Cryptocurrency analyst Dan Gambardello's statements about Cardano (ADA) attracted attention.
Dan Gambardello discussed Cardano in his X post dated September 11. Cardano (ADA) experienced a remarkable price increase of approximately 8% in the past 1-day period.
The analyst stated that Cardano is in the “I told you so, I should have listened” phase of its 5-phase bull cycle.
The price of ADA is up 7.11% to $0.36 at the time of writing, and has increased by 11.23% over the past seven days.
This price increase has been in line with the recovery in the overall crypto market and advancements in the Cardano ecosystem, particularly ongoing updates and partnerships.
The cryptocurrency market rose on Thursday morning, driven by a rally in U.S. technology stocks and gains in Asian stock markets. U.S. inflation data for August supported expectations of a Fed rate cut in the coming weeks, with core inflation rising faster than expected above 0.3%.
You should have listened to Cardano
According to Gambardello, Cardano is currently in the “I told you so, you should have listened” phase, which suggests that ADA is once again raising the alarms and doubts of market watchers amid its weak price action.
Cardano has started to recover after falling to lows of $0.303 on September 6. Since then, ADA has closed in the green for four out of five days. Following this rally, ADA has started trading above the 50-day simple moving average (SMA 50), a level that has been keeping the ADA price under pressure since mid-April.
ADA tried to overcome this barrier in July and August, but the bulls were unsuccessful.
Stay tuned for new information.
