This Cardano (ADA) price could be poised for a significant price rally to up-to-date highs, as a crypto analyst has identified a “crazy bullish divergence” on the ADA/BTC price chart. This unique technical pattern has raised expectations for a potential 10x price rally in ADA.
Why Cardano’s Price Could Augment 10X
Dan Gambardello, a popular cryptocurrency analyst, has given his positive commentary projections price of ADA, the native token of the Cardano ecosystem. While analyzing the ADA/BTC price chart, Gambardello discovered a bullish divergence pattern that suggests price rebound may be imminent for ADA.
Typically, a bullish divergence occurs when the price of a cryptocurrency, in this case Cardanis making a up-to-date low, but the Relative Strength Index (RSI) is not. This suggests that ADA Bearish Trend is finally losing momentum, which could be a signal of an upcoming bull market and uptrend.
Gambardello’s ADA/BTC price chart follows Cardano price vs Bitcoin over time. Analysis reveals that a similar bullish divergence pattern occurred on the ADA/BTC chart about four years ago.
During this time, Cardano experienced a huge price raise of over 1000% against Bitcoin, which set the stage for its rally to up-to-date all-time highs of $3.10 in September 2021. In lightweight of this recurring historical pattern, Gambardello suggests that the current bullish ADA/BTC divergence could be a precursor to a similar raise in prices for Cardano.
The realization of this historical trend could cause the price of ADA to raise by as much as 10x, potentially increasing its current value from $0.319 to over $3 during this bull cycle.
Analyst sees ADA hit all-time high again
DApp analyst, who deals with market research and marketing of DeFi projects in the Cardano ecosystem, spoke on September 5 about X to discuss Potential future ADA resultsThe analyst based his analysis of ADA on various economic factors and historical market trends.
According to The DApp Analyst, the price of ADA is set to skyrocket, potentially increasing by 860% and once again reaching all-time highs above $3. It is predicted to do so by the first quarter (Q1) of 2025. Federal Reserve (FED) may move to a looser monetary policy, which may be characterized by lower interest rates and increased money supply.
In addition, the analyst believes that Cardano has now become a more credible investment, shedding its previous perception as a speculative asset. They revealed a link between falling yields on 1-year United States (US) Treasury bonds and rising ADA pricesHistorically, as bond yields have fallen, Cardano’s value has increased significantly, even surpassing Bitcoin.
Following this historical trend, the analyst suggested that 2025 could bring altcoin seasonCryptocurrencies like ADA are seeing significant price increases and increases.
Featured image created with Dall.E, chart from Tradingview.com
