Crypto Expert Analyzes ADA Price; Token Shows Bullish Trends

Last Updated:
Crypto Expert Analyzes ADA Price; Token Shows Bullish Trends
  • Cardano analyst Gambardello predicts some bullish signals for ADA.
  • He analyzed ADA with 6-hour, weekly, and intraday trading charts.
  • He points out that ADA had a great uptrend in November 2020.

Founder of Crypto Capital Venture and crypto analyst Dan Gambardello remarked that the ADA holders are very patient as the coin leaves everyone guessing its price.

Alongside the Twitter post, Gambardello analyzes the ADA price on his YouTube channel, where he relies on the weekly, intraday, and 6-hour trading charts of the coin.

Initially, the analyst predicts the trading chart of the coin as “maybe scary,” but after the price analysis, he opined that this might not be the case.

In the 6-hour equity trading chart, he signified S&P 500 (Standard and Poor’s) stock market index tracking, which has been trading from a 20-week moving average to a 50-week moving average.

He points out that this pattern resembles the one that happened to the equity market between 2008 and 2009. As the crypto market follows the traditional market, he is more concerned about the ADA price.

Gambardello reviews the slight uptrend pattern on the weekly trading chart of ADA and switches on to the daily chart, which, according to him, indicates another explosive uptrend.

Moreover, he focuses on the uptrend line of ADA, which started from the second week of July 2022, in the 6-hour chart.

Adding on, Gambardello also predicts if ADA could retrace the $0.57- $0.58 range, which occurred on August 14, and break this range for a further uptrend.

In the weekly trading chart, he depicts that ADA was moving back above the 200 moving average range in the past week. Meanwhile, the daily trading chart of the coin gives a 12% consolidation during the past few days. Gambardello says that ADA has been going through frequent consolidation levels, testing the traders’ patience.

With these predictions, the Twitter audience made bullish comments on Cardano’s price. Also, the analyst before tweeted about the coin, saying, “If you are still here, one thing is for sure, you are persistent!”

Apart from Gambardello’s prediction on ADA’s 6-hour trading chart, the 4-hour trading chart also shows a bullish trend for the coin.

At press time, ADA has been trading at $0.5673, with a 2.25% surge in the past 24 hours. Moreover, in the past day, the price of ADA dipped to $0.54 after Charles Hoskinson conducted a live stream to talk about the Vasil Hard Fork launch. He stressed that the Vasil upgrade will not be further delayed.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.