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As Bitcoin (BTC) continues its notable ascent, breaking through the $85,000 mark and setting new all-time highs, market experts predict a shift in capital towards several major crypto altcoins that have yet to retest their previous peaks.  Price Appreciation For Leading Crypto Post-Election Market expert Jesse Olson recently shared his altcoin watchlist on social media platform X (formerly Twitter), highlighting four cryptocurrencies, including Solana (SOL), as key players for what could be massive gains ahead.  Currently trading at around $218, SOL has experienced a significant 36% increase in price over the past week, outperforming many of the top ten cryptocurrencies. Remarkably, Solana is only 15% below its all-time high of $259, achieved in November 2021. Related Reading: Bitcoin Hits New All-Time High Of $84,000: What’s Next After A 23% Surge? The recent surge has resulted in a nearly 50% increase in trading volume over the weekend, allowing SOL to surpass Binance Coin (BNB) and secure the fourth position in terms of market capitalization among cryptocurrencies. Key resistance levels for Solana are set at $222 and $230, which could pose challenges for further upward movement. Another altcoin featured on Olson’s list is Ethereum (ETH). While it has underperformed compared to SOL and BTC in the weekly timeframe, ETH is approaching a critical breakout point.  Currently trading at approximately $3,300, Ethereum is just 33% shy of its record high of $4,878, reached in November 2021. The recent surge of 1.7% in the last 24 hours suggests potential momentum as it seeks to break through four months of resistance at $3,320 Chainlink Struggles To Break Resistance As Cardano Shines Chainlink (LINK) has shown slightly different dynamics. Although it experienced a minor 1% decrease in the last 24 hours, LINK has posted a substantial 43% surge over the week, with a trading price of $14.70 as of Monday.  Despite this positive weekly performance, LINK remains 72% below its all-time high of $52.70 recorded in May 2021. The token’s nearest resistance wall is at $14.80, a level it has not breached since July. Finally, Cardano (ADA) has emerged as a standout performer, boasting an impressive 84% surge in the weekly timeframe and an 80% increase over the past two weeks.  Currently priced at $0.5959, ADA is still significantly below its all-time high of $3.09, reached in March 2020, and is down approximately 81%. The nearest resistance for ADA is positioned at $0.6115, and if it surpasses this level, it could pave the way for a return to its yearly high of $0.81. Related Reading: Can The Donald Trump Win Drive Bitcoin Price To $170,000 This Cycle? Despite the challenges these altcoins face in the near term, Olson and other analysts maintain a positive outlook for the remainder of the year.  The recent victory of Donald Trump in the presidential election is anticipated to enhance institutional adoption of cryptocurrencies and increase capital inflows into the market.  This political shift could create a favorable environment for continued price appreciation across leading crypto assets of the ecosystem, including Bitcoin and the altcoins highlighted in Olson’s watchlist. Featured image from DALL-E, chart from TradingView.com 

Cardano price started a consolidation phase below the $0.6650 zone. ADA is holding gains and might aim for a fresh increase above $0.6500. ADA price started a downside correction after a strong rally toward $0.6600. The price is trading above $0.580 and the 100-hourly simple moving average. There is a key contracting triangle forming with support at $0.5780 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $0.6060 resistance zone. Cardano Price Consolidates Gains In the past few days, Cardano saw a major increase above the $0.40 resistance. ADA outpaced Bitcoin and Ethereum. There was a move above the $0.450 and $0.50 resistance levels. It even cleared the $0.600 level. A high was formed at $0.6620 and the price is now consolidating gains. There was a minor decline below the $0.6120 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.4277 swing low to the $0.6620 high. However, the bulls are active above $0.5500 and the 50% Fib retracement level of the upward move from the $0.4277 swing low to the $0.6620 high. Cardano price is now trading above $0.580 and the 100-hourly simple moving average. There is also a key contracting triangle forming with support at $0.5780 on the hourly chart of the ADA/USD pair. On the upside, the price might face resistance near the $0.6060 zone. The first resistance is near $0.6230. The next key resistance might be $0.6450. If there is a close above the $0.6450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.6800 region. Any more gains might call for a move toward $0.700. More Losses in ADA? If Cardano’s price fails to climb above the $0.6060 resistance level, it could start another decline. Immediate support on the downside is near the $0.5780 level. The next major support is near the $0.550 level. A downside break below the $0.550 level could open the doors for a test of $0.5180. The next major support is near the $0.500 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.5780 and $0.5500. Major Resistance Levels – $0.6060 and $0.6450.

Cardano (ADA) has made a significant move, breaking above the long-standing $0.40 resistance and reaching a key supply level at $0.45 after an impressive 42% surge over the past few days. This breakout is sparking fresh optimism among investors who have been waiting for ADA to demonstrate sustained strength.  According to recent data from Coinglass, ADA’s funding rate has risen to levels not seen since June, indicating strong demand and suggesting that this rally could only be the beginning of a larger trend. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH – Time To Buy Altcoins? This rising funding rate points to increased leverage in the market as traders grow more bullish on ADA’s potential for further gains. If ADA holds above the $0.40 mark, it could establish a new support level, reinforcing its recent uptrend and opening the door for even higher targets. However, the next few days will be crucial as the crypto market continues to rise, with key resistance and support levels in play. As traders closely watch ADA’s price action, it remains to be seen if this surge can sustain the momentum and push Cardano toward new highs. Cardano Is Starting To Rise Cardano has staged a powerful rally after months of selling pressure, marking its first major bullish move recently. With a push above crucial resistance levels, ADA has not only shaken off its downward trend but has also set up a new bullish price structure. Recent data from Coinglass underscores this bullish sentiment, showing that the open interest (OI)-weighted funding rate for ADA has reached its highest level since June. This surge in funding rates is a strong indicator of increased optimism among investors, as traders are willing to pay a premium for long positions, betting on Cardano’s continued rise. The positive funding rate implies that ADA demand is on the rise, with market participants eager to enter bullish trades. This breakout above key levels is attracting substantial interest from both retail and institutional investors, who are now positioning themselves for potential further upside. Many analysts suggest that this pump could serve as the catalyst for a more extended bullish continuation if Cardano can maintain its momentum. While ADA will need to establish new support at its breakout levels to confirm this trend shift, the recent uptrend signals renewed confidence in Cardano’s long-term potential. Related Reading: Bitcoin ETFs See Historic Surge – Institutions Go Bullish On BTC With $1.38 Billion Record Inflows As ADA continues to push upward, traders are now watching closely for a consolidation phase, which could provide the fuel needed for the next leg of this rally. If support holds around these levels, Cardano could be on the brink of a broader uptrend, making it a key altcoin to watch as the market recovers and interest in high-potential assets resurges. ADA Price Action: Key Levels To Watch Cardano (ADA) is currently trading at $0.43, following a strong surge that took it above the 200-day moving average (MA) at $0.39—a crucial level indicating long-term strength and trend reversal. This move above the 200-day MA suggests that bulls are in control, setting the stage for potential further gains. To sustain this momentum, it’s essential for ADA to hold above this moving average as support, reinforcing the bullish outlook. The recent price action remains very positive, with ADA consistently pushing to challenge new supply levels. The next key target is $0.458, a resistance level that, if broken, could open the door to even higher price marks. However, a brief retracement to lower demand levels around $0.415 would be a constructive move, allowing ADA to build a solid foundation before another potential rally. Related Reading: Solana Breaks Above Key Resistance – Top Analyst Sets $300 Target This controlled pullback could attract fresh buying interest and provide the necessary fuel for ADA to move further upward. Overall, with price action aligning with key technical indicators, ADA’s recent surge above the 200-day MA highlights a promising shift for the asset, with further bullish developments likely if critical support levels hold firm. Featured image from Dall-E, chart from TradingView

