Cardano Dips: Is Now The Perfect Time To Buy ADA Before The Next Mega Rally? – Analyst Answers
2024年3月7日 - 8:00AM
NEWSBTC
Following a sharp decline in Cardano (ADA) value, which occurred in
tandem with Bitcoin’s withdrawal from its latest all-time high
(ATH) of $69,328, Dan Gambardello, a crypto analyst, has recently
weighed in on the implications of this pullback for the broader
bull market. Particularly Gambardello views this development
positively, suggesting it mirrors historical patterns that could
signal a strengthening market for ADA. Related Reading: Crypto
Exchange Says Cardano Price Can Reach $165, Here’s When Cardano’s
Price Action And Bull Market Indicators Dan Gambardello, a
prominent figure in crypto analysis, elaborated on ADA’s recent
price action, comparing it to the altcoin’s behavior in previous
bull cycles. He pointed out that similar pullbacks have
historically preceded significant rallies for ADA, indicating
potential for growth ahead. This analysis comes after Bitcoin
recently breached its all-time high (ATH). Gambardello labeled this
breakthrough as the opening of “bull market doors,” a term used to
describe a market condition that facilitates “parabolic spikes” in
cryptocurrency values. According to Gambardello, ADA’s current
market phase, characterized by a “break of structure,” aligns with
typical bull market patterns. Despite lagging behind Bitcoin in
surpassing previous ATHs, ADA’s market behavior is consistent with
a healthy bull market trajectory. CARDANO Price MELTDOWN! (INSANELY
Bullish ADA DATA!)https://t.co/GFefOxsJxq — Dan Gambardello
(@cryptorecruitr) March 6, 2024 ADA’s Potential For Growth and
Analyst Predictions Dan Gambardello has also recently expanded on
comparing ADA’s potential for growth and Ethereum’s historical
performance, the second-largest crypto by market cap. He suggests
that ADA is poised for a “significant breakout,” just as Ethereum
is, citing the development of decentralized finance (DeFi) projects
on both platforms as catalysts for innovation and growth. CARDANO
Bull Indicator Almost ACTIVATED! (Truth Behind ADA Price!) Intro
00:00 Cardano price concern 00:50 Is Cardano price lagging this
cycle? 1:30 Ethereum offers helpful context 2:30 Cardano is within
a normal move 8:00 Cardano bull indicator almost triggered! 9:25
pic.twitter.com/8tRlwEj8AO — Dan Gambardello (@cryptorecruitr)
March 1, 2024 Adding to the optimism, recent forecasts from crypto
exchange Changelly present a bullish long-term outlook for ADA. The
exchange predicts that ADA could surpass the $10 mark by 2030, with
expectations of continued growth leading to ADA eventually trading
over $165 by 2040 and ending the year around $600. Related Reading:
Cardano’s Price Performance In The Current Bull Run – Is ADA
Lagging Behind? Meanwhile, the asset is currently trading for
$0.70, experiencing an 8.7% dip in the past 24 hours, yet it is
still up roughly 15% over the past week. This recent increase has
elevated the asset’s market capitalization to $25.7 billion today,
with a trading volume exceeding $2 billion in the past 24 hours.
Featured image from Unsplash, Chart from TradingView
Cardano (COIN:ADAUSD)
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