Cardano (ADA) Price Ready to Drop 'Bombshell' as Secret Catalyst Emerges
- 王林Original
- 2024-08-25 21:41:121103browse
Crypto analyst Dan Gambardello has analyzed Cardano (ADA) suggesting that a potential parabolic bull run could be on the horizon.
Crypto analyst Dan Gambardello has recently shared his thoughts on the upcoming Cardano (ADA) price movements. According to Gambardello, ADA is currently battling pivotal resistance levels, setting the stage for a potential parabolic bull run.
In his latest YouTube video, the analyst begins his ADA analysis by examining its monthly chart. He highlights the possibility of a parabolic bull run if certain criteria are met.
“This is the ADA monthly, and what we’re looking at here is the 20-month moving average. Now, if ADA manages to close above this 20-month moving average on the monthly, what tends to happen is you get these parabolic bull runs, like we saw in 2021.”
Next, Gambardello points out a crucial level of support forming at around 25 cents. According to him, ADA bulls managed to defend this zone during the recent bear market.
“We also have this pivotal level of support down here at 25 cents, which held during the recent bear market. If you look at the wick on the monthly candle, it touched right on this 25-cent level.”
Later on, the analyst shifts his focus to ADA’s upcoming Chang hard fork, which is also attracting attention within the community. According to Gambardello, the hard fork is pivotal for further decentralization.
“The community is also waiting for the upcoming Cardano Chang hard fork, which is critical for further decentralization and strategic partnerships. Additionally, ADA is currently facing a resistance zone between 40 and 45 cents.”
Finally, Gambardello touches upon speculation regarding U.S. crypto regulation and Cardano founder Charles Hoskinson’s role in it. According to him, the dynamics could become interesting.
“There’s a lot of speculation about U.S. crypto regulation, especially with Charles Hoskinson being so vocal about it. If the political dynamics change, like if Robert F. Kennedy Jr. gains influence under the Donald Trump administration, this regulatory aspect could add another layer of complexity to ADA’s market position.”
The analyst also warns viewers of the importance of exercising caution and patience, especially when observing price movements at pivotal resistance levels like these. According to Gambardello, if ADA fails to break through these levels, we could see some short-term volatility.
“I’m sure you get the gist of it. Keep in mind that these are pivotal resistance levels, and failure to break through them could lead to short-term volatility. Observe the price movements closely and observe how ADA interacts with these key levels.”
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