Citing TheMarketPeriodical, analyst Dan Gambardello warns that Cardano (ADA) could experience a fakeout scenario with a potential price drop to $0.73. Gambardello's technical analysis highlights a risk model reading of 35, which places ADA closer to bear market lows than bull market highs. The weekly chart shows a wedge pattern that could break down, targeting the 200-day moving average at $0.73. Meanwhile, Reliance Global Group added ADA to its $120 million corporate treasury, citing the project's fundamentals and long-term potential. The company emphasized Cardano's sustainability, peer-reviewed development, and real-world adoption as key factors in its decision.
Cardano Price Faces Potential Drop to $0.73 as Analyst Warns of Fakeout Scenario
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