ADA Set for a Significant Surge: Crypto Analyst Identifies Key Indicators

Cardano (ADA) is set for a significant upsurge soon, according to a crypto analyst who has identified indicators supporting this projection.

This prediction aligns with other recent forecasts focused on ADA, highlighting the ongoing resurgence of the cryptocurrency token.

ADA Rally: What are the Indicators?

Dan Gambardello, the founder of Crypto Capital Venture, has highlighted the potential for a substantial rally in ADA’s price. He gave the highlight in a video shared on his X (formerly Twitter) account.

Gambardello pointed to the order book level as a key indicator for an upcoming ADA rally. He emphasises its current role as a resistance area on the charts.

Drawing parallels with a pattern observed in 2020 just before ADA’s breakout, Gambardello highlighted the significance of the order book level. He also noted similarities in the potential for a change of structure and character.

Interestingly, he pointed out that ADA’s trajectory toward the “bull market doors” appears to be faster this time, months ahead of the Bitcoin Halving event.

Gambardello had previously hinted at the return of a bull run following the Bitcoin Halving. He predicted ADA’s potential rise to $11. In his latest video, he continued referencing Bitcoin, highlighting the timing of its bull market doors in November 2020, aligning with the breaking of the Fibonacci level.

While expressing optimism about ADA’s upward momentum, the crypto analyst cautioned that the journey to the bull market doors might take more work. He suggested the likelihood of a significant retracement before the anticipated upward structural break.

Notably, Gambardello pointed out the current overbought condition of ADA, similar to the situation preceding the breakout observed in 2020.

Additional Signs Pointing to Cardano’s Impending Surge

In his analysis, Gambardello introduced a second key indicator related to signals and overlays on the ADA chart. He specifically emphasised a smart trail in the ADA chart, comprised of a blue line indicating an uptrend and a red line representing bearish trends.

During the bear market, the red line dominated the chart. However, according to Gambardello, the blue line has recently been triggered on the ADA weekly chart.

This activation is a crucial signal that the cryptocurrency is finally on the verge of entering a bull market. Notably, this occurrence aligns with the timing observed around the last Bitcoin Halving.

The third indicator the crypto analyst highlights is the ‘trend catcher.’ This tool is designed to identify early trends and signal when the market is on the brink of an upward movement. Gambardello noted that this trend catcher was notably visible throughout the last bull market.

As of the current update, ADA is trading at approximately $0.60.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.