Cardano Bulls Rejoice: Analyst Sees 2020-Style Breakout Signal

Crypto analyst Dan Gambardello has reignited bullish sentiment for Cardano (ADA), arguing that its technical indicators suggest a potential breakout similar to the surge in late 2020. His analysis focuses on key patterns on ADA’s monthly chart, reminiscent of the period leading up to its price jump from $0.11 to over $1 between November 2020 and January 2021. Gambardello highlights how the Moving Average Convergence Divergence (MACD) is a strong indicator for this potential breakout, with past experiences showing a green histogram on early MACD signals often preceded by price increases.