Cardano Could See a Breakout Leading Up to the Vasil Hard Fork
2022.06.08 12:11
Cardano Could See a Breakout Leading Up to the Vasil Hard Fork
- Gambardello also noticed an ascending triangle pattern on ADA’s chart.
- Another significant aspect is that the interest in Cardano is on the increase.
- Cardano is currently worth $0.6393.
Crypto influencer, Dan Gambardello, posted in a tweet on June 8 why he is waiting for a Cardano (ADA) breakthrough.
One of the first things he mentioned was that the ADA’s Vasil Hard Fork is just around the corner. In addition to this, Gambardello also noticed an ascending triangle pattern on ADA’s chart.
The triangle is starting to reach its apex, but the most significant thing about this for Gambardello is that the apex is “basically wrapping around the Vasil Hard Fork” at the end of June.
Gambardello also mentioned the fact that ADA is busy testing the $0.647 resistance and is closing daily candles above the 20-day moving average.
Another significant aspect for the influencer is that the interest in Cardano is on the increase. The crypto space seems to have a bullish sentiment towards the crypto and a number of whales have also been stocking up on ADA.
Gambardello concluded by acknowledging that anything can still happen, but that he thinks that the crypto market and even traditional markets are positioned for a rally if everything falls right.
He also stated that he is not trying to make a prediction about ADA, but rather referring to the consistent data that ADA has produced throughout its past.
According to CoinMarketCap, Cardano is currently worth $0.6393 after a 9.28% increase in price over the last 24 hours and a 4.76% price increase over the last seven days.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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