The Cardano (ADA) price looks poised to pump back to its December highs in the low $1.30s, with chart analysis painting a bullish picture for ADA’s near-term outlook.

Could this be the start of a new pump that could take ADA as high as $7.80?

ADA was last changing hands around $1.10, having pumped over $0.25 or over 30% since the start of the year.

That pump saw the Cardano price break to the north of a downtrend in play since early December, as well as back above its 21 and 50DMAs, suggestive that the bulls have retaken control of the market.

Over the last few days, the ADA rally has stalled, with the Cardano price forming a range in the $1.056-$1.118 area.

But with Bitcoin (BTC) having broken back above $100,000 and seemingly carrying strong momentum, the mood in the broader crypto market looks set to remain positive ahead of the arrival of the incoming Trump administration in two weeks.