Cardano (ADA) Heading to $10? Analyst Believes Target is “Very Realistic”

• Analyst predicts Cardano price at $10.
• Short-term decline does not alter optimism.
• Potential market cap of $1 trillion.

The week started with a drop of almost 10% in the price of cryptocurrency Cardano (ADA), following a general slowdown in the cryptocurrency market following the recent hack on the Bybit exchange and weaker activity on the blockchain. However, despite the short-term volatility, renowned analysts such as Dan Gambardello maintain an optimistic view on the long-term potential of the ADA token.

Gambardello, a cryptocurrency analyst known for his assertive predictions, reaffirmed his confidence in ADA, stating that a price target of $10 is “very realistic,” in a analysis shared on his YouTube channel recently. He bases his analysis on a macro perspective of the Cardano chart and the bullish cycles of the cryptocurrency market.

“The path to $10 is very realistic when you look at this macro chart on Cardano and the macro cycles of cryptocurrencies,” he highlighted.

The analyst highlights Cardano’s DeFi ecosystem as a key driver of ADA’s future growth, comparing the current phase to a “ground floor” for market investors. He believes ADA is among the altcoins best positioned to reach a $1 trillion market cap, alongside industry giants Bitcoin, Ethereum, and XRP.

Comparing ADA’s current price action with previous cycles, the analyst suggests in his technical analysis that history will repeat itself, indicating an imminent rally for the cryptocurrency. “I don’t know if the change will happen now, in a month or two, but a change like this is what we see not only with ADA but also with other cryptocurrencies,” he says.

At the time, Gambardello also highlighted that Cardano’s market cap is still far below Ethereum’s last cycle peak, which highlights his estimate of a price range between an impressive $5 to $10. “The $350 billion market cap is still much lower than what Ethereum did in the last cycle. It is becoming clear to the industry that Cardano is much more fundamentally sound, secure and decentralized than Ethereum,” he argues.

At the time of publication, Cardano price is quoted at $0,7305 with a decline of 5.9% in the last 24 hours.