ADA
Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish
Published
5 hours agoon
By
adminSince March, Cardano (ADA) has experienced recurring periods of significant price declines. However, crypto pundit Dan Gambardello, a popular analyst on the Crypto Capital Venture’s YouTube channel, predicts a potential bullish reversal based on an analysis of the weekly and daily charts.
Key Technical Indicators Support Bullish Outlook
According to the analyst in a recent video, ADA is poised for a significant breakout, potentially reaching around $31, representing a remarkable 8,500% increase from current levels. The analyst highlighted that the market has experienced “180 days of downside” since March, creating favorable conditions for this anticipated surge.
Related Reading
He further suggested that ADA could break its current cycle of lower highs and lower lows, citing key technical indicators, particularly the MACD (Moving Average Convergence Divergence) on the weekly chart, which is showing signs of a bullish crossover. “The macro momentum of Cardano is signaling its readiness to bottom,” he said, emphasizing the upward momentum of the MACD histogram since May.
However, he cautioned that ADA has yet to decisively move above the 20-day and 50-day moving averages. He warned that while testing key levels, the move could fail, advising patience until more price action confirms a true breakout. While some analysts view Dan Gamberdello projections as overly optimistic, crypto analyst Sssebi has offered a more conservative forecast.
He forecasts a rally of 20x to 30x for Cardano over the next year. Sssebi noted that Cardano current position mirrors its state during the last cycle, indicating a major rally may be imminent. He predicts that Cardano could hit a minimum price of $5 by 2025, with a possible peak of $10 during the height of the bull market.
Cautious Outlook For Cardano
However, not all analysts are as bullish. Trader “Lingrid” has adopted a more cautious perspective regarding Cardano (ADA), predicting a short-term pullback for the cryptocurrency. In a recent post, he noted that “ADAUSDT appears bearish on the daily timeframe,” forecasting a potential decline to $0.325 and suggesting that ADA may remain within the consolidation zone between $0.30 and $0.34 for an extended period.
Related Reading
This negative outlook is further reinforced by the bearish on-chain metric. According to Coinglass, ADA’s Long/Short ratio currently stands at 0.926, indicating a prevailing bearish sentiment among traders.
Furthermore, its future open interest has declined by 3.8% in the last 24 hours and has been steadily falling. This suggests that traders are either liquidating their positions or hesitant to establish new ones.
At press time, ADA was trading near the $0.352 level and had experienced a modest price decline of 0.8% in the last 24 hours. During the same period, its trading volume had dropped by 18%, indicating lower participation from traders amid selling pressure.
Featured image created with Dall.E, chart from Tradingview.com
Source link
You may like
AI-Related Cryptos Lead Altcoin Surge; Bitcoin Breakout Nears with Several Catalyst in Q4: Analyst
Exchange Appeals SEC’s Denial Of Rulemaking Petition
Bitcoin Forks: Pathways to Innovation or Disruptive Forces?
21.co integrates Chainlink’s proof of reserve on Solana and Ethereum
US SEC Chair Gary Gensler Confirms Congress Testimony, Here’s What To Expect
Azərbaycanda Rəsmi Say
ADA
Analysts Kick Against Cardano Recovery, Says ADA Price Is Destined For 33% Crash
Published
1 week agoon
September 15, 2024By
adminThe 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
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
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
Source link
After the SEC vs. Ripple Lawsuit, XRP price has been moving sideways. Without volatility, investors will likely look for XRP rivals with higher growth potential, allowing them to turn their portfolios from $1,000 to $10,000. This article outlines six such cryptocurrencies.
6 XRP Rivals With Potential To Turn $1,000 to $10,000
Here are the 6 XRP Rivals with huge potential in the upcoming bull rally that could help investors grow their holdings.
