Crypto analyst Dan Gambardello has analyzed Cardano (ADA) suggesting that a potential parabolic bull run could be on the horizon. Focusing on technical chart patterns and key market movements, Gambardello highlighted the pivotal stage ADA occupies. 

According to Dan, ADA is battling resistance levels amid increasing community optimism. With the upcoming Cardano Chang hard fork and critical resistance zones in focus, the next few weeks could be decisive for ADA’s price trajectory.

Gambardello’s analysis begins with an examination of ADA’s monthly chart. He highlighted the prospect of a parabolic bull run if specific criteria are met. 

He emphasizes that ADA is at a vital juncture, with the 20-month moving average dictating the next move. A breach over this crucial level could result in a large price increase, reminiscent of previous bull cycles.

Beyond the technical aspects, Gambardello also touches on the growing bullish sentiment within the Cardano community. The anticipation surrounding the Cardano Chang hard fork is notably high, as many see it as a catalyst for further decentralization and strategic partnerships. 

Moreover, ADA is currently facing a resistance zone between 40 and 45 cents. Gambardello points out that a successful breakout above this range could confirm a bullish continuation, signaling the start of a new upward trend.

Meet PandaWorld, the new meme coin currently selling at discounted presale prices! The project was inspired by the adventures of six panda siblings, utilizing their unique abilities to bring together gaming, staking, and other features.

Read also: Here’s Why Toncoin (TON) and Notcoin (NOT) Prices Are Crashing

In addition to technical analysis, Gambardello speculates on the broader regulatory environment, particularly the influence of Cardano founder Charles Hoskinson. He suggests that Hoskinson’s potential impact on U.S. crypto regulation could become more crucial. 

This is if political dynamics shift, especially if Robert F. Kennedy Jr. gains influence under Donald Trump’s administration. This regulatory aspect could add another layer of complexity to ADA’s market position.

While the analysis paints a bullish picture, Gambardello warns of the inherent risks. The resistance levels between 40 and 45 cents remain formidable, and failure to break these could lead to short-term volatility. He advises caution and patience, stressing the importance of observing price movements closely.

Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?
Get all our future calls by joining our FREE Telegram group.

The post Cardano’s Secret Catalyst: ADA Price Ready to Drop ‘Bombshell’ appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

120 +