• Dan Gambardello predicted that the worth of ADA may quickly surge to $0.55.
• Volatility within the cryptocurrency market is more likely to improve following the Federal Reserve's rate of interest lower.
• Gambardello additionally warned buyers to anticipate a “cryptocurrency crash.”

ADA, the native token of Ethereum rival Cardano, is anticipated to make a comeback within the crypto world and return to the highest 10 cryptocurrencies by market capitalization. Crypto analyst and Cardano bull Dan Gambardello says the altcoin will quickly hit a value of $0.55 as a bull situation unfolds.

In a publish on Twitter, Gambardello predicted that the Federal Reserve’s rate of interest lower on Wednesday may make markets “unsettled,” which may result in elevated volatility for digital belongings like ADA within the quick time period.

Gambardello suggested that it might be sensible to anticipate and visualize the cryptocurrency value decline, and in addition warned buyers in opposition to investing in ADA or every other cryptocurrency throughout this era of potential volatility. The analyst added that if ADA have been to fall and create a downtrend, the state of affairs can be a “false breakout,” resulting in a major value rally in direction of $0.55.

Additionally see: ADA holders acquire voting rights in Cardano's newest improve

Gambardello posted the above chart on X, exhibiting that ADA may surge to $0.55 from the present $0.33. Apparently, in line with information from CoinMarketCap, ADA is down 89.23% from its all-time excessive of $3.10 recorded on September 2, 2021, and is down 1.79% over the previous week, however is up 33.71% since September of final yr.

ADA buying and selling quantity elevated by 16.2%

Prior to now 24 hours, the ADA token’s buying and selling quantity has elevated by 16.2% and now stands at $221 million. Furthermore, the altcoin ranks because the eleventh largest cryptocurrency by market capitalization, with a worth of $11.9 billion.

The ADA token has a relative power index of 44.06, which signifies that bears are in total management of the cryptocurrency’s value motion, whereas the slope of the road suggests {that a} value upswing could also be on the best way. Moreover, the buildup/distribution line signifies that ADA accumulation is declining, decreasing investor demand.