Analyst Expects Bullish Trend For: Bitcoin, Ethereum, And Cardano
04 Dicembre 2023 - 4:00PM
NEWSBTC
Dan Gambardello predicts a bullish trend for Bitcoin (BTC),
Ethereum (ETH), and Cardano (ADA) in the current cryptocurrency
market. Crypto Analyst On The Bitcoin Rally Dan Gambardello took to
his official X (formerly Twitter) handle to share his bullish about
the three major cryptocurrencies. The analyst post was accompanied
by a video where he explained why he is bullish on these three
coins. According to the analyst, positive setups have appeared on
the charts of all three cryptocurrencies. At the beginning of the
video, Gambardello stated that he believes Bitcoin has a short-term
upside target of about $42,000. Related Reading: Bitcoin Price
Blasts Past $41,500: Here Are The Reasons But regardless of whether
the market leader hits this threshold, he believes there might be a
correction. His warning of a correction is due to the overbought
territory the crypto asset has entered. Additionally, he revealed
that the impending correction of BTC would resemble past price
movements. He further asserted that the asset would make this
adjustment a “common move.” The analyst also discussed the
potential for Bitcoin to consolidate near the $42,000 resistance
level. According to the analyst, it would signal the beginning of a
new phase for the market when it takes place. Gambardello also
expressed his confidence about the next bull run, believing it to
be imminent. He noted that the worst bearish trends for Bitcoin
ended in January this year and have played out “quite well” ever
since. However, he asserted that crypto market consistency
might not have played perfectly, but it has been pretty close to
being “accurate” in terms of what the cycles have been doing. He
stated: In this macro piece of data I charted in 2018, BTC was like
$3,500 or so. And this was my approach to the macrocycles of
crypto. And has it played out perfectly? it has not been perfect,
but it has been extremely close to on point, in terms of what these
cycles are doing. Dan Gambardello On Ethereum (ETH) And Cardano
(ADA) Gambardallo believes that the Ethereum trend appears to be
different from that of BTC. He highlighted an ascending triangle
for the crypto asset, which could see ETH reaching about the $4,000
price mark. He also highlighted a critical resistance level for
ETH, around $2,270, on its chart. Related Reading: Here Are
Four Crypto Assets Poised For A Major Price Explosion – Analyst So
far, he believes ETH could surge to $3,000 if it can break above
this level in the next few weeks. However, he further urges the
cryptocurrency community to be prepared for a huge crash when this
happens. For ADA, the analyst has highlighted an ascending triangle
for the asset with quite a few resistance levels. He projected that
if ADA breaks out in the coming days, the cryptocurrency would
surge to $0.45. Also, his longer-term price stance for ADA is
between the $0.80 and $0.85 range. Featured image by iStock, chart
by Tradingview.com
Grafico Azioni Ethereum (COIN:ETHUSD)
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Grafico Azioni Ethereum (COIN:ETHUSD)
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