Cardano (ADA) is getting close to its 20-month moving average, which is a significant sign of prospective price movement, according to Dan Gambardello. According to historical data, ADA has historically seen a sharp increase in value when it has reached this moving average.
By averaging the price of an asset over the previous 20 months, the 20-month moving average is a technical analysis tool that smoothes price data. It is updated continuously. It assists in determining both long-term patterns and possible market turning periods.
Gambardello’s piece included an ADA pricing chart. As you can see, the price of the Cardano token climbed by more than 5,000%, from $0.06 to an all-time high of $3.1 per ADA, the last time it reached a 20-month moving average.
https://x.com/cryptorecruitr/status/1827366420407054661
If this is possible?
The price of the Cardano token might soar from its current $0.385 to $19.25 per ADA if this were to happen again. Amazing, in fact. But if that’s even feasible? It appears that there is little chance. In the event that ADA ever hits levels as high as nearly $20 per token, its market capitalisation will be $719.08 billion.
Ethereum, for instance, is now only valued at $332.8 billion. Furthermore, with such a high number, Cardano would surpass Tesla and rank as the tenth largest corporation in the world, along with Broadcom.
Although the previous record demonstrates impressive increases, it is speculative that ADA will reach such heights, and Cardano investors should take these aspects into account when assessing the possible future performance of their preferred crypto asset.
