Cardano (ADA) may face a price drop to $0.73, according to analyst Dan Gambardello, who warns of a potential fakeout scenario. Gambardello's technical analysis indicates a risk model reading of 35, suggesting ADA is closer to bear market lows. The weekly chart reveals a wedge pattern that could break down, targeting the 200-day moving average at $0.73.
In contrast, Reliance Global Group has added ADA to its $120 million corporate treasury, citing the cryptocurrency's strong fundamentals and long-term potential. The company highlighted Cardano's sustainability, peer-reviewed development, and real-world adoption as key reasons for its investment.
Cardano Faces Potential Drop to $0.73 Amid Analyst Warning
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.