- Dan Garmbadello thinks ADA’s pullback yesterday was a good development for the bull market.
- ADA dropped by 25% following Bitcoin’s pullback from a newly established ATH of $69,210.
- According to the analyst, ADA exhibited the same behavior at a similar stage in the last bull cycle.
According to Dan Garmbadello, a renowned cryptocurrency analyst, ADA’s pullback yesterday was a good development for investors in the developing bull market. Gambardello made the statement after the Layer-1 blockchain token dropped by 25% following Bitcoin’s drop from a new all-time high (ATH).
Cardano pulled back after reaching a new yearly high of $0.8, which coincided with the new ATH registered by Bitcoin at $69,210. Bitcoin led the drop, affecting many altcoins in the crypto market, and Garmbadello believes it is a good sign for ADA.
In a recently uploaded video, the famous analyst compared ADA’s behavior yesterday to what happened at a similar stage in the last bull cycle. He showed that ADA experienced a sharp pullback almost at the same stage of the bull cycle before rallying significantly.
Meanwhile, Gambardello confirmed the beginning of the bull cycle by s…
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