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Analyst Dan Gambardello has signaled a bullish outlook for Cardano, highlighting an ascending trendline and a potential double-digit price target.
Cardano ($ADA) experienced a sharp decline before recovering within a 24-hour period, highlighting market volatility. The cryptocurrency fluctuated between $0.69 and $0.74. The price dipped significantly before stabilizing around the $0.70 support level.
$ADA posted a 4.0% daily loss, while its weekly and monthly declines stood at 4.2% and 11.7%, respectively. However, on a year-over-year basis, the asset maintained a 6.9% gain, indicating resilience despite recent setbacks.
Cardano Supertrend On Pace
Meanwhile, a recent analysis by Dan Gambardello identified bullish indicators for Cardano. In a tweet, he shared a chart showing an ascending trendline, suggesting a potential upward reversal. According to Gambardello, “Cardano’s supertrend is on pace.”
The accompanying chart shows $ADA has formed a rounded bottom pattern, often associated with accumulation before an uptrend. The projected outlook suggested a long-term price target above $12.00.
Notably, the Relative Strength Index (RSI) showed a reading above 50 and an upward curve. If this trend continues, the RSI could reach 80, indicating increased buying momentum. Notably, such a move could reinforce bullish sentiment, supporting a price surge.
Cardano Supertrend On Pace pic.twitter.com/2Aa7O5jxZx
— Dan Gambardello (@cryptorecruitr) March 15, 2025
Views of Other Market Watchers on $ADA Price Potential
On March 13, market commentator Alex Becker commented on $ADA’s price outlook, suggesting a potential fourfold to fivefold increase from its current level.
Speaking in a YouTube podcast, he noted that investors leveraging the dip could see significant returns. The analyst referenced Cardano’s recent price movements, including a sharp spike to above $1 earlier this month following Donald Trump’s announcement regarding U.S. crypto reserves.
Despite his past criticism of the asset, Becker emphasized that $ADA’s current price remains undervalued. He compared this dip to past corrections, such as Bitcoin’s 25% drop from its peak and the broader market sell-offs during the FTX collapse and the COVID-19 crash. He stressed that historically, these downturns presented strong buy opportunities.
Becker also highlighted Solana, Near, and Bittensor as crypto poised for long-term gains. While he did not specify a timeline for $ADA’s growth, he maintained that multiple all-time highs remain achievable within years.
Active Addresses and Network Growth
Additionally, data from IntoTheBlock revealed increased activity on the Cardano network. Daily Active Addresses recorded a 7-day increase of 11.99%. Also, zero-balance addresses rose by 12.26%, indicating new user adoption.
Meanwhile, network activity posted a 4.79% weekly gain, reinforcing growing on-chain interactions.