Renowned commodities trader Peter Brandt , previously a Cardano (ADA) critic, has revised his stance, asserting that the cryptocurrency may have reached its price floor. Brandt’s updated analysis points to the possibility of a sustained upward trend, sparking optimism within the Cardano community. The asset recently demonstrated strong recovery momentum, bouncing back from a dip earlier in the week. After reaching a low of $0.8758 on January 13, the token has regained the $1 mark and is now trading at approximately $1.06. This marks a significant rebound positioning the altcoin for potentially continued growth. Alt season???? Make no doubt about it, Cardano $ADAUSD has bottomed for a grand bull market Blue check mark only so no rude trolls pic.twitter.com/Xn33Twot47 — Peter Brandt (@PeterLBrandt) January 16, 2025 Brandt Identifies Market Bottom Brandt’s new perspective is grounded in technical analysis. He identified a double bottom pattern in ADA’s price movements, which he believes indicates the start of a bullish reversal. According to his analysis, the base of this pattern formed between December 2022 and October 2024. The recent price breakout, which began in late 2024, aligns with this technical formation. The cryptocurrency faced challenges following the widespread market disruptions triggered by the Terra collapse in May 2022. However, Cardano recovered from its decline, surpassing the $0.8104 resistance level. It has since converted this level into a support zone and consolidates above it. Brandt emphasized the significance of this retest zone, suggesting it could serve as a foundation for future gains. Further supporting the bullish outlook, indicators such as the Average Directional Index (ADX) show a strong upward trend, with a reading of 36.76. Additionally, the 8-day and 18-day moving averages, alongside the Relative Strength Index (RSI), confirm the ongoing upward momentum in ADA’s market performance. Past Skepticism and Current Optimism Just a month ago, Brandt held a bearish view on Cardano, citing a head-and-shoulders pattern that hinted at further declines. At the time, ADA had dropped below $1 and was trading at $0.9271. However, the altcoin’s recent breakout invalidated the bearish patterns Brandt previously identified, prompting a reassessment of his outlook. Brandt’s shift in perspective has raised attention, as he now anticipates significant price gains for the asset in the months ahead. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Broader Market Analysis Other analysts have echoed Brandt’s optimism. Market commentator Maxpain highlighted ADA’s steady price movement within the $0.874 to $1.327 range since December 19, with consistently higher lows indicating accumulating bullish pressure. He identified the $0.829 to $0.879 zone as a key demand area, noting it as an attractive entry point for buyers. Price targets suggested by analysts include $1.10, $1.32, and $1.60, reflecting confidence in the token’s potential for sustained growth. Recent market data from Ali Martinez revealed heightened activity among large holders, with over 100 million ADA tokens purchased within 48 hours. Dan Gambardello, a prominent Cardano supporter, also emphasized the altcoin’s strong performance in 2025, drawing comparisons to XRP and praising its resilience against competing narratives. Cardano’s recent performance, supported by technical indicators and heightened investor interest, signals a potential shift in market sentiment. Brandt’s newfound bullish stance and similar predictions from other analysts suggest that ADA could be poised for substantial gains. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Veteran Trader Peter Brandt Says Cardano (ADA) Has Bottomed for a Grand Bull Market appeared first on Times Tabloid .
