Big Cardano Rumor: ADA Chart “Never Looked This Good,” Analyst Says

Cardano (ADA) is stirring up excitement as several positive developments come together, pointing to strong growth in its ecosystem and potential price gains.

They include rumors about a top-tier stablecoin joining the network, new partnerships, and growing ETF interest. Cardano permabull Dan Gambardello several converging factors that may drive the next major breakout, describing ADA’s technical structure as the strongest it has looked in years.

One of the most awaited moves for Cardano is the arrival of a top-tier stablecoin. Recent reports say Cardano leaders, including Charles Hoskinson, met privately with people from a leading stablecoin project to discuss working together.

Stablecoins play a key role in crypto by offering liquidity and stability, making trading and DeFi easier. Cardano has been waiting for a major stablecoin like USDT and USDC to join its ecosystem for years. Experts expect announcements about this partnership in the coming weeks or months. The outcome will fill an important gap in Cardano’s infrastructure.

Adding to the positive news, Google Cloud has joined the Cardano network by partnering with Midnight to run a validator node. This partnership isn’t just about supporting transactions. Google Cloud will also hold Cardano ecosystem tokens like NIGHT.

This move boosts Cardano’s credibility and strengthens its network with support from one of the world’s top cloud providers.

Cardano’s presence in exchange-traded funds (ETFs) is growing, with several ADA-focused products gaining popularity on big exchanges.

Established ETFs, such as 21Shares on NASDAQ and the Grayscale Digital Large Cap Fund, are performing well. Meanwhile, new ETFs, including the Grayscale Cardano Spot ETF and Tuttle Capital’s 2X Cardano leveraged ETF, are in development.

These funds make it easier for both big institutions and regular investors to buy ADA, bringing more money and trading activity to Cardano.

Technically, Gambardello noted that Cardano shows strong positive trends on a long-term scale. The monthly Relative Strength Index (RSI) points to an uptrend with higher highs and lows, suggesting future price gains.

But in the short term, ADA faces resistance around $0.86, near important moving averages. A break above this level could push the price to $1.20 or higher.

However, amid the ongoing bull run, Gambardello stressed that the market has often seen false breakouts. Accordingly, he urged traders to observe for clear signs before jumping in to avoid quick pullbacks.

Ultimately, Gambardello believes Cardano is in a promising spot. Combining a potential tier-one stablecoin, important partnerships like Google Cloud, and growing ETF options. Together with strong technical signals, ADA’s future looks bright.