- Solana (SOL)
- Polygon (MATIC)
- TRON (TRX)
- Stellar (XLM)
- Cardano (ADA)
- Toncoin (TOM)
Solana
Built using the Proof of History (PoH) technology, Solana can transfer 65,000 transactions per second (TPS). Although this altcoin saw a massive selloff after the FTX collapse, the comeback of SOL since 2023 is nothing short of a miracle.
The connection between Solana and FTX founder Sam Bankman Fried, which was the reason for Solana’s downfall, eventually became the reason for its success. As a result, SOL surged by 2,527% between late December 2022 and mid-March 2024. This historic rally could be the start, considering the recent near-six-month consolidation that SOL price has slipped into.
The bull flag continuation pattern forecasts a breakout from the sideways movement could propel SOL by 1127% to $1,348, making Solana a prime XRP rival.
Polygon
From its All-Time High (ATH) of $2.923, the Layer 2 token has plummeted 88%. Since March 2024, MATIC price has shed nearly 70% of its value. Due to this massive collapse in Polygon’s market value, investors can buy this top altcoin at a discount.
Additionally, data from Santiment shows Polygon’s on-chain activity has shown an incredible uptick in the past few weeks. The spike in network growth coupled with daily active addresses reveals an inflow of new investors, aka capital, and a resurgence in existing investors. This development suggests Polygon price is ready for a takeoff by ending its near-three-year old consolidation range.
TRON
TRON is another key cryptocurrency that has stolen the spotlight in recent days. This development can be attributed to the founder Justin Sun, who has triggered a meme coin migration frenzy from Solana to the TRON ecosystem via the SunPump platform.
This development has caused a massive uptick in TRON fundamentals, a key XRP rival. If such value accrual updates are consistent, TRX price could propel higher, allowing investors to turn their investment in TRX from $1,000 to $10,000.
TRON forms an Adam and Even pattern that forecasts a 62% rally in the near term to $0.1971. As mentioned above, TRX could rally much higher if this outlook continues.
Due to their strong fundamentals, these cryptocurrencies could turn $1,000 to $10,000.
Stellar
The key reason for this cryptocurrency being an XRP Rival is the involvement of an ex-Ripple employee developing the Steller blockchain, a competitor of Ripple. This altcoin has remained unfazed despite multiple bear markets and will likely explode on the news that XRP is not a security.
XLM price trades at $0.009, a much higher discount than its rival XRP, making it a good investment. The upcoming bull rally could propel XLM price to retest the ATH at $0.798.
Cardano
Cardano whales have been actively accumulating over the past mid-2022. Wallets holding between 100K to 1M and 1M to 10M ADA have increased their balance from 5.67B and 5.57B to 6.02B and 5.7B, respectively.
This massive scale of accumulation shows that whales are anticipating a surge in Cardano price in the near future. ADA being an XRP rival, therefore, makes a good investment that could help turn $1,000 to $10,000.
Toncoin
Toncoin is the recently launched meme coin on the Telegram-linked TON blockchain. This coin has witnessed massive volatility due to the connection with Telegram founder Pavel Durov’s arrest. Since this is a newly launched cryptocurrency and an XRP rival, it has a higher chance of soaring.
TON price hit an ATH of $8.28 on June 14 and shows that it could rally even higher, especially if Durov is released with a clean bill, allowing this XRP rival to shoot into the stratosphere.
All in all, SOL, MATIC, TRX, ADA, XLM, and TON are the 6 XRP rivals that show huge promise of helping investors turn their investment of $1,000 into $10,000.
Frequently Asked Questions (FAQs)
The 6 XRP rivals are Solana (SOL), Polygon (MATIC), TRON (TRX), Stellar (XLM), Cardano (ADA), and Toncoin (TON).
These cryptocurrencies have strong fundamentals, technical analysis, and on-chain data indicating a bright future, making them potential alternatives to XRP.
Solana (SOL) is expected to surge by 1127% and reach $1,348 based on the bull flag continuation pattern.
Toncoin’s connection to Telegram founder Pavel Durov and its recent volatility make it a potential candidate for a massive rally, especially if Durov is released with a clean bill.
