Crypto analyst and influencer Dan Gambardello recently shared his thoughts on Cardano’s (ADA) potential for a breakout in his latest YouTube video. Gambardello, who is known for his support of Cardano, explained that his belief in the project’s fundamentals and technological developments is the reason for his excitement. He also pointed out various bullish signs on ADA’s charts.
One of the indicators that Gambardello highlighted is Cardano’s Total Value Locked (TVL), which continues to climb. He believes that although the bull market may not be here yet, the TVL’s upward trend is a sign that it is fast approaching.
From a technical perspective, Gambardello pointed out the inverse head and shoulders pattern on ADA’s daily chart, which could be an extremely bullish sign for the Ethereum-killer. He also noted that ADA is moving closer to the 50-week moving average on the weekly chart, and a breakout above this level by the end of the week could be key in determining what ADA’s price could do next.
Gambardello’s excitement about Cardano’s potential is also fueled by the fact that billionaire investor Mark Cuban has admitted to being an investor and advisor in Cardano. This comes just eight months after Cuban stated in a video that he saw no potential in the project.
Although things could still go both ways for the altcoin, Gambardello holds firm in his belief that ADA is primed for a move up soon. At the time of writing, ADA is trading at $0.4392 after a 9.10% price increase over the last day, according to CoinMarketCap.
It is important to note that the views and opinions expressed in this price analysis are published in good faith, and readers must do their own research and due diligence before taking any action. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
In conclusion, with Mark Cuban’s support and Gambardello’s bullish analysis, Cardano’s potential for a breakout is certainly worth keeping an eye on. As always, it is important to approach any investment with caution and to do your own research before making any decisions.