Crypto analyst Babenski predicted the Cardano price would enjoy a parabolic rally above $5 and revealed when this could happen. This comes amid ADA’s recent rally, which could mark the beginning of its bull run, having underperformed for most of the year.  When The Cardano Price Could Cross $5 In a TradingView post, Babenski revealed that the Cardano price could cross $5 by 2025 year-end or the start of 2026. As part of his analysis, the analyst also noted that Cardao printed a falling wedge on the weekly chart and had broken out. With this development, he remarked that the main target for this price breakout is around $1.  Related Reading: Dogecoin Price Forecast: Analyst Says Downside Is Minimized As 1M, 3M, And 6M Candles Turn Bullish However, if the Cardano price holds above this $1 target, Babenski is confident that ADA can replicate its 2021 bull run pattern, which could spark the ADA rally to $5 and above. A rally to this price level will mark a new all-time high (ATH) for the Cardano price, whose current ATH is $3.  The Cardano price has been one of the worst performers since the start of the year, with a 26% year-to-date (YTD) loss. However, there is a growing feeling that the ADA bull run is set to begin. For context, the ADAprice is up over 22% in the last seven days, its largest weekly gains this year.  ADA whales also look to be bullish on the Cardano price again, as IntoTheBlock data shows a surge in whale activity. The on-chain analytics platform Santiment also revealed that there were recently 697 ADA whale transactions that involved $100,000 transfers and above, close to the highest figure recorded since the Cardano price bottomed on September 4. Meanwhile, 37,892 unique ADA addresses made transfers in a single day, the most since September 4. In line with this, Santiment predicts that ADA might witness some retail FOMO soon enough.  ADA Entering Its Most Bullish Phase Crypto analyst Javon Marks also recently provided a bullish outlook for the Cardano price, stating that ADA may be entering its most bullish phase. He noted that ADA is now returning with “major strength,” proving that a price breakout could be imminent. The analyst further provided insights into how high the Cardano price could rise.  Related Reading: Large Transaction Volume Crashes 36% In 24 Hours As Dogecoin Price Fails At $0.2, Are Whales Selling? Javon Marks stated that the first breakout target remains a price rally of over 531% to $2.7709. Meanwhile, based on historical trends in the previous bull cycles, he claimed that the Cardano price could enjoy a price rally of over 1,700% and rise to $7.77. His accompanying chart showed that any price rally to $7 will likely occur in 2025.  At the time of writing, the ADA price is trading at around $0.43, up almost 2% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

Based on chart indicators, the Cardano price has just broken through a key resistance, sparking the promise of a potential uptrend. While the cryptocurrency is gearing up for a possible bullish rally, a crypto analyst has also shared the downside risks Cardano could experience if it fails to hold crucial support levels.  Cardano Price Breaks Falling Wedge Resistance, Signals Uptrend The Cardano price appears to be on a significantly bullish trajectory, as a crypto analyst on TradingView identified as ‘MyCryptoParadise’ has shared an in-depth analysis of its recent price movements. According to the crypto expert, Cardano had just broken through the descending resistance in its Falling Wedge pattern.  Related Reading: Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go? This move is typically seen as a bullish signal, as the Falling Wedge chart pattern is often associated with positive trend reversals. The Falling Wedge pattern is a unique technical indicator that occurs in an upward trend. It is characterized by two descending trend lines, with one representing highs and the other lows. The crypto analyst has stated that Cardano’s price is approaching a distinctive level, which he calls a “demand zone.” If it can experience a strong rebound from this point, Cardano could start its anticipated upward trend at this crucial level.  The demand zone at $0.0313 acts as a vital support level where there’s likely to be buying interest. If Cardano can experience a bounce from this point, the cryptocurrency could rally and break out above the $0.417 resistance level, strengthening the analyst’s bullish scenario while hinting at higher resistance targets.  The market expert discloses that when Cardano breaks the $0.417 resistance, there could be a notable shift in its present market structure. Notably, Cardano has experienced slow growth and muted market performance over the past few years. Due to the cryptocurrency’s low price and sluggish momentum, many investors have voiced out frustration previously, with some tagging ADA a dead coin and others alleging that Cardano is a ghost chain. However, recently, Cardano has been on a bullish trajectory, as its price has been experiencing significant gains over the past few weeks. According to data from CoinmarketCap, the Cardano price is trading at $0.434, marking a 17.29% increase in the past 24 hours and a 27.84% rise over the past week. The cryptocurrency’s daily trading volume is also up by more than 65%, underscoring investors renewed interest and confidence in the altcoin.  Potential Risks If ADA Fails To Hold Key Support Levels TheCryptoParadise has revealed on TradingView the downside risks that could occur if Cardano fails to hold the aforementioned critical support levels at around $0.313. The analyst emphasized that if the Cardano price fails to hold above the $0.313 level, it might experience a steep decline toward the critical support zone between $0.274 and $0.290. Related Reading: Dogecoin Price Looking To Close Weekly Candle Above The Yellow Line, Why $10 Is Possible If This Happens The analyst has disclosed that this support zone is an important price floor where buyers could step in to prevent further price decreases. He also highlighted that ADA will need to reclaim the $0.313 support to maintain a bullish outlook. However, if it closes a day below $0.274, it would most likely invalidate this bullish scenario, increasing the risk of further price declines and possibly even setting a new low.  Featured image created with Dall.E, chart from Tradingview.com

Cardano (ADA) has once more dropped below the crucial $0.3389 support level, sparking fears of an extended bearish phase. This level has previously held strong as a line of defense for ADA, but its recent breach suggests that sellers may be gaining the upper hand. With ADA navigating lower levels, investors are left questioning whether this slip could open the door to a deeper downtrend. As bears tighten their grip, this article aims to analyze the recent decline of ADA below the critical $0.3389 support level and evaluate the likelihood of a deeper downtrend unfolding. By exploring technical signals and market dynamics, this piece will provide readers with a clear understanding of ADA’s current position, potential risks, and paths forward in the face of mounting bearish pressure. Technical Analysis: Is ADA Set For Further Slide? On the 4-hour chart, ADA has recently broken below the $0.3389 mark, with its price now exhibiting strong bearish momentum as it trades beneath the 100-day Simple Moving Average (SMA). This positioning under the SMA is a key indicator of a possible prolonged downside move, suggesting that sellers are currently in control. If selling pressure persists, the $0.2388 level will become an important area to monitor. Also, the 4-hour Composite Trend Oscillator for ADA is displaying negative signals, as both the SMA line and the signal line have dropped below the zero level and are nearing the oversold zone. Typically, this movement indicates that selling pressure is intensifying, showing that sellers are becoming increasingly dominant in the market. Related Reading: Cardano (ADA) Eyes a Potential Recovery: Can It Bounce Back? On the daily chart, Cardano is exhibiting pronounced downward strength, highlighted by a bearish candlestick pattern that signifies increased selling pressure below the $0.3389 mark. This pattern indicates that sellers are firmly in control of the market, relentlessly driving the price lower, prompting a strong likelihood of further losses in the near term. An in-depth examination of the 1-day Composite Trend Oscillator reveals that Cardano is likely poised for prolonged losses. Following its failure to break above the SMA line, the signal line is descending and moving into the oversold zone, indicating a significant negative shift in momentum. If this downward trend continues, Cardano may face considerable challenges in staging a recovery, which could lead to an extended period of sluggish price movement. Key Levels To Watch In The Coming Days As Cardano faces a challenging market landscape, investors must monitor several key levels in the coming days. Attention should be directed toward the support level at $0.2388, which may provide crucial protection against additional downturns. Should ADA sustain its position above this threshold, it could pave the way for a potential recovery, aiming for the $0.3389 level and even higher. Related Reading: Bullish Analyst Sees Cardano (ADA) Rising 13% As Key Indicator Signals Buy Conversely, if ADA falls below the $0.2388 support level, it may indicate a deeper bearish trend, leading to possible declines toward other support levels and triggering heightened selling pressure. Featured image from Unsplash, chart from Tradingview.com

On-chain data shows that Cardano’s Network Value to Transactions (NVT) Ratio has surged recently. Here’s what this could imply for ADA’s price. Cardano NVT Ratio Has Surged To Its Highest Level Since June In a new post on X, the market intelligence platform IntoTheBlock discusses the latest trend in Cardano’s NVT Ratio. The “NVT Ratio” here refers to an on-chain indicator that keeps track of the ratio between the ADA market cap and transaction volume. When the value of this metric is high, it means the value of the network is high compared to its ability to transact coins. Generally, this can signal that the coin’s price is overvalued. Related Reading: Ethereum Bullish Signal: Whales Withdraw $750 Million In ETH From Exchanges On the other hand, the low indicator implies the market cap may be undervalued compared to the blockchain’s volume, so ADA’s price could be due to a rebound. Now, here is a chart that shows the trend in the Cardano NVT Ratio over the last few months: As is visible in the above graph, the Cardano NVT Ratio has witnessed a notable surge recently, even though the coin’s price has been following an overall bearish trajectory. This would suggest that the transaction volume has tanked on the network. Following this latest increase, the indicator has spiked to the highest level since June, implying that the cryptocurrency hasn’t been this overvalued in six months. The reason behind this trend is likely to be the lackluster price action the coin has witnessed for a while now. Other assets, such as Bitcoin, have started to pop off recently. At the same time, ADA has remained a sideways movement, so ADA investors may be fed up and leave to explore greener pastures. Related Reading: “Time To Get Ready For Another Bull Run,” Bitcoin Analyst Says— Here’s Why “Historically, elevated NVT ratios often precede price pullbacks,” notes the analytics firm. Thus, the recent spike in the indicator could spell further trouble for the already struggling coin. The Cardano NVT Ratio could now be to keep an eye on in the coming days, as any more jumps in the metric may confirm a bearish outcome. However, there is also the possibility that the trend will see a reversal, with enough activity returning on the network to justify its current market cap. ADA Price The cryptocurrency sector as a whole has been rising during the past day, and Cardano has followed suit. Although the coin’s surge has been smaller than Bitcoin’s, the asset has climbed above the $0.348 level. The chart below shows the coin’s recent trajectory. Featured image from Shutterstock.com, IntoTheBlock.com, chart from TradingView.com

