Cardano

Bitcoin

Rise

Daily

Coin

<ul class="news-points"> 
 <li>Dan Gambardello predicts that BTC’s dominance may aoon reach its peak for the current bear cycle.</li> 
 <li>The analyst anticipates that ADA/BTC could rebound soon.</li> 
 <li>Supporting his bullish prediction is the emergence of a bullish divergence on the daily chart for ADA/BTC.</li> 
</ul> 
The cryptocurrency trader and analyst Dan Gambardello <a href="https://www.youtube.com/watch?v=sBWrr1GW9XQ" target="_blank" rel="nofollow">predicted</a> that the market dominance for Bitcoin (BTC) may reach its peak in the coming few weeks, potentially giving altcoins such as Cardano (ADA) the chance to rally. At the base of his prediction is the fact that ADA was resting on a medium-term positive trend line that had formed on the ADA/BTC daily chart. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img decoding="async" width="1835" height="893" src="https://coinedition.com/wp-content/uploads/2023/09/btc-11-1.png" alt="" class="wp-image-338214" srcset="https://coinedition.com/wp-content/uploads/2023/09/btc-11-1.png 1835w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-300x146.png 300w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-1024x498.png 1024w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-380x185.png 380w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-768x374.png 768w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-1536x747.png 1536w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-159x77.png 159w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-795x387.png 795w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-440x214.png 440w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-414x201.png 414w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-326x159.png 326w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-377x183.png 377w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-123x60.png 123w, https://coinedition.com/wp-content/uploads/2023/09/btc-11-1-129x63.png 129w" sizes="(max-width: 1835px) 100vw, 1835px">
 <figcaption class="wp-element-caption">
 Daily chart for ADA/BTC (Source: <a href="https://www.tradingview.com/x/Oxz97v3z/" target="_blank" rel="nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div> 
Despite his prediction, Gambardello did warn that BTC’s dominance could continue to rise to above 60% if history repeats itself. Consequently, ADA may drop another 50+% on the ADA/BTC chart, which is aligned with what other analysts anticipate and technical indicators suggest, according to Gambardello. 
The analyst noted in his video that a bullish divergence was present on the daily chart for ADA/BTC. This was evident in the fact that the daily RSI indicator was posting higher lows, while…
The post <a rel="nofollow" href="https://coinedition.com/btc-dominance-may-soon-top-out-giving-ada-a-chance-to-rise/">BTC Dominance May Soon Top Out, Giving ADA a Chance to Rise</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

BTC Dominance May Soon Top Out, Giving ADA a Chance to Rise

Coin Edition

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