Bitcoin continues its march toward $100,000, and several altcoins could be poised to hit new all-time highs.
ADA is nearing the apex of its prevailing rising wedge pattern, which points to a potential breakdown toward $0.513 by the end of December.
Cardano price started a consolidation phase above the $0.700 zone. ADA is holding gains and might aim for a fresh increase above $0.7880. ADA price started a downside correction after a strong rally toward $0.8200. The price is trading above $0.740 and the 100-hourly simple moving average. There was a break above a short-term contracting triangle with resistance at $0.7550 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $0.7880 resistance zone. Cardano Price Holds Gains Above Support In the past few days, Cardano saw a major increase above the $0.50 resistance. ADA outpaced Bitcoin and Ethereum. There was a move above the $0.650 and $0.750 resistance levels. It even cleared the $0.800 level. A high was formed at $0.8199 before there was a pullback. The price tested the $0.6880 support and is currently rising. There was a move above the $0.740 resistance. The price climbed above the 50% Fib retracement level of the downward move from the $0.8199 swing high to the $0.6893 low. Besides, there was a break above a short-term contracting triangle with resistance at $0.7550 on the hourly chart of the ADA/USD pair. Cardano price is now trading above $0.740 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.7750 zone. The first resistance is near $0.7880 or the 76.4% Fib retracement level of the downward move from the $0.8199 swing high to the $0.6893 low. The next key resistance might be $0.8180. If there is a close above the $0.8180 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.8800 region. Any more gains might call for a move toward $0.950. Are Dips Supported in ADA? If Cardano’s price fails to climb above the $0.7880 resistance level, it could start another decline. Immediate support on the downside is near the $0.750 level. The next major support is near the $0.740 level. A downside break below the $0.740 level could open the doors for a test of $0.6880. The next major support is near the $0.600 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 – $0.7400 and $0.7200. Major Resistance Levels – $0.7880 and $0.8180.
Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing. However, a trading firm suggests that Bitcoin dominance (BTC.D) falling below a crucial level could signal the start of the long-anticipated altcoin season. Interest Rate Cuts, Trump Administration To Propel Crypto In a recent Telegram broadcast, Singapore-based trading firm QCP Capital shared its crypto market analysis. The firm highlighted Solana’s (SOL) recent performance, noting that it outpaced Bitcoin and Ethereum (ETH) over the weekend, surging more than 17% from Friday’s lows. Related Reading: Bitcoin’s Market Is Still In An ‘Healthy Growth’ Phase, Says Analyst—Here’s Why Despite this, QCP Capital acknowledged that many investors remain hesitant to embrace the prospect of an imminent alt season, given Bitcoin’s steady climb toward the psychologically significant $100,000 mark. Rekt Capital’s analysis supports this sentiment, suggesting BTC is just beginning its parabolic phase. QCP Capital, however, predicted that a combination of Donald Trump’s victory in the US presidential election and interest rate cuts by the Federal Reserve (Fed) could set the stage for a full-blown altcoin season in the coming months. Trading Firm Identifies Key Bitcoin Dominance Threshold For Altseason According to QCP Capital, altcoins historically outperform major cryptocurrencies once the latter consolidate after significant rallies. The firm explained: Historically, we’ve seen altcoins outperform whenever the majors consolidate after a significant rally as profits rotate into smaller-cap coins. BTC’s dominance is around 60% now and it will probably need to be around
Charles Hoskinson, the founder of Cardano, and David Schwartz, the Chief Technology Officer of Ripple, have unveiled details about a potential collaboration between their respective blockchain platforms. The partnership aims to integrate Cardano’s advanced decentralized finance (DeFi) capabilities with Ripple’s extensive liquidity network, potentially bridging two of the industry’s most prominent ecosystems. Potential Cardano And […]
Cardano founder Charles Hoskinson has revealed that efforts to establish a comprehensive regulatory framework for cryptocurrencies in the United States are gaining significant momentum. In a “Surprise AMA” session on November 17, Hoskinson detailed his recent engagements with US senators and key figures in the crypto industry, outlining a multifaceted strategy to position the US […]
Cardano (ADA) is in the spotlight as a strong bullish rebound from the $0.6822 support level has reignited traders‘ optimism. This comeback marks a possible turning point for ADA, with renewed momentum driving the price higher and signaling a resumption of its uptrend. As buying interest strengthens, market sentiment appears to be shifting in favor of the bulls, raising the question: how far can Cardano climb in the coming days? All eyes are now on key resistance levels as ADA’s rally gains steam, fueling hopes for sustained growth. This analysis aims to delve into Cardano’s recent rebound from the $0.6822 support level and its implications for the asset’s future trajectory. By examining key technical indicators, market sentiment, and potential resistance levels, this piece seeks to assess whether ADA’s momentum can sustain its upward trend or encounter challenges along the way. Market Sentiment Shifts: Are Bulls Back In Control? Presently, ADA is demonstrating renewed positive strength after rebounding from the $0.6822 support level, steadily advancing toward the $0.8119 resistance level. This