Akash Girimath
Akash Girimath is an engineer at core, but is interested in the chaos of the financial markets. Akash is senior report and analyst who also trades cryptos on a regular basis and maintains a small crypto fund for friends and family.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
ADA
Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’
Published
1 month agoon
August 17, 2024By
adminAug 17, 2024 19:17 UTC
| Updated:
Aug 17, 2024 at 19:17 UTC
By Clark
The cryptocurrency market is witnessing a resurgence of optimism as Cardano (ADA) and Sui (SUI) approach the $1 mark. This surge in confidence among holders reflects broader market dynamics, where investor sentiment and network developments play crucial roles in price movements.
As ADA and SUI gain momentum, their potential rise could have significant implications for related projects, such as RCO Finance (RCOF).
Let’s delve into the factors driving renewed confidence in ADA and SUI and explore how RCO Finance could benefit from these trends.
Cardano’s Resilient Long-Term Investors Signal Stability Amid Market Challenges
On Wednesday, August 14, 2024, IntoTheBlock, reported that a core group of long-term investors in Cardano (ADA) remains steadfast, indicating that, despite the current challenging market conditions, there may still be significant growth potential for the cryptocurrency.
The firm highlighted that the number of unique addresses holding Cardano has stayed relatively stable, hovering around 4.45 million for over a year. This consistency suggests a period of stabilization after a sharp increase in address growth during the last bull market when Cardano’s price reached an all-time high of $3.10 in September 2021.
Meanwhile, Cardano has been on a negative trend recently. According to Coinmarketcap data, ADA is trading at $0.336, a 4.63% decline from last week.
Despite this negative trend, indicators imply that Cardano’s price might be set for additional gains. The Keltner Channels (KC) indicator indicates significant resistance at $0.35 and support at $0.28. Should the price surpass the upper KC band of $0.35, it could initiate a bullish trend, potentially driving the price as high as $0.45 in a few weeks.
Grayscale Adds Sui (SUI) to Its Portfolio, Highlighting Huge Potential
On August 7, 2024, Grayscale Investments, a leading crypto asset management firm, expanded its portfolio with the introduction of two new cryptocurrency investment trusts, one of which includes the addition of Sui (SUI) to its product lineup.
The newly launched Grayscale Sui Trust is specifically designed to invest in SUI, the native token of the Sui blockchain. Sui is a layer-1 blockchain that has garnered attention for its robust support of decentralized applications (dApps).
According to Coinmarketcap data, the value of SUI has increased slightly. SUI is currently up 9.40% from last week and is trading at $0.935.
Conversely, some experts are bullish about SUI due to the recent growth in its total value unlocked (TVL). With the growing interest, SUI’s price could surge to $1.10 in a few weeks.
RCO Finance’s AI and Blockchain Platform Rises in Popularity
RCO Finance is an emerging DeFi project that has rapidly ascended the ranks thanks to its goal of simplifying investment processes. Additionally, RCO Finance is gaining attention due to its innovative platform, which leverages AI and blockchain technology.
This blend of advanced technologies places RCO Finance ahead of its competitors, contributing to its rapid expansion.
In particular, AI provides RCO Finance with unparalleled automation, while blockchain ensures security, transparency, and seamless interoperability. However, the standout feature of RCO Finance is its AI-driven robo-advisor.
This robo advisor employs cutting-edge algorithms and machine learning, making it the first truly AI-powered trading tool in crypto.
Through the robo advisor, investors receive personalized, data-driven investment recommendations. Specifically, the RCO Finance robo-advisor evaluates an investor’s risk tolerance and financial objectives, aligns them with current market conditions, and suggests profitable investment opportunities.
This strategy helps investors avoid cognitive biases and the emotions of greed and fear, which often lead to losses.
Moreover, the RCO Finance robo advisor charges lower fees than traditional financial advisors, providing investors with affordable access to professional investment management tools.
