Cardano’s (ADA) Next Move Could “Shock”, Analyst Says
The post Cardano’s (ADA) Next Move Could “Shock”, Analyst Says appeared on BitcoinEthereumNews.com.
A renowned crypto analyst has hinted that Cardano (ADA) could replicate a 2020-2021 move to peak between $5 and $10. According to him, the market is currently down by 88%, which is similar to the 92% consolidation recorded in the previous cycle before embarking on a bull run. Cardano (ADA) has been trading sideways in the past couple of days as bears threaten to seize control. However, a renowned analyst identified as Dan Gambardello has disclosed that the asset is just a “move away” from pulling a surprising breakout. Supporting his thesis, Gambardello cited a historical price behavior where the asset pegged at the $0.09 support level in October 2020. According to him, he spotted a rare bullish pattern and posted his observation around that time. Within a few months, the asset embarked on a remarkable upsurge and later hit its all-time high price of $3.10 in September 2021. This represents a whopping surge of 3,340%. Four years after this dramatic surge, the analyst has disclosed in a 14-minute video that ADA is on the verge of breaking out of a six-month consolidation pattern in a move that could replicate the 2020-2021 cycle. Throwing more light on this, Gambardello explained that altcoin season historically occurs several months after each Bitcoin halving. This implies that the post-halving consolidation is almost at the end. CARDANO’S Next Move Will SHOCK The Masses! (You Should Be Ready)Intro 00:00Is Cardano really behind? 1:05ADA more bullish this cycle 2:55$1 could come fast! 4:40A couple ADA scenarios 7:40.42 this week? 9:30Cardano dip support 11:30 pic.twitter.com/WMe03mJo8J— Dan Gambardello (@cryptorecruitr) October 6, 2024 Delving Deep into the Market Behavior of Cardano (ADA) Drawing a technical comparison between the previous cycle and the current one, Gambardello highlighted that ADA’s current decline of 88% is similar to the 92% pullback recorded in…
Filed under: News - @ October 8, 2024 10:21 pm