Cardano’s implementation of the Chang hard fork, which introduces on-chain governance, marks a key moment in the network’s growth. This development, highlighted by Dan Gambardello in his YouTube analysis, emphasizes the importance of decentralized governance in Cardano’s future.
Gambardello’s analysis provides an overview of Cardano’s current technical landscape. The analyst focuses on price action, key indicators, and the potential for long-term growth.
Cardano’s Chang Hard Fork
The Chang hard fork has introduced a shift in Cardano’s governance structure, transitioning the network towards true decentralization.
This means that with this update, the ADA holders are now in a position to determine the direction and development of the network, somewhat reducing the dominance that was earlier in the hands of Cardano Foundation, IOHK and EMURGO.
This change moves Cardano in line with other top-tier blockchains such as Polkadot that embrace decentralised governance. According to Gambardello, this is a great development since Cardano emphasizes decentralization more than other leading cryptos.
In response to critics, he wants them to change their perception towards ADA. He points out to them that blockchain is capable of long term success.
Technical Analysis and Price Outlook
Gambardello highlights the technical aspects of Cardano’s price action, providing insights into both short-term and long-term trends. From a macro perspective, he suggests that ADA is currently undervalued, despite the recent downtrend.
He cites the network’s governance improvements and technical strengths as signs of a bright future. The expert also discusses the prospect of a “supercycle” in the broader crypto market, which might last until 2026.
This argument is supported by historical data, which suggests that the market may enjoy long-term growth, driven by factors such as the Federal Reserve’s monetary policies.
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Key Price Levels and Indicators
In his analysis, Gambardello highlights several crucial technical indicators for ADA. Important levels to keep an eye on are the 20 and 50 day moving averages, which are presently around $0.35 and $0.37, respectively.
A break above these levels would indicate a reversal of the trend and possible bullish action. The analyst also stresses the significance of keeping an eye on the RSI, particularly when the ADA gets closer to oversold levels.
The possibility of a positive divergence on the RSI, in which the price creates a lower low but the RSI forms a higher low, is mentioned by Gambardello. This pattern could signal a reversal, especially if ADA holds above key support levels.
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The post Cardano’s Chang Hard Fork: How On-Chain Governance Could Trigger a Major ADA Price Upswing appeared first on CaptainAltcoin.
