Cardano analyst Dan Gambardello predicts the end of ADA’s “boring” phase as it prepares to break out amidst Bitcoin’s recent gains.
Cardano (ADA) has posted a 3.3% gain today, trading at $0.3574. However, at this value, the altcoin remains 2.4% below its weekly high of $0.3669. In contrast, Bitcoin has surged over 8.11% in the past week, reaching a seven-month high of $73,500.
On a monthly timeframe, Cardano holders still face an 8.62% loss, while Bitcoin has risen by 12% over the past 30 days. Amid Cardano’s ongoing struggle to capitalize on Bitcoin’s uptrend, analyst Dan Gambardello has assured ADA holders that the days of ADA’s “boring” performance are coming to an end.
In his latest analysis, Gambardello acknowledged that Cardano has been moving sideways, “doing nothing,” while Bitcoin continues to hit higher highs, approaching its all-time high.
For context, Cardano is down about 88% from its peak, while Bitcoin is just 1.88% away from its all-time high. However, Gambardello emphasized that the behavior observed on the Cardano chart is “incredibly normal.”
Cardano Price Action Consistent with Historical Trend
He pointed out that, compared to the previous cycle, Cardano’s chart may not show much activity right now, but it was at a similar point back then. The analyst noted during the last cycle, Cardano also moved sideways while Bitcoin experienced a breakout.
Specifically, Gambardello highlighted that Bitcoin’s price surged into November in the previous cycle, nearing its all-time high, while ADA was stagnant. “We are seeing a similar situation today: Bitcoin is making progress while ADA remains steady,” he said.
Cardano ‘Boring’ Phase Ends Here
Meanwhile, Gambardello mentioned that toward the end of November 2020, ADA broke above its 20-week moving average, initiating a solid move. While not immediately parabolic, it stayed above that level for about a month.
He suggested that the market could witness a similar setup now, with 42 days remaining until the cycle’s “purple line”—just when ADA began to move last time.
Notably, other analysts like Ali Martinez have also acknowledged that Cardano’s bull trend could commence this November, similar to the last cycle, with a potential 23X surge to follow, as history indicates.
“Pay Attention to This ADA Move”
Furthermore, Gambardello urged ADA holders to pay close attention to ongoing signals from technical indicators. He noted that the ADA weekly chart shows bullish indicators aligning: higher lows on the RSI and the MACD signal line crossing, which could signify building momentum for Cardano.
According to Gambardello, the overall bearish sentiment could flip as these signals gain traction, combined with the powerful narrative surrounding Cardano’s integration with BitcoinOS.
Gambardello stressed that he has followed these cycles since 2018, and the charts have “remained consistent.” He reiterated that while Cardano is currently down around 88%, its performance at this stage in the last cycle when it was down 90%, is similar.