Cardano Price About To Explode: Crypto Pundit Reveals Next Target
12 March 2024 - 9:00AM
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Dan Gambardello, the founder of Crypto Capital Venture, has
provided a bullish analysis of the current price action of Cardano
(ADA). The crypto analyst also dispelled the notion that ADA won’t
perform well in this bull cycle, noting that the crypto token is
where it is meant to be before it takes off. Where Cardano Is
Headed Gambardello mentioned in a video posted on his X (formerly
Twitter) platform that CardanoADA could rise to $1.15 and as high
as $1.50 in its next move to the upside. He made this statement
while highlighting a reversal zone on the weekly chart, which was
critical the last time ADA made a breakout. Related Reading:
Crypto Whales Bet Big On LINK – Is Chainlink The Next Bitcoin? The
crypto analyst claimed that the token is again at the lower end of
this reversal zone, which happened before ADA broke out the last
time. Meanwhile, looking at the order book, he revealed that there
is historically a lot of interest and market participants at the
$1.20 price level. As such, it is another area that could act as a
“magnet for ADA at the upper end of the reversal zone.” The crypto
analyst also tried to allay the fears of those worried about ADA’s
current price action. He stated that the token lagging while
Bitcoin is hitting new all-time highs (ATHs) is “historically
normal” and suggested that a move was imminent for ADA based on
data from past cycles. Gambardello further asserted that “things
are on pace,” so there is no need to be worried. An
Explanation For ADA’s Current Price Action Gambardello also
elaborated on why ADA has yet to experience any parabolic move. He
alluded to the 2021 bull run when Bitcoin kept hitting new highs
between December 2020 and January 2021, while Cardano lept lagging
during this same period and didn’t make any move until later in
January 2021. Related Reading: Crypto Expert Says Dogecoin,
Shiba Inu, PEPE, Others Are About To Explode He added that ADA was
80% from its ATH back then before it made its move and even kept
declining while Bitcoin was on a surge. However, that changed all
of a sudden as “ADA went crazy to the upside.” The crypto analyst
went on to reaffirm his belief that ADA “does lag, but when it
finally moves, it really moves very strongly.” Gambardello had
previously predicted that ADA could rise to as high as $11 in this
bull cycle. Back then, he noted that the crypto token now has more
robust fundamentals compared to the last bull run. At the
time of writing, ADA is trading at around $0.73, down in the last
24 hours, according to data from CoinMarketCap. ADA price at
$0.739 | Source: ADAUSD on Tradingview.com Featured image from
Swyftx Learn, chart from Tradingview.com
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