Cardano

Strong

Coin

<ul class="news-points"> 
 <li>Dan Gambardello warned in his latest analysis that ADA could suffer a 20-27% drop in price soon.</li> 
 <li>ADA recorded a new higher low on its weekly chart, which may trigger a wave of profit-taking from traders.</li> 
 <li>At press time, ADA was changing hands at $0.5551 after it dropped more than 5% over the past 24 hours.</li> 
</ul> 
The cryptocurrency analyst and trader Dan Gambardello warned in his <a href="https://www.youtube.com/watch?v=gPri_ObRJGI" target="_blank" rel="nofollow">latest analysis</a> that Cardano (ADA) may be at risk of correcting 20-27% soon. His prediction comes after the altcoin was able to record a higher low on its weekly chart which is higher than the previous “swing high.” 
Despite the potential for a strong pullback in ADA’s value, the analyst did not outweigh the possibility of <a href="https://coinedition.com/cardano-ada-price-prediction/">ADA’s price</a> continuing its climb. In this bullish scenario, his upside target is at $0.65. One thing to take note of, according to the analyst, is that ADA has entered overbought territory. 
Although an altcoin entering overbought territory is not a definitive sign that a correction will take place, he shared that the chances of a price drop have increased. Should this technical flag be validated, ADA could look to target immediate support at $0.54. This could the…
The post <a href="https://coinedition.com/ada-could-experience-a-strong-correction-soon-predicts-analyst/">ADA Could Experience a Strong Correction Soon, Predicts Analyst</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

ADA Could Experience a Strong Correction Soon, Predicts Analyst

Coin Edition

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