- Dan Gambardello argued that the much-anticipated ADA rally is now closer than ever.
- He cited historical data to prove ADA is performing well and not lagging behind Bitcoin.
- Gambardello believes ADA’s bullish explosion could take the asset to $1.5.
Renowned Cardano (ADA) bull Dan Gambardello has argued that the much-anticipated shocking rally for ADA is closer now than ever, drawing inspiration from the previous bull cycle.
Gambardello expressed this sentiment amid growing apprehension that tension in the ADA community that the asset is underperforming given that Bitcoin has already cracked its 2021 all-time high. In contrast, Cardano’s market value of $0.7304 is 76.35% below its 2021 peak of $3.10.
However, Gambardello argues that ADA is performing well with its current price. To support his view, he cited the historical candlestick patterns of Bitcoin and compared it to Cardano.
In particular, Gambardello pointed out Bitcoin broke the previous bull market doors by first testing its 2017 all-time in late 2020. He noted that Bitcoin ranged around $18k between November and December 2023 before ultimately breaking the $20k price point by mid-December.
Gambardello drew parallels with the candlestick patterns Cardano engineered during the same period. The analyst highlighted that ADA traded around $0.093 in November 2020, when Bitcoin opened the last cycle’s bull season. He emphasized that ADA’s price point was about a staggering 90% below Cardano’s 2017 all-time high of above $1.17.
On the other hand, ADA’s current price is 76% below its 2021 ATH of $3.10. As a result, Gambardello stressed that Cardano is performing optimally and not lagging as some community members feel.
Moreover, Cardano reclaimed the $1 mark within sixteen weeks by growing by 975.26% from the $0.094 value of November. Considering this historical precedence and the observation that ADA mirrors the late 2020 pattern, Gambardello asserted that ADA’s bullish explosion is around the corner, targeting a rally to $1.5.
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