Is Cardano Price Breakout Likely As It Mirrors BTC’s Past Cycle?

Cardano price has once again gone red amid a broader crypto market retreat, after witnessing marginal gains in the early US hours.

However, despite the recent volatile trading scenario, the market pundits have maintained a bullish outlook on the future trajectory of the coin.

For context, a renowned crypto market figure has recently drawn a line between ADA’s recent performance and Bitcoin’s historic bull run, predicting a potential Cardano price breakout ahead.

Cardano Price Stays Near Flatline: Here’s All

ADA price today stayed near the flatline and exchanged hands at $0.6820 during writing, after touching a 24-hour high of $0.7013.

However, the one-day trading volume of the crypto was up around 3% to $548.61 million, indicating soaring trading activity of the asset.

Meanwhile, CoinGlass data showed that Cardano Futures Open Interest also fell about 1%, indicating a cautious stance of the market participants.

On the weekly chart, Cardano price lost more than 9% but added around 4% over the last 30 days. Amid this, a flurry of experts have predicted a potential breakout for ADA ahead.

Notably, in the long term, a market pundit even said that the crypto might hit the brief $10, sparking optimism among traders.

What Lies Ahead for ADA Price?

Although Cardano price dipped today amid a broader crypto market downturn, analysts remained optimistic. Some even said that the ADA performance now mirrors Bitcoin’s historic bull run, hinting at a massive rally ahead for the crypto.

For context, renowned market expert Dalin Anderson has sparked discussions with his recent comment on ADA price.

In a recent X post, Anderson said that he believes Cardano price is following a “super BULLISH pattern,” echoing Bitcoin’s 2012-2013 cycle.

He also shared a chart that shows ADA’s market structure aligning closely with that early BTC breakout.

Meanwhile, the chart that he shared projected a market cap of over $130 billion for Cardano in this cycle.

With ADA’s current circulating supply around 35.34 billion, this would drive the price to around $3.67 per coin. Having said that, it appears that ADA is gearing up for a massive breakout ahead.

However, this isn’t just a speculative hype. Many crypto assets, including Bitcoin, have historically followed cyclical price patterns.

So, if Cardano continues to follow the route, it could mirror BTC’s old trajectory and surprise the traders with a robust advancement.

Can Cardano Price Rally Further to $10?

Amid the bullish predictions from the market pundits, analyst Dan Gambardello has caught the eyes of the investors. In a recent X post, Gambardello predicted a bullish rally ahead for Cardano price, potentially hitting $10.

Meanwhile, he has shared a price chart for ADA and said that “Cardano is going to explode.” However, the expert noted that to achieve the height, ADA must first clear the resistance at $0.694 and then rally through $1.1.

In other words, the expert noted that clearing these levels could confirm the continuing rally ahead. Besides, the recent developments in the Cardano ecosystem could further boost the market sentiment.

For context, a recent report from The Coin Republic showed that Cardano and Snek Memecoin have partnered, which has gained notable traction from the traders.

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