Market analyst and founder of Crypto #capital Venture, Dam Gambardello, has bet that Cardano will hit a six-month high by the end of October.
On the back of Cardano's rebound, analyst Dam Gambardello believes that $ADA
is on track to break the $0.5 price target. For reference, Cardano has jumped more than 3% in the past 24 hours after holding major support at $0.33, reigniting optimism among #investors .
The rebound from support defied the previous #BEARISHđ analysis of a prominent market commentator. Analyst Siyamakbayrami argued that Cardano would test the $0.22 to $0.26 price range if the $0.33 demand zone did not hold.
With a rebound, Gambardello said, Cardano would maintain its bullish trend and grow to $0.5 by the end of this month, with only 19 days left until the October close.
Given Cardano's recent price performance, this jump seems difficult. Additionally, the recent broader market volatility has raised doubts among some market participants.
In another statement, Gambardello referred to the crowded #ADA/BTC chart and said that all indicators point to explosive growth. He also noted that ADA will test the 50-day moving average near $0.57, and if successful, the asset will rise 1,000% to $3,553.
