- Analyst Dan Gambardello argued that ADA’s signal for a rocket launch is now activated.
- ADA has grown 14.59% within the last 24 hours to a high of $0.761.
- Should Cardano continue the bullish trajectory, Gambardello sets a short-term target of $1.5.
Prominent pro-Cardano analyst Dan Gambardello has argued that ADA’s ultimate signal for a rocket launch into unprecedented high has been activated. Gambardello made this bold proclamation in a recent analysis of the Cardano market chart, noting the asset has established a pattern reminiscent of its pre-bull run pattern of 2020.
ADA has grown explosively within the last 24 hours from a low of $0.6641 to as high as $0.761. This trajectory reflects a 14.59% gain as market participants exchanged over $1,318,677,166 of ADA in the last 24 hours. Moreover, this 24-hour gain has put Cardano’s one-week performance at a significant 25% growth from $0.5854.
Amid this commendable performance, renowned Cardano analyst Dan Gambardello suggests ADA could be getting set for an all-time high. He pointed to a technical indicator, noting similarities between ADA’s current trajectory on the weekly chart and that of December 2020.
In yesterday’s analysis, Gambardello highlighted a bullish structure observed in late 2020, which reappeared after a recent ADA price surge. However, he observed that the bullish trend faded as ADA’s price retreated.
Gambardello outlined two conditions for the structure to reappear, one of which involved the asset showing an upward move. The analyst believes such an upward move could serve as the ultimate signal for the much-anticipated Cardano rally toward a new all-time high.
Interestingly, in the current analysis, Gambardello expressed satisfaction that the bullish structure has resurfaced once more, and this time, it appears to be more enduring as ADA has maintained a price above the $0.74 threshold.
According to Gambardello, should Cardano and the broader market continue the bullish trajectory, a short-term target for ADA is around $1.5.
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