Crypto News – In a recent X article, well-known cryptocurrency trader and analyst Dan Gambardello offered his most recent thoughts on Ethereum (ETH), Cardano (ADA), and Bitcoin (BTC).
Famous Crypto Analyst Dan Gambardello Talks About 3 Major Cryptos
On the charts of all three cryptocurrencies, the expert claims that bullish setups have appeared.
The first thing Gambardello said in the video was that he thought Bitcoin would rise to about $42,000 in the near future. Regardless of whether the market leader hits this threshold or not, he did issue a warning, saying he expects a correction. Because BTC has moved into overbought territory, he is issuing this warning.
In addition, he disclosed that the impending correction of BTC will resemble past price fluctuations in past cycles. He continued by saying that the top cryptocurrency would frequently make corrections like this. Additionally, he mentioned that Bitcoin might consolidate at the $42K resistance level. If this occurs, according to Gambardello, it would signal the start of a new phase in the market, one that is driven by institutional interest and exchange-traded funds (ETF). He is, however, expecting a retraction.
What Does Gambardello Think for ADA and ETH?
If ADA breaks out in the coming days, the expert projected that the altcoin may surge to $0.45. After that, he sees ADA‘s longer-term price goal of $0.80 to $0.85. The Cardano ecosystem’s growth throughout this bear cycle is the primary factor supporting Gambardello’s optimistic view of ADA.
ETH, the biggest altcoin by market capitalization, was reportedly testing a significant resistance level on its chart, the analyst revealed next. Given the appearance of a bullish ascending triangle pattern on its chart, he forecast that ETH might fly over $3K if it is able to break above this level in the next few weeks.
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