Long-term ADA holders remained resolute by failing to sell.would surely represent a significant milestone and increased valuation for the cryptocurrency. But according to Dan Gambardello, the landmark is not attainable.However, whether this goal is feasible or merely speculative opinion depends on various factors, including investor sentiment, token adoption, and, most importantly, market conditions.As of this writing, Cardano’s market capitalization stands at a fraction of that amount at $12.
Furthermore, he referred to the six-hour chart on a nine-month time frame, highlighting the signals that the tokenIn the same video, he pointed out the daily chart which had recently formed a falling wedge. This kind of pattern occurs when an asset’s price moves in a bullish trend before a price action correction takes place.
Most times, this signals a bullish reversal. Hence, Gambardello noted that a reversal could occur soon while setting a target of $0.70 for ADA.On-chain data showed that price-Daily Active Addresses divergence was down to -32.44%. This metric reflects theWhile this metric alone might not serve an optimal effect on the network, the decline could propel investors to start valuing ADA higher to buy more. An increase in accumulation, in turn, could lead to a hike in value.
But to achieve a $500 billion market cap, ADA would require substantial growth and sustained influx into the Cardano ecosystem. One metric used to evaluate investors’ faithfulness to a project is
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