The crypto market is heating up, with Bitcoin on the brink of all-time highs and anticipating a major breakout across assets. Cardano (ADA) is also at a critical juncture, showing striking similarities to its price action in 2020—a year that saw ADA skyrocket by over 4,000% in under 12 months.  Related Reading: If Dogecoin Breaks Above Key Resistance ‘We Could See A 25% Rally’ – Top Analyst Renowned analyst Ali Martinez recently shared a technical analysis comparing ADA’s current market structure to November 2020. According to Martinez, ADA’s recent consolidation around key levels could set the stage for a significant upward surge, particularly following the upcoming U.S. election. Martinez’s analysis highlights Cardano’s pattern of explosive growth after periods of accumulation and points to the potential for a strong rally if Bitcoin breaks new highs. Investors are now closely watching ADA’s price movement, eager to see if it can replicate its historic bull run. As the market prepares for a possible shift, Cardano’s performance in the coming weeks could offer insight into broader altcoin momentum in this cycle. The next moves could be decisive, making ADA one to watch in the rapidly evolving crypto landscape. Cardano Following 2020 Bullish Pattern  Cardano has captured the attention of analysts and investors who see its current consolidation as a possible signal of accumulation, hinting at a strong move up ahead. Well-known analyst Ali Martinez recently shared a technical analysis on X, comparing Cardano’s current price behavior and its pattern in 2020—a year in which ADA experienced an extraordinary 4,000% surge.  According to Martinez, Cardano’s price action is displaying a similar setup, suggesting the possibility of a breakout around November 18, roughly two weeks after the U.S. elections. This timeline aligns with historical patterns, where ADA consolidates before explosive upward moves. Martinez’s analysis points to a long-term bullish target of $6.30, representing a potential 2,000% increase from current levels. He anticipates that if it materializes, this rally could lead to a market top for Cardano around September 2025. This prediction is based on ADA’s cyclical price trends, where significant rallies have historically followed periods of low volatility and accumulation, driven by market sentiment and broader crypto adoption. Related Reading: GOAT Outpaces PEPE Growing To $900M Market Cap In 2 Weeks – Details Many investors are now watching ADA closely, as such a rally would not only be significant for Cardano but could signal a broader bullish momentum across altcoins. Cardano’s current price level has attracted a mix of institutional and retail investors seeking opportunities before what could be a substantial move.  With both on-chain data and technical indicators supporting a bullish outlook, ADA’s upcoming price action may set the tone for the altcoin market in the coming months. If history repeats, Cardano could be primed for one of its most powerful surges, attracting new interest and capital into the ecosystem. ADA Technical Levels  Cardano is trading at $0.346 after experiencing a clear rejection from the 4-hour 200 exponential moving average (EMA) at $0.351. This key level has been pivotal, as a break above it and holding it as support would signal a potential shift toward a short-term uptrend. For bulls aiming to regain control over ADA’s price action, establishing a firm foothold above the 200 EMA is essential, as it would likely attract buying interest and strengthen upward momentum. Additionally, the $0.37 supply zone presents another significant hurdle for ADA, as bulls have struggled to reclaim this level since early October. This resistance zone has repeatedly capped price action, indicating that substantial buying pressure is necessary to break through and sustain gains beyond this mark. A bullish trend could gain traction if ADA breaches the 200 EMA and the $0.37 supply zone. Related Reading: Bitcoin Short Positions Face Serious Risk Above $68,500 – Details However, if these levels remain unclaimed, ADA’s price is likely to continue consolidating sideways in the near term. Such a pattern would allow the market to stabilize and potentially attract fresh demand before attempting another breakout, though it may delay any significant upward movement for ADA. Featured image from Dall-E, chart from TradingView

The Cardano price has faced severe downward pressure compared to other cryptocurrencies in the past few weeks. ADA recently started a fresh drop below the $0.3550 zone and is now down by about 15% in the past 30 days.  This lackluster performance has kept many ADA holders in the red zone, with unrealized losses mounting as the price continues to struggle. As a result, it is only natural for many to keep selling to reduce their losses, which in turn could cause the ADA price to keep falling, at least in the short term. Analyst Says Cardano Price Is Already 80 To 90% Into Correction The current ADA price action is very difficult to deal with, especially for long-term holders who have continued to hold despite the laggard performance. According to an analyst on TradingView, the best way for these ADA holders to keep approaching the ADA price outlook is to keep holding. This is because the drop is already quite advanced and we can say that 80 to 90% of the correction is already over for this pair. Related Reading: Bitcoin ETFs Reach $3 Billion Inflows In October, Retail Investors Lead The Charge – Report To put things in perspective, Cardano is currently trading around 56% below its 2024 high of $0.7742, despite broader market rallies seen in September and October. According to crypto analyst Alan Santana on TradingView, ADA appears to be consolidating around the same price levels seen in November 2023, showing limited upward momentum. In comparison, most other large market cap cryptocurrencies like Bitcoin, Solana, and BNB are already on their way to retesting their 2024 highs made in the first quarter.  Interestingly, there exists a possibility of Cardano dropping lower in the coming months, especially if Bitcoin were to correct massively. However, as analyst Alan Santana pointed out, Cardano is already almost done with its corrections. As such, a fresh drop in the ADA price wouldn’t be a super strong drop and would last only a few days or maximum a few weeks.  Sustained Long-Term Growth For ADA According to Santana, selling ADA now may not be the best move, especially for those who have held throughout the corrections. This is because prices are already really low for ADA, and is already in the accumulation zone. As such, a prudent action would be to focus on the long term and wait until the next bull market enters in full swing.  Related Reading: Bitcoin Stock To Flow Model Shows Price Is Ready For Next Phase Transition Above $100,000 Santana’s price projection for ADA suggests that while another slight drop could occur, it would likely be followed by a gradual recovery from November 2024 to February 2025, with a more significant bullish phase expected to gain momentum by March 2025. By that point, Santana forecasts a potential return for ADA above $0.70, representing a 130% increase from its current price levels. At the time of writing, ADA is trading at $0.3371, having increased by about 1.25% in the past 24 hours.  Featured image created with Dall.E, chart from Tradingview.com

In a major move towards blockchain innovation and interoperability, Cardano has announced a new partnership with BitcoinOS (BOS), a smart contract operating system for Bitcoin, the world’s first and largest cryptocurrency. The new alliance will be aimed at unlocking Bitcoin’s trillion dollar liquidity for ADA investors and creating new opportunities for cross-chain capabilities for Web3.  […]

Despite its recent lacklustre price performance, market experts remain extremely bullish about the Cardano price prospects. Notably, a crypto analyst has forecasted that Cardano, which is currently trading below the $1 mark, is on the brink of a major breakout, with the potential to skyrocket to $5.  Expert Sees Cardano Hitting $5 Soon Popular crypto analyst, Dan Gambardello took to X (formerly Twitter) on October 6 to share his bullish projections for Cardano, highlighting past bull cycles and market trends. Gambardello told his 262,900 followers that Cardano could quickly rise above $1 between now and December.  Related Reading: Optimism, Aptos, And Taiko Face $169.66 Million In Token Unlocks, Should You Buy Or Sell? In a detailed video outlining the rationale behind his bullish prediction, Gambardello noted that if Cardano can follow the market trends established during the previous bull cycle, its price could easily skyrocket to $1. During the last bull market in 2021, Cardano had been among the top altcoins, experiencing significant gains that propelled its price to new all-time highs.  Although it surged to an all-time high of $3.10 in September 2021, Cardano has since plummeted by 88.43% and is currently trading at $0.35. CoinMarketCap’s data also reveals that ADA’s price has fallen by 8.41% over the past week, underscoring the cryptocurrency’s bearish momentum.  Despite the sluggish price growth, Gambardello has forecasted that ADA could potentially exceed all time highs to reach $5. The analyst emphasized that Cardano is even more well positioned for a bull rally than last cycle, highlighting positive signs in key metrics such as the altcoin’s Relative Index Strength (RSI) and higher low action.  To be more precise, Gamberdello projects that Cardank could reach $1 before the end of 2024, and then soar to new price levels between $5 and $10. The analyst has expressed confidence in this bullish outlook, emphasizing that a $5 price increase was a realistic target.  For Cardano to reach new all-time highs of $5, Gambardello has disclosed that the 50-week and 20-week Moving Average (MA) are crucial levels to watch. He stressed that ADA must first break above $0.38, and then move to $0.42 before it can experience a potential breakout to the upside.  Related Reading: Here’s Why The Bitcoin Price Could Hit $100,000 Before The End Of The Year Bullish Forecast For Cardano Continues To Grow Sharing a similar sentiment with Gambardello, a popular crypto analyst, identified as ‘Sssebi’ on X has predicted that ADA could potentially skyrocket to $10 by 2025. The analyst notes that the cryptocurrency could experience a sharp breakout to the upside, first surging to $0.5 before hitting the coveted $1 price mark.  After this, Sssebi predicts that ADA will rise to $3, surprising the broader cryptocurrency market with its massive growth. He believes that following a potential price surge to $10, investors will begin “FOMOing” hard as they recognize the immense potential of Cardano.  Featured image created with Dall.E, chart from Tradingview.com

