Cardano (ADA) is poised for an imminent upward parabolic surge, according to a crypto analyst who has identified promising indicators. This prediction aligns with recent forecasts, indicating ongoing positive momentum for ADA amid its resurgence in the crypto market.
Secrets Behind Ada’s Anticipated Potential Surging
Dan Gambardello, founder of Crypto Capital Venture, highlighted on his X (formerly Twitter) platform that the order book level serves as a key indicator for an impending ADA rally. He pointed out that the current order book level on the charts is presenting itself as a resistance zone.
Highlighting the significance, he drew parallels with a 2020 pattern before ADA’s breakout, emphasizing a shift in structure and character. Despite similarities, the crypto analyst observed a faster trajectory toward ADA’s “bull market doors,” months ahead of the Bitcoin Halving.
Gambardello, who had anticipated the return of the bull run post-Bitcoin Halving, previously forecasted ADA reaching $11. In his recent video, he referenced Bitcoin, noting its November 2020 bull market doors coinciding with a break above the Fibonacci level.
While the analyst suggests a non-linear path to ADA’s bull market doors, he anticipates a notable retracement before an upward structural shift. Drawing parallels to 2020, he highlights ADA’s current overbought state, akin to the period preceding the previous breakthrough.
Additional Signs Pointing to Cardano’s Imminent Ascension
Gambardello also discussed signal and overlays as the second indicator, emphasizing a smart trail on the ADA chart. This trail, divided into a bullish blue line indicating an uptrend and a bearish red line, signals the impending return of the bull market.
The red line persisted during the bear market, but the blue line has recently activated on the ADA weekly chart, signifying, according to Gambardello, that the token is approaching the bull market doors. Notably, this coincided with the timing of the last Bitcoin Halving.
The final highlighted indicator by the crypto analyst is the ‘trend catcher,’ known for identifying early trends and indicating an impending upward market movement. Gambardello pointed out its visibility throughout the last bull market.
As of the current moment, ADA is trading around $0.62, as per CoinMarketCap data.
