Dan Gambardello, the person who started Crypto Capital Venture, says that the drop in the price of Cardano and other cryptocurrencies is actually a good thing for them. Gambardello looked at a chart to see how the value of cryptocurrency is going up.
Early CARDANO Bull Market (One Thing MUST Happen)
This dip is most bullish thing 00:40
ADA bull market doors 1:10
How much lower 2:45
Clues on Cardano daily 3:00
Early ADA bull trigger 6:50
Cardano structure now or later? 8:00
Most important point 9:00 pic.twitter.com/nHsVEVolDa
— Dan Gambardello (@cryptorecruitr) January 27, 2024
Dan Gambardello tweeted on January 27, 2024.
In a new video, Gambardello showed that ADA did the same thing in 2020 that it did after the Bitcoin halving. He showed how ADA went up, then went down, and then went up even more. The expert said that ADA’s price went up at the same time as Bitcoin’s price went up.
Gambardello said he expects the changes that happened in 2020 to start soon.He showed that the price of ADA (a type of digital currency) in US dollars started going down, just like it did in the last cycle. He looked at the chart for ADA/USD and saw that the price was still going up.
At the same time, the well-known analyst used old information to explain that ADA’s current situation could lead to a short increase in the 50-day moving average area. He thinks ADA will go down because the resistance is strong, and the 50-day moving average is higher than the 20-day moving average on the daily chart.
Cardano’s price pattern is similar to the one before it went up in 2020, but it’s happening earlier than expected. Cardano’s price went up a lot in 2020 after the Bitcoin halving event. This time, there are a few months left until the next Bitcoin halving, but it looks like the price is going up.
The crypto expert said that if Bitcoin goes up a lot soon, it could make Cardano go up too. He believes that if Bitcoin keeps going up from its current price, it could also make the rest of the crypto market go up with it. So, the Cardano rally in the near future might turn into a stronger uptrend if it goes above the 50-day moving average.
Warning: The details in this article are only for learning and understanding, not for any other purposes. The article does not give any financial advice or any other type of advice.