Cardano (ADA) price recently experienced a slight decline amid a broader crypto market downturn, trading near $0.68 after touching a 24-hour high of $0.7013. Despite short-term volatility, market experts maintain optimism about ADA’s potential, highlighting a bullish outlook supported by rising trading volumes and cautious futures open interest.
Notably, crypto analyst Dalin Anderson compared ADA’s current market structure to Bitcoin’s 2012-2013 bull cycle, suggesting that Cardano is following a "super BULLISH pattern". Anderson projected a market capitalization exceeding $130 billion for ADA this cycle, implying a price target around $3.67 per coin. Another analyst, Dan Gambardello, forecasted a potential bullish rally pushing ADA price toward $10, contingent on clearing critical resistance levels at $0.694 and $1.10.
Additional positive sentiment comes from the recent partnership between Cardano and Snek Memecoin, which has attracted trader interest. Furthermore, data from CoinGlass shows significantly higher ADA outflows than inflows on exchanges, indicating reduced selling pressure as investors move tokens to self-custody, enhancing bullish fundamentals.
Several prominent analysts describe ADA as a "top 10 gem" with strong fundamentals, rising adoption, and a growing ecosystem, predicting price surges to $2-$3 within the year. Despite a 9% weekly price dip, these factors contribute to expectations of an imminent rebound and sustained rally for Cardano.