Cardano Critic Brandt Flips Bullish, Suggests ADA Has Now Bottomed for a ‘Grand Bull Market’
Peter Brandt, a long-term Cardano critic, suggests the altcoin has now bottomed out and could be on the cusp of a price surge.
Cardano (ADA) has witnessed a sharp recovery from its Monday lows. After dropping to $0.8758 on Monday, Jan. 13, ADA has reclaimed the $1 level, currently trading at $1.097, as it records an impressive 24% rebound in just three days.
Brandt: Cardano Has Bottomed
Amid this recovery, veteran commodities trader Peter Brandt, previously a vocal skeptic of Cardano, has surprised the community with his newfound optimism. Interestingly, he recently suggested that ADA has established a bottom and could be on the cusp of a “grand bull market.”
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’s accompanying chart, which shows the reason behind this bullish outlook, highlights a double bottom base pattern that Cardano formed between December 2022 and October 2024. Notably, this formation signals a reversal and a potential bullish breakout.
ADA slipped toward the base following the Terra implosion of May 2022, which triggered a contagion in the crypto market. Data from the chart shows that, following this base, Cardano broke out of a brief consolidation pattern in November 2024 when it soared on the back of the Donald Trump victory.
Cardano quickly surged past the $0.81040 resistance zone, flipped it into support, and is now consolidating above it. According to the chart, this level serves as an important retest zone.
Meanwhile, the Average Directional Index (ADX), standing at 36.76, shows a strong directional trend. The rising moving averages (8-day and 18-day) and the Relative Strength Index (RSI) confirm the ongoing bullish momentum in the Cardano market.
Previous Criticism
Interestingly, just a month ago, Brandt was bearish on Cardano, referring to it as a potential “car crash.” This skepticism came from a head-and-shoulders pattern he identified on ADA’s daily chart, which he believed indicated further declines.
Cardano Head and Shoulders | Peter Brandt
At that time, Cardano was trading at $0.9271, having fallen below $1. Despite this bearish outlook, Brandt’s perspective has now shifted as ADA broke through major levels and invalidated bearish patterns. His current bullish stance suggests that Cardano may aim for massive gains in the coming months.
Analysts Bullish on Cardano
Other market analysts share Brandt’s optimism. Pseudonymous market watcher Maxpain recently noted that ADA had been trading within a range of $0.874 and $1.327. He highlighted consistent higher lows since December 19, which signaled building bullish momentum.
$ADA Price Analysis:
– rangebound b/w $0.874 & $1.327
– consistent higher lows after Dec 19 swing low = bullish
– a dip into $0.829 to $0.879 demand zone = good place to buy from technical standpoint
– targets: $1.10, $1.32 & $1.60 pic.twitter.com/vfLR40Mhkp
— MAXPAIN (@Mangyek0) January 11, 2025
He also identified the $0.829 to $0.879 zone as a strong demand area, marking it as a favorable accumulation point. The analyst’s price targets for ADA include $1.10, $1.32, and $1.60.
Additionally, The Crypto Basic disclosed yesterday that Ali Martinez had observed massive whale activity over the past few days. According to him, large holders acquired 100 million ADA tokens within 48 hours.
Meanwhile, Dan Gambardello, a Cardano bull, recently called attention to ADA’s strong 2025 performance, comparing it to XRP and noting its resilience against competing narratives from venture-capital-backed projects. Notably, Cardano is up 12.35% this week and 28.6% in 2025.
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