Crypto markets seem to be on the edge of potential breakouts this week according to the the analysis of an expert trader and analyst, Dan Gambardello. He assumes that the outcomes of the earnings reports to arrive this week will have a notable influence.

On a daily BTC chart, Gambardello identifies a positive price channel, in which the currency has created higher highs and higher lows - a sign of speed-up. He also notices that the market lacks structure. To get a sense of what might possibly be waiting ahead, the trader has mentioned BTC’s chart in 2019 where the moving averages have acted as stepping stones for further gains. He warned, however, that there might be a downside risk, and a BTC price pullback to $27.000-$28.000 zone is possible.

Cardano has lately attained attention from the trader. It has printed a close above its 50-week moving average for the first time since 2020. This hints at a new price advance for ADA, Gambardello adds. His initial upside target for ADA’s value is situated at $0.55 and a break of this point would most likely lead to a better surge that could eventually reach the $0.70 range.

Overall, the analyst anticipates a positive earnings season and expects some cryptocurrency to gain momentum as a result. But, a downside risk can't be ignored and, in the case of BTC, a possible price dip to $27.000-$28.000 zone.



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