The recent Chang hard fork upgrade in September has positioned the Cardano (ADA) blockchain as the top player in the crypto ecosystem, according to its founder, Charles Hoskinson.  Hoskinson, who is also known for his role in co-founding Ethereum (ETH), has consistently praised Cardano’s progress over the past month following the recent upgrade, asserting its superiority over the largest cryptocurrencies on the market such as Bitcoin (BTC) in terms of decentralization. Hoskinson Declares Cardano Remains Top Dog In a recent post on social media platform X (formerly Twitter), Hoskinson reaffirmed Cardano’s status, claiming it is “still number 1.” This statement follows his remarks at the Token2049 Conference in Singapore, where he discussed the new governance model of the Cardano network.  Hoskinson emphasized that this model “redistributes power” from a select few to the broader community, addressing a key concern he sees with Ethereum’s “centralized structure.”  Related Reading: Analyst Says PEPE Bearish Continuation Is Possible For A 50% Price Crash Hoskinson pointed out that Ethereum’s reliance on its founder, Vitalik Buterin, creates “a bottleneck for innovation,” whereas Cardano’s Chang hard fork has established a framework that ensures ongoing development regardless of individual involvement. Hoskinson further highlighted how delegated representatives (DReps) can now engage with one another, vote, and utilize a blockchain-based governance system to regularly ratify the network’s roadmap. He stated emphatically, “Charles, alive or dead, doesn’t matter. There’s still going to be innovation on a daily basis.” In addition, the Cardano blockchain has shown significant growth in key metrics, boasting over 74,000 Plutus scripts and the creation of 1.3 million delegated wallets over the last seven years.  Additionally, approximately 1,373 projects have been launched on the platform, as highlighted in a commemorative video by Input Output Global (IOG), the development company behind the blockchain. Final Transition To Decentralized Governance? In his latest social media update, Hoskinson also remarked on Cardano’s advancements in decentralized governance, suggesting that the network is on the cusp of achieving remarkable milestones with upcoming features. Looking ahead, Cardano aims to replace its initial genesis keys, which have been instrumental in managing the network since its inception. This transition will be supported by increased participation from stake pool operators (SPOs) and DReps, as well as the establishment of a Constitutional Committee (CC). Related Reading: XRP Macro Charts Signal Explosive Bullish Move Despite SEC Appeal: Analyst The next steps toward achieving a fully decentralized governance model involve ensuring that stake pool nodes meet operational thresholds and that decentralized applications (DApps) are nearing completion.  The final transition to the Voltaire era, signifying a fully self-sustaining blockchain, will occur with the final use of the Genesis keys, triggering another hard fork. However, further announcements and dates for these developments have yet to be released by IOG or the blockchain’s founder. At the time of writing, Cardano’s native token ADA trades at $0.352, recording a 2% price surge in the last 24 hours.   Featured image from DALL-E, chart from TradingView.com

Cardano (ADA) completed its first green September in six years as the coin enjoyed a price gain of almost 8%. This is significant as the crypto could enjoy an extended rally in October, leading to more price gains for Cardano. Cardano Records First Green September Cryptorank data shows that Cardano has recorded its first green September since it launched in 2017. This raises the possibility of the crypto enjoying an extended rally since it presents a bullish outlook for ADA. Crypto analyst Plutus also suggested that Cardano could replicate Bitcoin’s monthly returns following its first green September. Related Reading: Major Catalyst That Could Drive Bitcoin To New ATH In Q4 Emerges He added that the crypto can accomplish these positive monthly returns in the coming months with looser monetary policy starting to take place. Cardano imitating Bitcoin’s historical monthly returns in the last quarter of this year will be huge for the coin, considering that this is when the flagship crypto records its most profitable returns.  Specifically, October is historically one of the best months for Bitcoin, as the crypto has only recorded two negative monthly returns since 2013. Most of its gains have also been double-digits. Therefore, October could be huge for Cardano if it replicates BTC’s monthly returns.  Meanwhile, although October has historically not been a good month for Cardano, this time is much different, with these monetary easing policies presenting a bullish outlook for the crypto market. The US Fed rate cuts and China’s stimulus package were among the factors that contributed to ADA enjoying a monthly green candle in September. As such, the crypto could enjoy an extended rally as these monetary easing policies continue to roll out.  It is also worth mentioning that Q4 of 2023 was very bullish for Cardano as it recorded double-digit gains in October, November, and December. Similar price gains this fourth quarter will see ADA reclaim $1 and record a new yearly high in the process. This will provide a much-needed boost for the coin, considering it boasts a year-to-date (YTD) loss of almost 40%.  Other Factors That Support An Extended Rally From a technical perspective, Plutus noted that the current Heikin Ashi monthly candle is green, indicating a directional change on the cards. The analyst also revealed that the Weekly Gaussian channel, which flipped bullish back in February, is still green, suggesting that more impulsive moves to the upside are on the horizon for Cardano.  Related Reading: Bitcoin Bull Market Not Over: CryptoQuant CEO Reveals Where We Are This Cycle Cardano’s fundamentals are also bullish. The testnet for its privacy protocol Midnight Network just recently went live. This privacy solution will help developers build decentralized applications that ensure that users’ data are well protected, a move that could attract more users to the network. The network is already one of the most decentralized, transitioning to the Voltaire era, which focuses on community-driven governance.  At the time of writing, Cardano is trading at around $0.35, down over 6% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

Cardano (ADA) has recently recorded impressive gains of nearly 13% over the past week, outperforming Bitcoin (BTC), the largest cryptocurrency by market capitalization. Analysts are optimistic about further price increases for ADA, particularly following the emergence of a “super signal” on the ADA/BTC trading chart. Cardano Price Tests Key Levels Market expert TrendRider highlighted this potential in a recent post on X (formerly Twitter), noting that the super signal indicates a strong possibility for ADA to gain value against Bitcoin in the upcoming weeks.  This signal carries historical significance, boasting an 80% accuracy rate whenever it has appeared, suggesting that further price gains for Cardano are not just hopeful speculation but grounded in past performance. Related Reading: Bitcoin Peaks At Highest Value In 2 Months Above $65,000: Bull Run Predictions Currently trading at $0.398, ADA is at a critical juncture, testing the 21-day exponential moving average (EMA). TrendRider emphasizes that if Cardano manages to close the week above this level, it could signal the continuation of an upward trend.  Following this, the price is expected to encounter volatility around the $0.430 mark, where the 50-day EMA is situated, and again at $0.490, which aligns with the 100 and 200-day moving averages.  However, according to TrendRider’s analysis, the ultimate target for Cardano could be the 200-day simple moving average (SMA) at $0.75, which would be a significant milestone for the token following the significant price declines it has experienced over the past month. Market Analyst Predicts “Up Only” Phase Further reinforcing the bullish outlook, market analyst Alexander Legolas recently asserted that the crypto market has entered an “up only” phase. This optimism extends not only to Cardano but also to other prominent altcoins, which have shown signs of recovery following two notable market corrections of over 20% each on August 5 and September 6.  During these downturns, the Cardano price fell to $0.27 and $0.303 respectively, marking significant lows for the 2024 token after hitting its annual high of $0.810 earlier this year during the Q1 rally, which also saw BTC hit its all-time high of $73,700. Related Reading: Bitcoin Price Forecast: Q4 Outlook Indicates Parabolic Move Toward $120,000 Legolas further predicts that ADA could experience substantial upward momentum in the coming months, particularly as liquidity increases in the altcoin market. He points to the recent breakout of the total3 Alt chart from a massive cup and handle pattern as a key indicator of positive market sentiment.  If these predictions come true, Cardano could even approach the $1 mark, a rise of around 151% from current levels. However, the token would still be down 67% from its all-time high of $3.09 reached during the 2021 bull run.  Featured image from DALL-E, chart from TradingView.com