recovery indicates a significant shift in sentiment, with buying pressure triggering more price growth. Notably, Cardano is trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart, which not only reinforces the bullish trend but provides a strong foundation for further gains if ADA successfully breaks above the $0.8119 resistance. An examination of the 4-hour Relative Strength Index (RSI) shows that the RSI is trying to climb back above the 70% threshold after experiencing a decline to 57%, signaling a resurgence in buying pressure, reflecting renewed bullish momentum in the market. A break above the 70% level would indicate strong overbought conditions, suggesting robust demand and the potential for more price gains. Related Reading: Cardano (ADA) To Reach $6 By September 2025? Analyst Forecast 2021-Like Rally Also, the daily chart reveals strong upward movement for ADA, marked by the formation of a bullish candlestick as it recovers from the $0.6822 level. Trading above the crucial 100-day SMA reinforces the positive trend, indicating sustained strength. As Cardano continues to climb, it bolsters market confidence, setting the stage for growth. Furthermore, the daily chart’s RSI is currently at 80%, indicating robust optimistic sentiment as it remains above the 50% threshold. This surge follows a brief dip to 60%, showing that buying pressure has returned. While the high RSI suggests the asset is overbought, it also signals continued strength, pointing to possible gains. Next Targets For Cardano: Can The Rally Sustain Its Pace? ADA has demonstrated strong bullish momentum after bouncing from the $0.6822 support level, advancing toward the key resistance at $0.8119. Its ability to stay above the 100-day SMA on the 4-hour chart suggests sustained strength, signaling that Cardano could maintain its upward movement. A successful break above the $0.8119 resistance could propel the price toward the $1.26 resistance level, setting the stage for a price spike. Related Reading: Cardano Price Prediction: Analyst Sounds Alarm Of Break Through Key Resistance, Why A Rally Could Follow However, if the rally faces difficulty breaking through the $0.8119 resistance, it may result in pullbacks or consolidation, shifting focus toward key support levels. Featured image from Adobe Stock, chart from Tradingview.com
Cardano (ADA) has seen a massive rally in the last few weeks, surging over 81% in the past fourteen days. As the cryptocurrency continues breaking past key levels, a renowned crypto analyst highlighted its potential 2,000% climb. Related Reading: Analysts Bullish On Dogwifhat (WIF) $5 Target As Price Retests $4 Resistance Cardano To Hit $6 By Q3 2025 Crypto analyst Ali Martinez forecasted that Cardano might hit the $6 mark by September 2025. Earlier this year, the analyst noted that ADA’s chart reassembled a pattern similar to 2020, which suggests that the cryptocurrency could experience a rally like 2020-2021’s bull run. Per the post, ADA broke out from its two-year consolidation in early 2020 before retracing 75% and consolidating for most of the year. By November 2020, the token bounced from the accumulation range and started its massive 4,000% rally, which lasted around nine months. This year, Cardano has seen a similar move during the first leg of the cycle, reaching its year-high of $0.81 before retracing 75% and consolidating between the $0.6-$0.27 price range for the last eight months. Following the crypto market’s recent rally, fueled by Trump’s victory in the US elections and the Federal Reserve’s decision to reduce interest rates by 0.25, Cardano has experienced a massive 50% weekly surge. Martinez previously forecasted that ADA could experience the second leg’s initial jump on November 18, around two weeks after the US elections. However, the cryptocurrency reclaimed the $0.6 support zone and broke above the $0.65 horizontal level earlier today. This performance represents an eight-month high for Cardano, which has been heavily criticized for underperforming against most altcoins. According to the chart, ADA might move sideways around this range for the following days before challenging its year-high price. If ADA continues replicating the last cycle’s pattern, the cryptocurrency could reach the long-awaited $1 by year-end. Additionally, it could surpass its previous $3.09 all-time high (ATH) by Q1 2025 before entering price discovery mode. Martinez suggested that Cardano could rise over 2,000% toward the $6 mark, reaching its top between July and September 2025. ADA Among Today’s Market Leaders While most cryptocurrencies in the top 100 move sideways, ADA has soared 21 % in the last 24 hours. The token surged as the third-best performer today, behind XRP and ALGO. Besides the general economic and geopolitical factors, its recent performance has also been fueled by speculation surrounding Cardano’s potential involvement with Trump’s administration. On Thursday, a member of the World Economic Forum (WEF) and the United Nations (UN), Shawn, shared on X that re-elected President Trump is exploring a federal voting and identity verification system based on blockchain technology. Related Reading: Dogecoin Frenzy Arrives In Korea: ‘Kimchi Premium’ Returns Amid DOGE’s 110% Rally Speculation arose when another X user claimed that Cardano’s founder Charles Hoskinson is “already in talks with the Trump administration,” arguing that “they’ve been working with the state of Wyoming on voting systems for a couple of years now.” Cardano has rallied an impressive 84% in the last month, breaking above the $0.65 mark for the first time since late March and recovering its top 10 crypto spot. As of this writing, ADA trades at $0.67. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin is witnessing a shallow pullback, but bulls still anticipate a rally toward $100,000 in the short-term.
