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Cardano Bull Targets $12 as ADA Supertrend Remains on Track

Cardano Bull Targets $12 as ADA Supertrend Remains on Track

CryptoNewsNetCryptoNewsNet2025/03/17 09:55
By:thecryptobasic.com

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.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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