Cardano (ADA) Bull Run is Undeniable, Predicts Analyst: Is $1.137 Next?

Crypto analyst Dan Gambardello, founder of Crypto Capital Venture, has sparked renewed optimism in the Cardano (ADA) community, boldly declaring that the next Cardano is poised to go parabolic. His analysis emphasizes ADA’s current price momentum, suggesting a significant upward trajectory is imminent.

Cardano (ADA) Currently Trading Around $0.82, Showing Strong Gains

Cardano is currently trading around $0.82 after a substantial 19% gain last week, signaling robust buying pressure. This positive price action has captured the attention of traders and analysts alike.

Technical Analysis Points to Further Upside for ADA

Technical indicators support the bullish sentiment. A crypto analyst, known as Trend Rider (@TrendRidersTR) on X, has declared that ADA is showing clear signs of a bull run based on technical analysis of its Relative Strength. One key formation, an inverted head and shoulders pattern, suggests a possible rally to $1.137. This pattern is often seen as a strong indication of a trend reversal and potential upward price movement.

Open Interest and Long-Term Models Confirm Bullish Outlook

Open Interest in ADA futures has also been increasing, reflecting growing participation and confidence in Cardano's future performance. Furthermore, long-term risk models suggest the Cardano bull run may still be in its early stages, implying considerable room for growth. As Gambardello highlighted in a detailed thread uploaded on X, Cardano is gaining momentum with the possibility of a breakout above a key resistance level.

Is Cardano Ready for a Parabolic Move?

With analysts predicting a potential parabolic surge and technical indicators aligning with a bullish narrative, the question remains: is Cardano ready for a significant breakout? The combination of strong price action, positive technical patterns, increasing open interest, and optimistic analyst predictions paints a compelling picture for ADA's future.