Cardano is trading at a crucial supply level that could spark a significant rally to new highs. After last week’s interest rate cut, optimism has surged among analysts and investors, with many anticipating strong upward momentum for the altcoin.  Related Reading: Solana (SOL) Consolidates in Symmetrical Triangle – Analyst Reveals $160 Target On Breakout This positive sentiment is reflected in spot trading and the futures market, where key data from Coinglass reveals a bullish inclination. The key market sentiment indicator of the funding rate suggests that traders are positioning themselves for a potential breakout. If Cardano breaks past its current resistance, a 20% surge is expected, potentially pushing the price to levels not seen in months. This breakout could solidify the altcoin’s uptrend and set the stage for further gains.  As the price approaches this critical resistance, investors are closely watching for signs of increased volume and momentum, which would confirm the strength of the bullish trend. With market sentiment shifting and technical indicators aligning, Cardano appears poised for a significant move.  Cardano On-Chain Metrics Suggest A Breakout  Cardano has surged over 15% since last week’s interest rate cut announcement, fueling speculation of a potential altseason in the crypto market this year. The broader market is turning optimistic, and key data from Coinglass supports this sentiment, showing a positive funding rate of 0.01%. This rate indicates that traders are paying a premium to maintain long positions, reflecting their anticipation of a potential price rally for ADA. A positive funding rate generally suggests a bullish market outlook, as it shows that traders are willing to incur additional costs to hold onto their positions, expecting further price appreciation. As Cardano approaches its crucial resistance level at $0.40, market sentiment points towards a potential breakout. Should the price maintain its current momentum and break above this key resistance, analysts expect an aggressive surge to new highs. Related Reading: SUI Price Sits 40% Below All-Time High As TVL Approaches $1 Billion Investors are closely watching this level, as a successful breakout could lead to a rapid 25% rally towards the $0.50 mark. This scenario would mark a significant recovery for ADA and reinforce the growing belief that altcoins, led by Cardano, could outperform in the coming weeks. However, the market remains cautious. While the current sentiment and data suggest a bullish outlook, the price must sustain its upward momentum to validate these predictions. A failure to break past the $0.40 resistance could result in a period of consolidation or even a short-term retracement. As the crypto community eagerly anticipates ADA’s next move, the coming days will be crucial in determining whether Cardano can capitalize on this renewed optimism and kickstart a broader altcoin rally. ADA Price Action: Key Levels To Watch  ADA is now trading at $0.39, hovering around a key resistance level that hasn’t been broken since late July. The price is less than 5% away from the daily 200 exponential moving average (EMA) at $0.41. This EMA has acted as a significant resistance level since mid-April and now aligns with a crucial supply zone, making it a pivotal point for continuing Cardano’s bullish momentum. For the bulls to gain momentum and establish a stronger uptrend, ADA must reclaim the 200 EMA and decisively break past the $0.40 resistance. Doing so would signal a confirmation of a daily uptrend and could pave the way for a sustained rally to higher price levels. Related Reading: XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally – Key Levels To Watch However, a deeper correction could follow if ADA fails to break through current resistance and set a new high. A pullback to lower demand levels around $0.35 would be the likely scenario as traders seek support before any potential rebound. The coming days will be crucial in determining whether Cardano can break through this resistance and establish a more bullish trajectory or if a retracement is imminent. Featured image from Dall-E, chart from TradingView

Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1. Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback Cardano Breaks Out To Reclaim Top 10 Spot Cardano’s price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range. Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed the project for a “lack of appeal” to the broader public. Additionally, many have criticized ADA’s “underwhelming” price action. However, the token’s recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes. Technical analyst Crypto Yapper noted Cardano’s recent performance. The analyst highlighted that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side. Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token. Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure. On Monday, Cardano’s token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADA’s price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning. The recent performance also pushed Cardano back to the top ten cryptocurrencies list after ADA’s market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours. Analysts See New Price Targets For ADA Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating a higher high on the daily chart. This performance “indicates a huge trend reversal for Cardano.” However, he pointed out that to break above the descending broadening wedge, the token must reclaim its second key resistance level at $0.39. If successful, the breakout could target the structure’s higher price range of $0.52. Related Reading: Bitcoin (BTC) On Track For ‘Strongest September Performance’, Is $90,000 Next? Other analysts also highlighted ADA’s performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern.” To the analyst, “If crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste.” ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

Cardano price started a decent increase above the $0.3620 resistance. ADA is now showing positive signs and might rise further toward $0.420. ADA price started a recovery wave from the $0.3420 level. The price is trading above $0.380 and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.3810 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could continue to move up if it remains stable above the $0.3800 support zone. Cardano Price Starts Steady Increase After forming a base above the $0.3420 level, Cardano started a decent increase. There was a decent move above the $0.3550 and $0.3650 resistance levels like Bitcoin and Ethereum. The bulls even pushed the price above the $0.380 resistance. A high was formed at $0.3938 and the price is now consolidating gains. It is above the 23.6% Fib retracement level of the upward move from the $0.3432 swing low to the $0.3938 high. Cardano price is now trading above $0.380 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.3810 on the hourly chart of the ADA/USD pair. On the upside, the price might face resistance near the $0.3900 zone. The first resistance is near $0.3940. The next key resistance might be $0.4200. If there is a close above the $0.4200 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.450 region. Any more gains might call for a move toward $0.500. Are Dips Supported in ADA? If Cardano’s price fails to climb above the $0.3900 resistance level, it could start another decline. Immediate support on the downside is near the $0.380 level and the trend line. The next major support is near the $0.3650 level or the 50% Fib retracement level of the upward move from the $0.3432 swing low to the $0.3938 high. A downside break below the $0.3650 level could open the doors for a test of $0.3550. The next major support is near the $0.3420 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.3800 and $0.3650. Major Resistance Levels – $0.3900 and $0.4200.

The latest weekly digital asset fund flows from CoinShares shed light on the ongoing dynamics among institutional investors when investing in altcoins such as XRP, Solana, and Cardano. Most of the inflow activity went into Bitcoin, but the report also highlights a diverse set of trends among altcoins to show preferences and strategies investors are […]

In a recent social media post, Charles Hoskinson, the founder of the Cardano blockchain, has reignited discussions within the crypto community by asserting that an upcoming upgrade will enable Cardano to surpass Solana in transaction speed.  His statement comes in response to a community poll debating budget allocations for two competing proposals, revealing his strategic […]

The overall bearish sentiment for Cardano (ADA) continues to rise as analysts now foresee a massive 33% price crash for the altcoin. This pessimistic projection comes as ADA struggles to gain traction in the market, with its value remaining stagnant or steadily dropping to lower levels.  Cardano (ADA) Crash Incoming Compared to other prominent altcoins in the crypto market, Cardano has performed poorly, struggling with price declines and sluggish growth. Consequently, a crypto analyst, identified as ‘Financialfreedomgoals’ on TradingView, predicted that cryptocurrency is likely to experience more than a 30% crash to new lows.  Related Reading: BlackRock Calls Bitcoin ‘Hedge Against Global Disorder’, Analyst Sets $600,000 Target The analyst notes the broader negative state of the current crypto market, highlighting that most altcoins are stuck in a “bearish rut.” He disclosed that rather than achieving new all-time highs, these coins have been setting fresh lows, underscoring the persistent downtrend and decreased confidence amongst investors.  Cardano, in particular, has had its share of negative sentiment and volatility. The cryptocurrency has stayed unwaveringly below the Exponential Moving Average (EMA) 200 line, a key technical indicator traders often use to gauge long-term trends. Typically, when the price of a cryptocurrency stays below this line, it tends to signal a continuation of a bearish trend.  Given the present bearish state of the market, the crypto analyst has dismissed the idea of an upcoming altcoin season, where the majority of cryptocurrencies excluding Bitcoin experience significant price gains.  On the daily time frame, Cardano is trading below the EMA 200 line and the bearish trend line. Initially, a rising wedge pattern had formed on the cryptocurrency’s price chart, however instead of breaking out, Cardano saw a series of negative candlesticks alongside a bearish crossover on the Moving Average Convergence Divergence (MACD).  This series of negative indicators suggests that bears may be tightening their grip on Cardano’s price. As such, the crypto analyst foresees the ADA continuing its descent to reach fresh lows at target areas: 0.2506 or 0.2197. These targets are calculated using the Fibonacci retracement ratios of 1.272 and 1.618.  0.3815 Resistance Could Trigger Bullish Surge Despite maintaining a largely bearish stance on Cardano’s price outlook, Financialfreedomgoals has hinted at a potential bullish turnaround. He has suggested that a price reversal for ADA could be possible if the price of the cryptocurrency manages to break above the key resistance at 0.3815 Fibonacci level.  Related Reading: Time To Convert Bitcoin To Ethereum? ETH/BTC Charts Gears Up For 180% Surge Crypto analyst Sssebi shares an even greater bullish outlook for Cardano. He highlights that during the previous bull market, ADA’s value increased by more than 100X. As a result, the analyst believes that ADA will rally by at least 20X in this current market cycle, expressing even stronger confidence that the cryptocurrency will reach $5 soon.  As of writing, the price of ADA is trading at $0.3576, reflecting a significant increase of 11.39% over the past week, according to CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

