Cardano community continues to work to reach $1 psychological support. The price has recorded a 12% growth in the past week and is currently trading at $0.60.
While the ADA community thinks that the price should exceed the $1 barrier, Dan Gambardello opposes this view by analyzing previous cycle charts. The analyst argues that ADA’s current position actually exceeds expectations.
As we reported as Koinfinans.com, Gambardello also drew attention by revealing his critical attitude that ADA could not get $ 1 back before the Bitcoin halving.
He even created a challenge by promising to give away 1,000 ADA to a lucky crypto enthusiast if Cardano reaches this goal within the stated timeline. However, Gambardello expressed his sincere hope that his prediction would prove wrong.
When Will Cardano Reach Its $1 Target?
Gambardello made predictions about when he believes it would be appropriate for ADA to break into the $1 range.
The analyst first touched on scenarios where Bitcoin continues its current uptrend and surges upwards without a pullback before consolidating.
He emphasized that if Bitcoin falls and consolidates before attempting another breakout before the halving, there will be doubts about ADA’s ability to reach $1.
Meanwhile, he hypothesized that Bitcoin continues its explosive trend heading into the halving. Gambardello referenced Cardano’s historical chart in 2020, specifically in November when Bitcoin started its bull market rally.
The analyst touched on the performance of Cardano price during the bullish season following the breakout of the bull season at the end of 2020. He then copied this pattern and applied it to ADA’s current market position.
This suggested that the price could reach $1 shortly before the halving.
Source : The Crypto Basic