Cardano (ADA) Price Super Cycle Predicted by Top Analyst
2024-12-13
Category: None

Cardano ADAUSD, one of the leading altcoins, continues to trade above the $1 mark despite tempered sentiment on the broader market. At the same time, there are discussions about a potential supercycle for ADA.
Bullish ADA prediction
In an X post, market analyst and Crypto Capital Venture founder Dan Gambardello made a bullish prediction for ADA. The analyst cites the current trend on the daily chart and foresees ADA reaching as high as $14 soon. 
The Cardano milestones of $3, $7, and $14 do not look far at all when you open up a daily chart.
Super. Cycle. pic.twitter.com/NvSw0p7z4o
According to Gambardello, the ability of ADA to climb toward $3, $7 and eventually $14 seems very near. Consequently, he predicted that a super cycle is on the horizon for ADA. Notably, a "supercycle" is usually marked by higher trends and fewer retracements, indicating a longer bullish trend. 
Gambardello’s supercycle prediction is consistent with ADA’s current price trend. ADA’s price has grown steadily over the past month but is currently consolidating between $1.00 and $1.17. 
The ADA price was trading at $1.09, down 6.26% and 7.8% in the last 24 hours and seven days, respectively. The ongoing consolidation creates short-term resistance at $1.05, hinting at market participants taking profits.
However, the minor slowdown in momentum over the last few days suggests that investors are holding out for further catalysts. Backed by solid fundamentals and increasing adoption, ADA may continue to exhibit a bullish structure instead.
Cardano ecosystem updates
In an exciting update for the ecosystem, Cardano ADAUSD developer Input Output Global announced the release of Daedalus v7.0.0. The new release represents an updated version of full-node desktop wallet software optimized for a new ADA delegation design.
On Thursday, Cardano founder Charles Hoskinson addressed security concerns surrounding the coin. Hoskison pointed out that Ethereum's scientists have failed to engage with Cardano's research or study its network, leading to misunderstandings about the coin's capabilities and security mechanisms.