Crypto analyst Dan Gambardello has highlighted the Cardano (ADA) roadmap to a new all-time high (ATH). The analyst also suggested that Cardano was halfway to reaching a new high, noting what part of its cycle the coin was currently at.   Cardano Is In Stage 3 Of Its Cycle Gambardello remarked in an X (formerly Twitter) post that Cardano is in stage three of its cycle. He claimed that this part of the cycle for ADA is the “Told you. You should’ve listened” stage. This refers to the point where investors begin to capitulate, thinking that the crypto is unlikely to surge in the bull market given its bearish price action.  Related Reading: XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC Appeal; Analyst Reveals Once this stage is done, Cardano is expected to move to the next stage of its cycle, which Gambardello called the “Here we go again, another bull trap” stage. This stage will help shake out the short-term traders who jumped on ADA, believing its price would rise soon enough. Once the non-believers have been shaken out, the analyst predicts that Cardano will move to the last part of its cycle, when it will shatter its ATH and reach new highs.  In his accompanying chart, Gambardello predicted that Cardano would rise to as high as $15 by year-end 2025. The analyst also indicated that ADA will enjoy a price surge beyond 2025, expected to mark the end of this cycle’s bull run. Interestingly, he forecasts that Cardano’s price will double in a year and rise to $31 by year-end 2026.  A rise to $31 means that Cardano will have a market cap of $1 trillion. For context, the crypto market currently has a market cap of $2 trillion, meaning that figure is set to increase exponentially if ADA alone becomes valued at $1 trillion. The analyst didn’t provide any reason for believing the crypto can experience such massive growth in two years.  A More Conservative Price Prediction Crypto analyst InvestingHaven has offered a more conservative price prediction for Cardano. In an X post, the analyst stated that the crypto will reach a “super bullish target of $1.95” in 2025. He also questioned whether ADA was ready for a breakout, claiming that the $0.443 Fibonacci level was the key to unlocking higher prices.  Related Reading: Bitcoin Forms Golden Cross On 2-Month Chart, Here’s What Happened Last Time InvestingHaven added that the 2025 outlook for Cardano is full of potential, reaffirming that this is when the crypto will enjoy a parabolic rally. ADA has had a rough 2024 despite bullish developments like the Chang Hard Fork, which ushered in a decentralized governance system for the Cardano network. It is one of the worst-performing crypto assets this year, with a year-to-date (YTD) loss of over 40%.  At the time if writing, Cardano is trading at around $0.35, down almost 2% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

Charles Hoskinson, the founder of Cardano, has provided key insights into the next developmental and governance phases of Cardano and its Chang hard fork. With these plans set in motion, ADA, the native token of the Cardano ecosystem, has also seen a significant rise in a new metric, indicating a surge in investor interest and […]

In a new video analysis, popular crypto analyst Dan Gambardello delved into the potential future of the Cardano (ADA) price amidst the troubling forecasts of a US recession. With a significant following of 369,000 on YouTube, Gambardello highlighted the general unease among ADA holders and general crypto investors due to the ongoing economic discourse surrounding a potential recession. Will Cardano Bottom In December? He drew parallels between historical S&P 500 behavior and current market conditions, noting, “On average the S&P 500 bottoms three months after a recession begins, but 10 months before the recession ends.” This observation is crucial as it sets a potential timeframe for when investors might expect the crypto market, including ADA, to bottom out. “I give it a 50/50 odds that we’re in a recession now. Check this out. The Fed has signaled that September interest rate cut is coming all but two times in history when the Fed has started to cut rates, a recession followed,” Gambardello suggested and explained that recession starts are usually only declared to have started once they have already begun. He further explained that the prevalent discussion about the US already being in a recession could impact investment strategies. According to Gambardello, if history repeats itself, the market could see its lowest point in December 2024. He based this on a detailed look back at market downturns since 1957, which typically show significant movements three months following the onset of a recession. Related Reading: Stunning Fall From Grace: Cardano Suffers 90% Plunge In Market Share Since ’21 “I just think whenever the bottom will be in, it is going to be explosive […] oftentimes [they declare] it 10 months later and they’re like ‘hey, you know what, the recession started 10 months ago. Nobody, there’s no exact science to when it starts, not like a set date but 3 months after it, the bottom is in for markets,” the crypto analyst noted. Gambardello then addressed the Federal Reserve’s signals about upcoming interest rate cuts, which historically have been followed by recessions. This pattern adds another layer to the already complex market analysis, suggesting that a recession might indeed be imminent or already underway. “All but two times in history when the Fed has started to cut rates, a recession followed,” he remarked, highlighting the gravity of the current economic signals. Shifting focus to Cardano, Gambardello juxtaposed ADA’s current market performance against its historical data. He pointed out that, similar to previous cycles, ADA is currently down by 89% from its peak, closely mirroring its past downturns where it was down by 94% at similar points. Related Reading: Crypto Analyst Explains Why Cardano Remains ‘Fundamentally Bullish’ “We’re down 89%. So put it all aside, Cardano is not doing anything different than it did last cycle. And the one thing I did notice though was from this 2018 high to when Ada made its way to where we are right now is, that was around 992 days after that all-time high. This time around and this is why I think it feels a little bit more painful for Cardano holders this time around, we’re looking at almost 1,100 days from all-time high to this moment right so it’s been very grueling,” Gambardello stated. Moreover, he analyzed Bitcoin’s influence on altcoins like Cardano. He discussed the potential for an ‘altcoin season,’ a period when altcoins typically surge if Bitcoin’s market dominance begins to wane. According to his analysis, such a season isn’t currently in play but could be on the horizon, correlating with his predicted market bottom in December. “Most altcoins, especially the blue chips, especially the top altcoins, are going to fly when market bottoms and crypto bounces,” Gambardello said. Concluding his analysis, Gambardello adopted a cautiously optimistic tone. He acknowledged the uncertainties inherent in predicting crypto markets but underscored the importance of historical patterns and current economic indicators in formulating investment strategies. He advised his viewers to stay vigilant, keep an eye on market data, and be prepared for more potential downside, but also be ready for an explosive growth period that has historically followed recessions. At press time, ADA traded at $0.3218. Featured image from Shutterstock, chart from TradingView.com

Cardano (ADA) is approaching a crucial support level at $0.3389, a point that could determine its next major price movement. As the cryptocurrency nears this significant threshold, the question arises: will it hold firm, or will a break below signal a deeper decline? This pivotal moment could set the stage for significant shifts in ADA’s price trajectory. This article aims to analyze ADA’s current price dynamics as it approaches the $0.3389 support level. We will examine the significance of this support threshold and assess the potential impact of a breach on ADA’s price trajectory. By exploring technical indicators, recent market trends, and possible scenarios, we seek to provide a comprehensive outlook on whether ADA is poised for a deeper decline or if the support level will hold firm. As of the time of writing, ADA is trading around $0.3488, marking a 2.25% decline, with a market capitalization of over $12 billion and a trading volume exceeding $272 million. In the past 24 hours, ADA’s market cap has decreased by 2.23%, and its trading volume has dropped by 1.55% Decoding ADA Behavior: Key Insights From Current Trends On the 4-hour chart, ADA has dropped below the 100-day Simple Moving Average (SMA) and is currently consolidating just above the $0.3389 mark. This positioning suggests a bearish trend, with the potential for further declines if the cryptocurrency breaks below this key support level. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) has slipped below the 50% mark, currently resting at 41%, highlighting a growing bearish momentum and suggesting that selling pressure could intensify. On the daily chart, ADA is exhibiting notable negative movement below the 100-day SMA, with multiple bearish candlesticks forming as it nears the $0.3389 mark. This bearish trend indicates strong selling pressure and negative market sentiment, raising the likelihood of a breakout below this key level. Finally, the 1-day RSI reveals that ADA remains under significant bearish pressure, with the indicator trending below 50%. Sitting at 40%, the falling signal line highlights sustained bearish dominance and increasing pessimism surrounding the cryptocurrency. Critical Juncture: Will ADA’s $0.3389 Support Hold Or Signal A Deeper Drop? If ADA maintains support at the $0.3389 support level, it could start to rise toward the $0.4233 resistance level. If the price successfully breaches this resistance, it may continue its rally toward the next resistance point at $0.5229 and possibly other levels beyond. However, should the $0.3389 mark fail to hold and the price break below this level, the cryptocurrency may continue to move downward toward the $0.2388 range. Once this level is breached, the crypto asset may experience more price drops toward other support marks below. Featured image from Adobe Stock, chart from Tradingview.com