Speculation is growing around a potential new voting system for the US that could use blockchain technology, with the Cardano (ADA) and Hedera (HBAR) protocols reportedly at the forefront of this initiative. Plans For ‘eVote’ Platform? According to Shawn, a member of the World Economic Forum (WEF) and the United Nations (UN), President Trump and […]
Executives of two prominent cryptocurrencies are in the exploratory stage of a possible partnership between the two crypto platforms. If it pushes through, it might set an example and pave the way for future alliances among key players in the crypto space, generating excitement in the digital currency community. Related Reading: Tourist’s Nightmare In Thailand: […]
Renowned for its emphasis on sustainability and scalability, the blockchain platform Cardano has seen a notable increase recently. ADA, its native token, is surging nearly 80% in the last week, to the delight of investors. Related Reading: XRP Price Patterns And 2024 Election Spark Talk Of A New Rally With long-term predictions considerably more hopeful, they are now projecting a possible upside that may drive ADA’s price as high as $2.77 in the next months. However, technical indicators hint to ADA perhaps being underpriced right now, trading 16.99% below target forecasts for the next 30 days, data from CoinCheck up shows. Based on current analysis, ADA could soar to 139% within three months. While the one-year prognosis forecasts an amazing 168% increase, the six-month view is even more hopeful, predicting a 159% rise. Expectations For A Major Rally Analysts are hopeful that ADA will hit $7.77, with some predictions calling for a 1,700% increase. Even though it’s just a “prediction”, this massive price goal shows how far ADA has come and how big the market could be. These predictions are interesting, but they also show how unstable the crypto market is as a whole. These major forecasts mostly rely on how the market moves, how investors feel, and the overall state of the economy. $ADA (Cardano) now starting to return with major strength and can be entering the next and most bullish phase of its breakout process! First breakout target remains over 531% away at $2.7709 but history says this run could consist of over +1,700% to $7.77+! https://t.co/Lf9z9nJ22I pic.twitter.com/oXEbKilgA9 — JAVON⚡️MARKS (@JavonTM1) November 8, 2024 Proposal For New Improvement Apart from its pricing performance, Cardano is attracting interest with a new Cardano Improvement Proposal (CIP) meant to further improve its platform capability. Emphasizing the Plutus Event Emit Standard, this proposal seeks to simplify smart contract creation, enhance interoperability, and add cutting-edge capabilities such contract-owned tokens. Cooking a new Cardano Improvement Proposal pic.twitter.com/b4nLHj3D0G — Sebastien Guillemot (@SebastienGllmt) November 11, 2024 Recently expressing his support for this CIP, founder Charles Hoskinson said that the innovation team will give it top priority and that target deployment would be early 2025. This anticipated improvement is supposed to draw more developers to the Cardano ecosystem, hence improving the usability and popularity of the platform. The plan fits Cardano’s objective of providing strong tools and an easy-to-use interface for decentralized apps. Related Reading: Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot Cardano: Path Forward With a good upward trend already developing, ADA is in a prime position to attract more market attention in the future. It constantly strives for sustainability and security while making improvements and rolling them into the blockchain space. The future of Cardano will be determined by how it manages to live up to its promises and how the rest of the market reacts to these updates. A lot will be watched in the coming months as to how ADA manages to hold onto the momentum and hit those high price targets. Featured image from DALL-E, chart from TradingView
Bitcoin is showing no signs of stopping its advance toward $100,000, and several altcoins look poised to follow.
The Cardano Foundation has released its first Financial Insights Report, disclosing that its assets totaled $478.24 million as of Dec. 31, 2023, according to a Nov. 13 statement shared with CryptoSlate. Of the reported assets, the Foundation holds 82.7% in ADA, 10.1% in Bitcoin, and the remainder in USD liquidity. Given the recent market rally, […]
The post Bitcoin rally has pushed Cardano Foundation BTC holdings to over $100 million appeared first on CryptoSlate.