The RCO Finance robo-advisor also offers complimentary tax and financial legal advice, helping investors optimize their strategies while staying compliant with regulations. These features have made RCOF, the native token of RCO Finance, a popular choice among ADA and SUI investors seeking to diversify their portfolios.
Buy RCOF Now And Enjoy Massive Profits
RCOF serves as the native token of the RCO Finance protocol, with a total supply of 800 million tokens. Of this, 50% is designated for public sale, 20% for ecosystem development, and 12% for liquidity and market-making.
Additionally, 5% of RCOF’s supply is allocated for private sales and marketing each, while the team and advisors receive 4% and 2%, respectively. The remaining 2% is set aside for ecosystem rewards.
RCOF tokens are currently available for purchase through the official website during the ongoing presale, which is now in Stage 2. The token is priced at $0.0344 during this stage.
Investors who purchase RCOF during Stage 2 could potentially see significant returns. The token is expected to launch at $0.40, offering a potential gain of 1,066%. In contrast to tokens like SUI and ADA, which have seen price declines, RCOF presents a compelling opportunity for value preservation.
Beyond potential gains, holding RCOF also comes with additional benefits, including voting rights on governance proposals and substantial discounts on trading fees.
Token holders can further benefit by staking their RCOF tokens, earning up to 88% APY. Additionally, depending on the tokens held, they can receive a share of the platform’s revenues as dividends, ranging from 1% to 6%.
Investing in RCO Finance allows you to join other savvy investors in expanding your crypto portfolio, even in a broader market downturn.
For more information about the RCO Finance Presale:
Join The RCO Finance Community
Clark
Head of the technology.
#Press Release
This is a paid press release. Btcwires does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.
Source link
AI-Related Cryptos Lead Altcoin Surge; Bitcoin Breakout Nears with Several Catalyst in Q4: Analyst
Exchange Appeals SEC’s Denial Of Rulemaking Petition
Bitcoin Forks: Pathways to Innovation or Disruptive Forces?
21.co integrates Chainlink’s proof of reserve on Solana and Ethereum
Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish
US SEC Chair Gary Gensler Confirms Congress Testimony, Here’s What To Expect
Azərbaycanda Rəsmi Say
Neiro, Immutable X, Arkham pumps as Bitcoin stalls
Bitcoin (BTC) Will Thrive Regardless of US Election Outcome, Says VanEck’s Matthew Sigel
Chain Abstraction: Redefining Blockchain Innovation
How BitHide helps companies safely manage crypto
Will EOS Price Hit $1 Ahead of Spring 1.0 Hardfork?
SEC Greenlights Nasdaq Listing of Options for BlackRock’s Bitcoin ETF
DTX Exchange builds excitement with $2.67m presale as TON, XRP whales load up
Will Solana Price Reach $160 This Week?
Top Crypto News Headlines of The Week
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Bitcoin Open-Source Development Takes The Stage In Nashville
Ethereum, Solana touch key levels as Bitcoin spikes
Why Did Trump Change His Mind on Bitcoin?
Ethereum Crash A Buying Opportunity? This Whale Thinks So
New U.S. president must bring clarity to crypto regulation, analyst says
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Citigroup Executive Steps Down To Explore Crypto
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Mostbet Güvenilir Mi – Casino Bonus 2024
Crypto Market Movers: 5 Altcoins Making Waves This Bull Run
Dormant Bitcoin wallet from 2014 moves BTC worth $10.2m
Australia’s police joins global campaign to disrupt crypto scams
Trending
- 24/7 Cryptocurrency News1 month ago
Top Crypto News Headlines of The Week
- Bitcoin2 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
- Opinion2 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Bitcoin2 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Donald Trump2 months ago
Why Did Trump Change His Mind on Bitcoin?
- Altcoins2 months ago
Ethereum Crash A Buying Opportunity? This Whale Thinks So
- News3 weeks ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Price analysis1 month ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
✓ Share: