Dan Gambardello, founder of Crypto Capital Ventures, provided a bullish analysis on the current price trend of Cardano (ADA). Crypto analysts also dispelled the following thoughts: ADA performance is poor In this bull cyclenote that the crypto token is where it should be before taking off.
Where is Cardano heading?
Gambardello mentioned in the article video He posted on his X (formerly Twitter) platform that CardanoADA could rise to $1.15, up to $1.50. then move upwards. He made this comment while emphasizing the reversal zone on the weekly chart, which was important last time. ADA breaks out.
Crypto analysts claimed that the token is once again at the lower end of this reversal zone, which happened before ADA last broke out. Meanwhile, looking at the purchase order, he revealed the following: historically There is a lot of interest and market participants at the $1.20 price level. So this is another area that could act as an “ADA magnet at the top of the reversal zone.”
The cryptocurrency analyst also sought to allay the fears of those concerned about ADA's current price trend. He said that while Bitcoin is advancing, tokens are lagging behind. New all-time high (ATH) is “historically normal” and suggested an ADA transition is imminent based on data from past cycles. Gambardello further claimed that there was no need to worry as “things are going well.”
ADA Current Price Action Description
Gambardello also elaborated on why ADA has not yet experienced parabolic movement.he hinted that 2021 Bull Run When Bitcoin Continued to reach new highs From December 2020 to January 2021, Cardano fell behind during the same period and did not make any moves until late January 2021.
He added that before ADA transitioned, it was at 80% of its ATH at the time and continued to fall even as Bitcoin skyrocketed. But that suddenly changed when “ADA went crazy upwards.” The cryptocurrency analyst went on to reaffirm his belief that ADA “certainly has some lag, but when it does eventually move, it will move very strongly.”
Gambardello had previously predicted This bullish cycle could see ADA rise to $11. At the time, he said crypto tokens had become more robust. basic things Compared to the previous bullish move.
At the time of writing, ADA has fallen over the past 24 hours and is trading at around $0.73. data From CoinMarketCap.
ADA price at $0.739 | Source: ADAUSD on Tradingview.com
Featured images from Swyftx Learn, charts from Tradingview.com
