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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Cardano Dips: Is Now The Perfect Time To Buy ADA Before The Next Mega Rally? – Analyst Answers

Samuel Edyme
Samuel Edyme
1 year ago
2 mins read
Cardano (ADA)

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Following a sharp decline in Cardano (ADA) value, which occurred in tandem with Bitcoin’s withdrawal from its latest all-time high (ATH) of $69,328, Dan Gambardello, a crypto analyst, has recently weighed in on the implications of this pullback for the broader bull market.

Particularly Gambardello views this development positively, suggesting it mirrors historical patterns that could signal a strengthening market for ADA.

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Cardano

Crypto Exchange Says Cardano Price Can Reach $165, Here’s When

1 year ago

Cardano’s Price Action And Bull Market Indicators

Dan Gambardello, a prominent figure in crypto analysis, elaborated on ADA’s recent price action, comparing it to the altcoin’s behavior in previous bull cycles.

He pointed out that similar pullbacks have historically preceded significant rallies for ADA, indicating potential for growth ahead.

This analysis comes after Bitcoin recently breached its all-time high (ATH). Gambardello labeled this breakthrough as the opening of “bull market doors,” a term used to describe a market condition that facilitates “parabolic spikes” in cryptocurrency values.

According to Gambardello, ADA’s current market phase, characterized by a “break of structure,” aligns with typical bull market patterns. Despite lagging behind Bitcoin in surpassing previous ATHs, ADA’s market behavior is consistent with a healthy bull market trajectory.

CARDANO Price MELTDOWN! (INSANELY Bullish ADA DATA!)https://t.co/GFefOxsJxq

— Dan Gambardello (@cryptorecruitr) March 6, 2024

ADA’s Potential For Growth and Analyst Predictions

Dan Gambardello has also recently expanded on comparing ADA’s potential for growth and Ethereum’s historical performance, the second-largest crypto by market cap.

He suggests that ADA is poised for a “significant breakout,” just as Ethereum is, citing the development of decentralized finance (DeFi) projects on both platforms as catalysts for innovation and growth.

CARDANO Bull Indicator Almost ACTIVATED! (Truth Behind ADA Price!)

Intro 00:00
Cardano price concern 00:50
Is Cardano price lagging this cycle? 1:30
Ethereum offers helpful context 2:30
Cardano is within a normal move 8:00
Cardano bull indicator almost triggered! 9:25 pic.twitter.com/8tRlwEj8AO

— Dan Gambardello (@cryptorecruitr) March 1, 2024

Adding to the optimism, recent forecasts from crypto exchange Changelly present a bullish long-term outlook for ADA. The exchange predicts that ADA could surpass the $10 mark by 2030, with expectations of continued growth leading to ADA eventually trading over $165 by 2040 and ending the year around $600.

Related Reading

Cardano (ADA)

Cardano’s Price Performance In The Current Bull Run – Is ADA Lagging Behind?

1 year ago

Meanwhile, the asset is currently trading for $0.70, experiencing an 8.7% dip in the past 24 hours, yet it is still up roughly 15% over the past week. This recent increase has elevated the asset’s market capitalization to $25.7 billion today, with a trading volume exceeding $2 billion in the past 24 hours.

Cardano (ADA) price chart on TradingView
ADA price is moving sideways on the 4-hour chart. Source: ADA/USDT on TradingView.com

Featured image from Unsplash, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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