Cardano (ADA) has been stuck in a challenging position for the past few years, struggling with stagnant price growth despite being one of the most popular altcoins in the space. A crypto analyst has offered insights into why Cardano has underperformed while also maintaining an optimistic outlook and predicting a 1,000% rally to new highs this cycle.   Cardano On The Verge Of A 10X Rally Crypto analyst Max Maher recently released a YouTube video predicting that Cardano could witness a 3X, 5X or 10X surge soon. The analyst highlighted several reasons why he believes the underperforming altcoin could witness such a significant price increase.  Related Reading: Bullish XRP Analyst Eyes $7.50 If Crypto Breaks Resistance Maher disclosed that during the last crypto bull run in 2021, Cardano was one of the top bullish altcoins, skyrocketing to an all time high of $3.10 at the time. Following this substantial price leap, the cryptocurrency and other major coins slumped drastically. However, unlike other coins that have witnessed steady price gains in 2024, Cardano still struggles to recover from bearish sentiment.  According to CoinMarketCap’s data, Ethereum (ETH) has risen by an impressive 65.58% since the beginning of the year, currently trading at $2,735. Solana (SOL) has witnessed an even more dramatic increase this year, jumping 682.08% to trade at $159.20. In contrast, Cardano has recorded a modest year-to-date increase of just 45.54%, trading at $0.37 amidst bearish trends.  Maher has revealed that for Cardano to break out of the bearish territory and see a 1,000% rally to new all-time highs of $4.29, the cryptocurrency’s community sentiment will need to undergo a major change. He asserted that positivity fuels success, indicating that if the community’s sentiment towards Cardano becomes more favorable, the cryptocurrency could experience a rise in adoption, potentially triggering a substantial price increase.  As an example, the analyst observed a significant shift within the Cardano ecosystem following a post he released on X (formerly Twitter) in May, which underscored the impacts of negative comments on the price of ADA. The analyst revealed that the positive change in sentiment has continued to this day.  From this observation, the analyst suggested that Cardano needs an improved perception of its narrative and brand to drive a price increase. He highlighted that the cryptocurrency already has a rock-solid foundation and is supported by a highly secure and efficient network.  Key Factors Behind Cardano’s Persistent Slump While sharing his optimistic outlook for Cardano’s future price, Maher also offered key insights on why the cryptocurrency has experienced such a severe and prolonged price slump.  Related Reading: Crypto Analyst Sounds Alarm: Here’s Why It’s Your ‘Last Chance To Buy Bitcoin’ He highlighted three major reasons for Cardano’s underperformance. Firstly, Maher disclosed that, unlike Ethereum and Solana, Cardano lacked a compelling “core narrative.” This means that beyond its high level of security and reputation as an efficient blockchain network, Cardano lacked a strong, distinctive selling proposition that set it apart from other cryptocurrencies. While Ethereum has Spot ETFs, and Solana has meme coins to drive its price, Cardano only had its core functionalities. Additionally, Maher revealed that Cardano’s sophisticated values and fundamentals were difficult for investors to fully comprehend. Finally, he emphasized that Cardano lacked robust and positive community engagement, which is essential for driving its price higher.  Featured image created with Dall.E, chart from Tradingview.com

Cardano has gotten a lot of bullish predictions lately, especially in relation to the much-anticipated Chang upgrade. The upgrade is one of the most important upgrades for the network in a while, and this has triggered a wave of optimism among supporters. Amid this, another bullish prediction has been presented by crypto analyst Alan Santana, who predicts a significant rally for the altcoin’s price that would send it to new all-time high prices. Where Cardano Is In This Cycle In the last three years, the Cardano price has seen various waves of bullish and bearish cycles, and unfortunately, the bears look to have won out. This began after the ADA price hit its current all-time high price of $3.10 in 2021, and since then, it has been mainly down-only. While this would usually scare off investors, crypto analyst Alan Santana points it out in his bullish analysis. Related Reading: The Shiba Inu Shibarium Suffers 97.6% Crash In Active Accounts, What’s Going On? According to the crypto analyst, the period when the Cardano price hit a new all-time high and 2023 when the price began moving upward, it showed that the altcoin was in a bear market. However, this was followed by a consolidation phase, which lasted from the beginning of 2023 to the end of 2023. Once the consolidation period was done, the ADA price began to see an upside at the start of 2024. This saw its price go from as low as $0.24 to as high as $0.79. This phase, Santana refers to as the “initial bullish breakout.” Now, the reason this phase is important is it is what the analyst refers to as the “entree or appetizer before the major bull-market.” This means that is the analyst is right, then this initial breakout is only a preview of what’s to come. The decline that followed the local peak of $0.79 has been a source of worry for Cardano investors as the altcoin lost around 50% of its value since then. However, the crypto analyst calls this a “minor correction” which wouldn’t matter much when the bull cycle rolls around. How High Can The ADA Price Go? From the analysis, Santana seems to expect the Cardano price to bottom somewhere around $0.22. Soon after, a bounce is expected to follow the decline, pushing the price even higher. From here, the targets come in, both for the short and long term. Related Reading: This Triangle Pattern Triggered In 2021 Suggests XRP Price Will Surge 5,000% To $32 Short-term targets include a 284.5% increase to $1.36, and a 475.39% increase to $2. Over the long term though, the crypto analyst expects much more explosive rallies for the ADA price. Two in particular stand out: One is a 1,272.18% increase to a new all-time high of $4.8. While the most notable rally is a 2,200% increase that would put the price at $8. Featured image created with Dall.E, chart from Tradingview.com

On-chain data has provided insights into how Cardano (ADA) investors will likely react to the crypto token’s recent price surge. Cardano has been one of the leading gainers in the crypto market in the last seven days, with a price gain of over 14% during this period.  Related Reading: Cardano Chang Upgrade Launch: ADA Sees 52% Explosion In Major Metric Cardano Could Face Significant Selling Pressure Cardano could face significant selling pressure from investors who recently entered the money following the crypto token’s price surge. Data from the on-chain analytics platform Santiment shows that over an additional 12% of Cardano’s supply is now in profits, which could pave the way for the holders of these tokens to secure their profits, especially considering Cardano’s unstable price action so far in this market cycle.  Despite its recent price gains, Cardano has been one of the most underperforming coins since the start of the year and boasts a year-to-date (YTD) loss of over 35%. As such, Cardano holders are likely to be more compelled to secure their profits rather than hold on to the belief that this recent price surge is a bullish reversal rather than a relief bounce.  The recent transaction pattern among these Cardano holders also suggests that they are losing confidence in the crypto token and are likely to secure their profits as soon as possible. Data from the market intelligence platform IntoTheBlock shows that the average holding time of coins transacted in the last thirty days has been 5 months, indicating that Cardano holders are paper-handing their tokens.  Meanwhile, further data from IntoTheBlock shows how many addresses could offload their tokens if these Cardano holders begin to secure profits. 481,370 ADA addresses bought the crypto token between the price range of $0.3 and $0.35. This set of investors could be the first to begin securing profits, considering that they could easily fall out of the money if Cardano’s recent price surge is simply a relief bounce. A Guide For ADA Investors Crypto analyst Trend Rider recently provided a guide for Cardano holders, which he stated they could use as a “master plan to stay calm and tune out the noise.” This guide came in the form of a chart that showed key levels holders should watch out for and use in making a well-thought-out investment decision.  The analyst stated that the range between $0.22 and $0.31 is a liquidation zone, which presents a strong buying area for those who want to add to their positions. He further stated that the main barrier zone for Cardano is between $0.42 and $0.55, noting that this area is ideal for taking profits.  He added that Cardano could enjoy a quick rally to $0.75 if it breaks above this main barrier zone. The analyst claimed $0.75 is the “final boss resistance, a prime spot to take profits.”Those with greater conviction in Cardano might want to hold the crypto token for much longer if it hits $0.75. Trend Rider stated that a break above $0.75 means the crypto token is entering bull market territory.  At the time of writing, ADA has been trading at around $0.379, which is up almost 4% in the last 24 hours, according to data from CoinMarketCap. Related Reading: Cardano Price Poised To Hit $2.88, Following Solana’s Fractal: Crypto Analyst Cover image from Dall-E, chart from Tradingview

