Close Menu
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • NFTs
    • Dogecoin
    • Cardano
    • Shiba Inu
  • Analysis
    • Market analysis
    • Price Analysis
  • DeFi
  • Opinion
  • Exchanges
  • Beginners Guide
  • Press Release
  • All Posts
What's Hot

Latest Pi Network Update: New Major Exchange Listing May Enhance PI Token Value

Apr. 18, 2025

HashKey Introduces Asia’s First XRP Fund with Support from Ripple

Apr. 18, 2025

Solana Sustains Dominance in Blockchain Revenue Amid Declining Activity

Apr. 18, 2025
Facebook X (Twitter) Instagram
Tether ZoneTether Zone
Facebook X (Twitter) Instagram
Button
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • NFTs
    • Dogecoin
    • Cardano
    • Shiba Inu
  • Analysis
    • Market analysis
    • Price Analysis
  • DeFi
  • Opinion
  • Exchanges
  • Beginners Guide
  • Press Release
  • All Posts
Tether ZoneTether Zone
Home ยป Analysts Forecast Surge in ADA Cryptocurrency Price Following Cardano’s Significant Spike
Analysis

Analysts Forecast Surge in ADA Cryptocurrency Price Following Cardano’s Significant Spike

By adminNov. 7, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Telegram Tumblr Email
Analysts Forecast Surge in ADA Cryptocurrency Price Following Cardano's Significant Spike
Analysts Forecast Surge in ADA Cryptocurrency Price Following Cardano's Significant Spike
Share
Facebook Twitter LinkedIn Pinterest Email

With the cryptocurrency market making a recovery towards the end of 2023 and optimism returning to investors, Cardano (ADA) has emerged as a standout performer with strong bullish signs. Analyst Dan Gambardello, the founder of Crypto Capital Venture, believes that the “Cardano Bulls” may have ignited an impressive rally.

Gambardello’s analysis of ADA’s recent price movements highlights a series of technical and fundamental events that suggest a promising future. One of the key indicators of a potential uptrend is ADA’s weekly close above the 50-week exponential moving average (EMA), which hasn’t been seen since the beginning of spring in 2023.

This breakthrough is not just a mere chart movement, but according to Gambardello, it signifies a shift in market sentiment on a larger scale. Cardano has a strong foundation, thanks to features like staking, the multi-asset ledger introduced by the Mary hard fork, and upgrades such as Alonzo smart contracts. These improvements have created a more robust and capable ecosystem compared to previous cycles.

Examining the 6-hour chart, Gambardello points out a bullish divergence in the Relative Strength Index (RSI), where ADA shows a higher peak in RSI despite a lower price. This indicates momentum that dates back to the last time the cryptocurrency surpassed the 50-week EMA resistance.

Although the daily chart suggests that ADA is overbought, which typically precedes a consolidation phase, Gambardello doesn’t dismiss the possibility of reaching a peak of 45 cents. However, he believes that a significant pullback could occur before reaching that level. He identifies the 20-day and 200-day EMAs and Fibonacci retracement levels as crucial support areas.

In conclusion, Gambardello emphasizes the growth of the DeFi space on Cardano and the increase in developer activity as factors that contribute to the bullish sentiment in the market. He predicts a gradual climb for ADA, acknowledging that while the bulls may be in control, achieving new highs will require patience and careful attention to market volatilities.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.

Editor’s Choice: No related posts.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Price Falls Below $85K Again as TAO and FET Experience Increases

Apr. 18, 2025

Jerome Powell Acknowledges Potential Easing of Cryptocurrency Banking Regulations in the United States

Apr. 16, 2025

Trump Suggests Potential New Tariffs on Semiconductors and Pharmaceuticals, US Futures Decline

Apr. 15, 2025

Bitcoin Price Update for April 15, 2025: BTC Nears $86,000, Fartcoin Highlighted

Apr. 15, 2025

Bitcoin Price Update for April 14, 2025: BTC Seeks to Surpass $85K as Mantra (OM) Experiences a 95% Decline

Apr. 14, 2025

Bitcoin Price Update for May 4, 2025: BTC Retraces to $82 Following a Week of Significant Volatility

Apr. 5, 2025
Leave A Reply Cancel Reply

Top Posts

Is Binance Exchange a Trustworthy and Secure Investment Option?

Sep. 21, 2021

Review of Kraken Exchange: Can It Be Trusted and Considered a Secure Investment Option?

Sep. 26, 2021

Huobi Global Exchange: A Comprehensive Assessment of Reliability and Safety for Investors

Sep. 26, 2021
Don't Miss

Latest Pi Network Update: New Major Exchange Listing May Enhance PI Token Value

Apr. 18, 2025

Blockchain-based logistics platform Pailot is in the process of being integrated into the Pi Network…

HashKey Introduces Asia’s First XRP Fund with Support from Ripple

Apr. 18, 2025

Solana Sustains Dominance in Blockchain Revenue Amid Declining Activity

Apr. 18, 2025

Bitcoin Price Falls Below $85K Again as TAO and FET Experience Increases

Apr. 18, 2025
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Most Popular

Flokis 28 Surge Could CYBRO Be the Next Promising Token

Jun. 5, 2024

SEC Gives Green Light to Ethereum ETFs; Bonk Tokens Skyrocket; Traders Bullish on Promising AI Cryptocurrency

May. 28, 2024

Fidelity Updates Ether ETF Filing and Announces Initial Capital of 47 Million

Jun. 21, 2024
Our Picks

Latest Pi Network Update: New Major Exchange Listing May Enhance PI Token Value

Apr. 18, 2025

HashKey Introduces Asia’s First XRP Fund with Support from Ripple

Apr. 18, 2025

Solana Sustains Dominance in Blockchain Revenue Amid Declining Activity

Apr. 18, 2025
Tether Zone
Facebook X (Twitter) Instagram Pinterest YouTube Dribbble
  • Home
  • News
  • Analysis
  • DeFi
  • Opinion
  • Press Release
© 2025 Tether Zone All rights reserved.

Type above and press Enter to search. Press Esc to cancel.