon, pointing to a possible pullback to the $0.58–$0.60 range before continuing its upward trajectory. This comes after multiple days of green candles.
The analyst noted that the projected resets are necessary for sustainable growth, aligning with similar patterns observed in previous cycles.
Essentially, Gambardello remains confident in ADA in the long term amid the project’s fundamentals and recent developments. In his words, “the current macro landscape for Cardano is incredibly strong,” and he believes patience will reward long-term investors.
With the bull run entering a new phase, Gambardello believes ADA is poised to become a leading force in the market.
At press time, Cardano is trading at a multi-year high of $0.8331, following a 14% surge in the last 24 hours. These gains further amplify ADA’s impressive two-week performance, showing a 134% growth.