Cardano (ADA) could rise more than 1,000 percent and recover to its record-high level if it reproduces a past uptrend pattern, a projection showed.

Blockchain outlet The Crypto Basic reported on Oct. 9 that Jordan, an analyst at Trading Bureau, picked ADA in a recent analysis as a promising name to lead an altcoin season on TradingView.

Jordan focused on a precedent in which Cardano’s price surged after a long development period. He said the current sideways move resembles a pattern that appeared ahead of a sharp rise in the past, calling it an attractive zone in terms of expected return relative to risk. He also presented upside targets using Fibonacci extension zones but did not mention a specific timeline.

He also cited technology, community and ongoing development as the basis for a bullish view. He said the Cardano ecosystem is already established and that steady community activity and development could underpin long-term growth.

He also positively assessed its distribution structure and market position. At the time of the analysis, Cardano’s market value was about $10 billion, and about 80 percent of the maximum supply of 45 billion ADA was in circulation. Jordan said that market base could work in Cardano’s favor when investment flows into altcoins in the next bull market.

In recent price action, rebounds and pullbacks have alternated. Daily ADA was $0.2398, down 5.45 percent on the day, but up 8.5 percent from a month earlier. After rising from a June low of $0.1378 to as high as $0.28 at one point during that week, it has given back part of the gains.

The key ahead is breaking through major resistance and sustaining buying interest. The market is showing expectations that ADA can recover $1 and again challenge its 2021 all-time high. Given that ADA is currently around $0.24, a surge to $3.10 would imply a gain of about 1,192 percent.

That calculation, however, assumes a return to the past peak. Jordan said ADA must maintain strong buying pressure even after breaking key resistance, and that if those conditions are met it could become a leading candidate for the next altcoin season.

The key point in this outlook is that it cited Cardano’s development continuity, ecosystem and distribution structure alongside a simple price forecast. It is read as an example of considering both price charts and network fundamentals when selecting candidates for an altcoin season.