Cardano (ADA) price has recently surged, and market analysts are now looking at the possibility of ADA to reach its all-time high within the next 30 to 60 days.
Dan Gambardello, a crypto analyst, states that ADA is capable of rising above $3 by December. This forecast was derived using technical analysis, the technology developed by Cardano, and a change in political outlook regarding regulations.
Technological Advancements Boosting Cardano’s Scalability
As one of the major factors supporting the bullish sentiment on ADA, Cardano has recently solved its scalability issues.
The blockchain recently hit 1M transactions per secondTPS while executing Doom on Hydra, which is its layer two solution.
This achievement shows ADA possessing the ability to scale and supports the platform’s uniqueness among various blockchain projects.
With such technological enhancements, Cardano is poised for a massive market share. The decentralization and security of Hydra to process millions of transactions are critical for Cardano price in the future.
This scalability could bring more developers and projects into Cardano’s ecosystem thus adding further demand for ADA.
Political Shift Could Favor Cardano’s Growth
Yet another aspect that forms the basis of Cardano price prediction is political shift within the United States Securities and Exchange Commission.
As argued by Gambardello, the agency has recently undergone significant changes in the leadership, with Paul Atkins, the former SEC Commissioner, as the chairman of the agency.
Atkins has been a consistent advocate of blockchain technology since its inception.
More so, his previous association with Cardano through a collaboration and a speech he made at a conference in 2020 has created a positive sentiment among investors.
According to Gambardello, this transition will provide more regulatory certainty for the crypto ecosystem, favorable for an asset such as Cardano.
A favourable regulatory environment may lead to increased participation of institutional investors thus stabilising the overall cryptocurrency market.
The potential of ADA to increase its institutional adoption is an influential factor that will dictate its price in the foreseeable months.
Technical Indicators Point to Potential Price Surge
From a technical perspective, Gambardello notes that Cardano is nearing well-defined resistance levels. This could be necessary in helping the coin to breach its record high.
Previously, Cardano has been known to swing low before it shifts up and by the current market trend it may be due for a surge.
According to Gambardello, because Cardano has played out similar movements before, it may experience a drastic increase soon.
ADA is currently trading at around $1.20, breaking past its all-time high of $3.09 would require a rally of approximately 158%.
While this kind of price movement is definitely rather bold, Gambardello is quite sure that such a scenario is possible.
This is due to Cardano’s technological advancements and the possibility of the entire market picking up.
AI Forecasts Predict ADA Price’s Long-Term Growth
Apart from the analysis by Gambardello, various other AI-based price prediction algorithms point to the possibility of Cardano attaining new multiple ATHs.
Gov Capital, a platform for Price forecasting of cryptocurrencies, predicted that Cardano may potentially go beyond the historical value and reach $3.12 in 2026.
This would mean an ROI of about 160% based on its current price of $1.21 per share.
This outlook is consistent with the overall bullish view toward Cardano’s future that has been established by Gov Capital.
Technological improvement, regulatory clarity, and robust market demand could contribute significantly to ADA’s further growth in the next few years.
However, as with all investing in cryptocurrency, there is a certain level of risk and short-term volatility is possible..
At press time, Cardano (ADA) is trading at $1.23, marking a 270% increase over the past 30 days. Despite this recent growth, ADA remains 61% below its all-time high of $3.09, leaving room for further potential gains.
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