Cardano Foundation, a not-for-profit organization that develops and supports the Cardano network, launched its first Financial Insights Report on Wednesday detailing spending across operations, education and adoption for 2023.
Prosecutors petitioned a New York federal court to seize crypto they alleged is linked to bribes paid to Chinese officials by Sam Bankman-Fried.
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.
Bitcoin picked up momentum and soared above $84,500, pulling several altcoins higher.
Shytoshi Kusama, the lead developer of Shiba Inu, publicly mocked Charles Hoskinson, the founder of Cardano, over his alleged relations with the incoming Trump administration on crypto policy. The tension unfolded over X, drawing significant attention from the crypto community. As reported earlier, Charles Hoskinson has expressed plans to engage with lawmakers to foster clear […]
Charles Hoskinson, the founder of Cardano, has revealed new insights into his potential involvement in shaping United States crypto policy during the ongoing transition period under President-elect Donald Trump. In a livestream on Sunday night on YouTube, Hoskinson outlined his vision and possible contributions to future crypto legislations. Will The Cardano Founder Serve Under Trump? […]
After Donald Trump won the US elections, speculations have been circulating that Cardano founder Charles Hoskinson could be appointed to a key government role that will oversee the crafting of policies on digital currency. Hoskinson confirmed that he might step in as the presidential advisor on legislation concerning crypto. Related Reading: Trump Pick: Wall Street […]
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
Bitcoin hit a new all-time high at $77,000, boosting buying in several altcoins, which have also broken above their respective resistance levels.
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 experienced a significant surge over the past four days, with its price increasing by an impressive 32%. In the last 24 hours alone, ADA has climbed 16%, boosting its market capitalization to $14.932 billion. This surge has propelled Cardano back to its position as the ninth-largest cryptocurrency by market cap. Several factors have contributed to this bullish momentum: #1 Bulls Takes Over The Entire Crypto Market The optimistic market sentiment extends beyond Cardano, with the crypto market as a whole experiencing a significant rally. This upward movement has been mostly driven by Donald Trump’s victory in the US presidential election. Trump’s administration has committed to ending the “war on crypto” and positioning the United States as a central hub for crypto businesses. Related Reading: Cardano (ADA) NVT Ratio Now Highest Since June: What Does It Mean? Adding to the positive momentum, the Federal Reserve’s decision on November 7 to reduce interest rates by 0.25% has provided additional tailwinds for the crypto market. The Fed cited easing labor market conditions and increased confidence that inflation is moving sustainably toward the 2% target. Analysts from The Kobeissi Letter noted that the vote for the rate cut was unanimous. Powell said that “labor market conditions have generally eased” and that “risks to goals remain roughly in balance.” #2 Cardano Whale Activity On-chain analysis firm Santiment has highlighted a surge in whale activity surrounding Cardano. In a recent post on X, they observed that ADA has been “one of the notable surprise altcoins taking flight during this crypto-wide pump.” They suggested that “we may be seeing some retail FOMO coming soon,” acknowledging that this surge “has been a long time coming for the patient ADA community.” Santiment reported that Cardano broke above $0.43 for the first time since July, climbing 25% in three days due to “massive network and whale activity.” Specifically, they pointed out that 37,892 unique ADA addresses made transfers in a single day—the most since the September 4th bottom—and there were 697 transactions exceeding $100,000, also the highest since that date. This uptick in large transactions and active addresses indicates heightened interest from major investors, signaling the potential for continued upward momentum. #3 Technical Breakout Unlike many other altcoins, ADA has been in a prolonged bearish phase. However, the recent surge could mark a pivotal turning point, indicating a potential bullish reversal. Since August, Cardano’s price has been making a series of higher lows. Related Reading: Cardano Might See A Massive Pump Around November 18 – Analyst Exposes 2020 Similarities The current move has also allowed the ADA price to break above a downtrend line that has dictated its price movement since April, after being rejected five times previously. The breakout can be considered significantly bullish as it aligned with the pattern of higher lows. Notably, ADA has surpassed the 20-, 50-, 100-, and 200-day moving averages during this surge. Additionally, ADA has moved past the 0.236 Fibonacci retracement level, the most critical horizontal resistance point. A successful retest of this price level at $0.40 today could pave the way for further upside. At press time, ADA traded at $0.4266. Featured image from Shutterstock, chart from TradingView.com
ADA price breaks the multimonth downtrend pushing Cardano to four-month highs, thanks to multiple macro tailwinds and favorable technicals.
Crypto markets cheered Donald Trump’s win by pushing Bitcoin to a new all-time high above $75,000, signaling the start of the next leg of the uptrend.
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