The excitement continues to build within the Cardano (ADA) community as the highly anticipated Chang hard fork gets ready to launch. Ahead of the upcoming upgrade, ADA, the native token of the Cardano ecosystem, has exploded by over 52% in this key metric.  Cardano Releases Date For Chang Upgrade Intersect, a member-based organization for the Cardano ecosystem, took to X (formerly Twitter) on August 20 to provide comprehensive details and updates on the Chang hard fork. The organization has unveiled key dates for the Chang upgrade launch, highlighting that the majority of preparations are already finalized. Related Reading: Ethereum Metrics Turn Positive: Can This Drive A New ATH Above $5,000? According to Intersect, the Chang hard fork group held a meeting recently to review and discuss the progress of the project’s desired thresholds and to gather valuable feedback from the Cardano community. With most of the preparations complete, they have proposed the first set of dates for the hard fork on the production mainnet.  The target date for “the Chang #1 hard fork” is set for Tuesday, August 27. However, a final decision on whether or not to proceed with this date will be made on Friday, August 23. The official date has been decided based on the readiness of certain key metrics, which have shown steady progress over the past weeks.  Intersect disclosed that the Chang hard fork group has verified and confirmed that the key components and tooling for the upgrade are set. This includes readiness of the Stake Pool Operator (SPO), exchange liquidity, and updates from Decentralized Applications (DApps). The team has affirmed that all components have exceeded expectations.  Furthermore, intersect noted that the formal process for initiating the hard fork will begin with a four-day lead time to conclude all necessary governance actions and approvals. In the case of a change of dates, the Chang hard fork team has revealed that the next appropriate window for the upgrade would be on September 3, 2024.  However, for now, all current indications suggest that August 27 is the most viable date for the Chang hard fork launch. In preparation, pre-production will be a hard fork on August 22.  ADA Surges Over 52% In A Key Metric  On August 21, Cardano’s native token, ADA, witnessed an unprecedented rise in overall trading volume. Coinglass reports that the cryptocurrency jumped over 54% at the time, underscoring the rising trading activity and interest from investors.  This unexpected volume increase could be signaling a shift in Cardano’s price dynamics. Over the past months, the price of ADA has been on a seemingly never ending consolidation phase. However with its surging volume, the cryptocurrency may be indicating a potential end to its price stagnation.  Related Reading: Historical Data Suggests Bitcoin Could Rise 1,000%, Here’s Why Although ADA’s volume rose above 54% previously, the cryptocurrency’s current trading volume is up by 36.21%, at around $428.88 million, according to Coinglass. ADA’s open interest is also witnessing a slight upward momentum, increasing by 4.66%.  Including the upcoming Chang upgrade, these positive changes in the cryptocurrency’s metrics could be fueling Cardano’s recent price increase in the last 24 hours. CoinMarketCap data shows that ADA’s price has jumped 4.74% and is presently trading at $0.368.  Featured image created with Dall.E, chart from Tradingview.com

Cardano is at a significant milestone with the impending Chang hard fork. This pivotal moment follows the recent upgrade of its node validation software before the upgrade goes live. As the Cardano ecosystem gears up for this major update, the network is experiencing a surge in activity that could determine its trajectory in the coming weeks. Amidst this heightened activity, Cardano’s cryptocurrency, ADA, has demonstrated an interesting price performance. ADA has seen positive price action in the past 24 hours, reflecting growing market optimism. This uptick in price comes on the heels of increasing transaction volumes, particularly from whales or large ADA holders. According to recent on-chain data, this cohort of traders has significantly ramped up their transactions, with transaction volume recently reaching a peak of 17 billion ADA tokens. Whales Making Moves This movement from large holders was noted on IntoTheBlock’s dashboard through a metric which follows the number and volume of transactions greater than $100,000 in a 24-hour period. Interestingly, this metric shows that the number of large transactions has been on a decline since the beginning of the week. However, an activity spike created a trading volume of 17.78 billion ADA on Friday, coming to $7 billion worth of tokens exchanged among whale addresses.  Related Reading: Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Here’s Why The increase in activity continues to linger, with 15.43 billion ADA tokens worth $6.28 billion moved among large holders in the past 24 hours.  While the surge in activity and trading volume could also be large transfers to crypto exchanges for potential selloffs, on-chain data suggests otherwise. Insights from IntoTheBlock’s Large Holders Inflow metric reveal that ADA whales have been rapidly accumulating tokens instead. This metric specifically tracks the influx of ADA tokens into wallets that hold at least 0.1% of the circulating supply, providing a clear picture of large holder behavior.  The data shows that these wallets have experienced a 579% increase in inflows over the past seven days and a 173% increase over the past 30 days. This significant accumulation has led to a corresponding rise in net flow, which accounts for both the inflow and outflow of tokens from large addresses. Specifically, there has been a staggering 720.62% increase in net flow over the last seven days and an even more dramatic 2580% increase over the past 30 days. Cardano Recovery Imminent? These figures suggest that large holders are not only acquiring more ADA but are also retaining their holdings, resulting in a substantial net positive flow. This trend reflects a strong accumulation phase among ADA whales, indicating their growing confidence and long-term commitment to the Cardano network.  Related Reading: Can Dogecoin Replicate Its 2021 18,000% Run? Here’s What The Chart Says Much of this accumulation can be attributed to the upcoming Cardano hard fork, which will herald the Voltaire era. Voltaire is the last phase of Cardano’s original roadmap in creating a fully decentralized blockchain ecosystem. As the Chang hard fork approaches, the crypto community is closely monitoring these developments, anticipating how they will influence the overall landscape of the Cardano network and its market performance. Additionally, there are rumors that Cardano might be the next cryptocurrency to secure its own Spot ETFs following the recent approval of Spot Ethereum ETFs. At the time of writing, Cardano is trading at $0.4171, up by 1% in the past 24 hours. The next feasible step is breaking above $0.42.  Featured image created with Dall.E, chart from Tradingview.com

Cardano (ADA) is currently in a pronounced seven-day decline, which was exacerbated by a fresh descent below the $0.41 mark. This decline is part of a broader trend observed across many altcoins, which have reacted negatively to Ethereum’s significant drop in the last 24 hours. The decline represents a correction from a bullish run that began earlier in the month, during which ADA holders saw good gains. Consequently, this up-and-down movement has created some critical support and resistance levels for ADA, which will be crucial for investors to monitor in the coming days. The market sentiment has shifted considerably, and traders are now focusing on these key levels to gauge whether ADA might rebound or continue its downward trajectory. Important Price Levels For ADA At the time of writing, Cardano is trading at $0.3963 and has corrected by 11.6% from a peak of $0.4485 in the past 48 hours. Zooming out on a monthly timeframe shows that the cryptocurrency is merely correcting after a strong bullish run. During this run, ADA surged from $0.3213 to $0.4545 within a week, representing an impressive increase of 41.5%. However, the $0.45 level acted as a significant resistance point, causing ADA to reverse and enter a consolidation phase between $0.45 and $0.40, which was followed by a recent breakdown below the support.  Related Reading: Will Bitcoin Reach A New All-Time High? Crypto Analyst Reveals Why $90,000 Is Possible According to a technical analysis by a crypto analyst, this consolidation movement created a pattern similar to a small bullish flag, and a breakout above $0.45 to the upside could push ADA to $0.6. This suggests that ADA could soon bounce back up on a support level and resume its uptrend.  On the other hand, analyzing ADA’s price movement suggests a break to the downside could push it to as low as a final key support level at $0.32 and cancel all of the gains it made earlier in the month. However, this is less likely to happen in the short term, as ADA now finds itself hovering around the $0.40 price level.  What’s Next For Cardano? According to blockchain analytics firm Santiment, Cardano (ADA) is one of three cryptocurrencies with significantly negative funding rates on major exchanges. However, Santiment suggests that this may not be entirely detrimental. The heavily negative funding rates indicate a high probability of a price boost from the potential liquidation of short positions. Related Reading: Golden Cross Appears On XRP Price Chart, Factors That Could Drive A Fresh Rally Over the past five weeks, Cardano has been consistently shorted on exchanges. Should these shorts be liquidated by even a minor price increase, it could trigger a substantial price surge. This liquidation could act as a catalyst, propelling ADA’s value on an extended surge above $0.6. A potential catalyst for a price increase could be the highly anticipated Chang Hard Fork upgrade to the Cardano blockchain. Featured image created with Dall.E, chart from Tradingview.com