Over the past few months, Cardano (ADA) has exhibited an extended declining tendency. Crypto analyst Dan Gambardello has analyzed Cardanos’s behavior and speculates that a price change might be imminent. 

In a  YouTube video, Gambardello analyzes the technical indicators and market conditions surrounding ADA. He hints that a breakout might be closer than expected. 

Despite market challenges, he outlines potential bullish scenarios for ADA, which could shock many in the crypto space.

Gambardello begins by noting that Cardano has endured 180 days of downward movement, in line with the broader crypto market. This extended decline has raised concerns among traders, but Gambardello suggests that ADA could be approaching a pivotal moment. 

He uses weekly indicators to support his claim, stating that technical patterns may point to a possible reversal. Furthermore, underlined in the video is the value of Cardano’s ecosystem, which has kept growing even with a declining market. 

According to Gambardello, staking systems, smart contracts, and distributed governance expansion will help ADA be positioned for a robust comeback when the market recovers.

One of the key aspects of Gambardello’s analysis is the MACD oscillator, which he highlights as a potential indicator of an upward move. He explains that Cardano’s current technical setup resembles previous cycles where ADA saw gains. 

While these indicators provide optimism, the analyst advises caution, stressing the importance of waiting for confirmation before jumping into the market. Gambardello identifies the 45-cent resistance level as a crucial point for ADA’s price movement.

Breaking this level could open the door for more substantial gains, but failure to do so might result in further consolidation.

Doge2014 raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Read also: Why Is SUI Price Up? This Trader Makes Bold SUI Price Prediction

Gambardello also draws comparisons between Cardano’s current situation and its previous cycles. He notes that ADA saw a 98% decline before rallying in the last bull market, delivering an 18,000% return from its lows. 

Although past performance cannot be guaranteed, previous data offers an understanding of the possible volatility and opportunity in ADA’s price movement. The expert keeps a positive long-term perspective even with a gloomy short-term prediction. Cardano’s foundations, in his opinion, are sufficient to propel next development.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

The post Will Cardano Break Out? ADA Price Move Will ‘Shock’ Crypto Traders appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

127 +