Cardano

Shift

Bitcoin

Coin

<ul class="news-points"> 
 <li>Dan Gambardello revealed in his latest analysis that ADA has underperformed against BTC.</li> 
 <li>Despite ADA’s lackluster performance in this bear market, the analyst maintains a bullish long-term outlook for the altcoin.</li> 
 <li>The 20-day MA was on the verge of crossing bullishly above the 50-day MA on ADA’s chart at press time.</li> 
</ul> 
The crypto trader and analyst Dan Gambardello highlighted that Cardano (ADA) is currently underperforming against the market leader Bitcoin (BTC). In his <a href="https://www.youtube.com/watch?v=s_qeM4IpOik&amp;feature=youtu.be" target="_blank" rel="noopener noreferrer nofollow">analysis uploaded earlier today</a>, the analyst revealed that ADA has been able to climb 40% since the SEC labeled it as a security at the start of June 2023. Meanwhile, BTC has risen around 90% during this period. 
Gambardello assures that the underperformance of ADA during this bear market should not cause worry, as the altcoin similarly underperformed in the previous bear market but later emerged as one of the top performers during the subsequent bull cycle. As a result, the analyst anticipated that ADA may surpass numerous other cryptocurrencies in the upcoming bull cycle. 
To support his bullish outlook, Gambardello added that on-chain metrics for Cardano, including the Total Value Locked (… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/adas-short-term-trend-may-shift-from-bearish-to-bullish-analyst/">ADA’s Short-Term Trend May Shift From Bearish to Bullish: Analyst</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

ADA’s Short-Term Trend May Shift From Bearish to Bullish: Analyst

Coin Edition

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