Connect with us

ADA

Analyst Says $5 ADA is Within Reach

Published

on


Cardano price is on the verge of a major rally, according to an analyst who believed the crypto asset could reach a $5 valuation. With a strong and growing foundation in the blockchain space, Cardano is well-positioned for substantial growth. The analyst emphasizes that Cardano’s well-established reputation and potential ETF approval drive this bullish outlook.

ADA price is trading at $0.3631, which represents an increment of 0.1% in the last 24 hours. 

Cardano Price Set to Soar: Analyst Says $5 ADA is Within Reach

On the weekly chart, Cardano has gained 1.7% and is slowly rising. The asset is in a bullish structure that promises a 33% breakout, but that is only the beginning of its bullish future.

Growth Factors For Cardano Price To Soar to $5

Popular YouTube crypto analyst Crypto With James shared his insights into ADA. He thinks the asset is headed to $5, which is a significant upside from the current $0.36 per coin.

Among other things, he cites several things that could spur the price of ADA to $5:

  • Smart contract compatibility on the network has led to a growth spurt in development since 2021.
  • Plutus, Helios, and other advanced developer tools on the Cardano network have improved the onboarding process for developers, making it easy to create decentralized applications (dApps).
  • The presence of account abstraction and Zero-knowledge primitives enhances privacy and allows users from other chains to interact seamlessly with Cardano.

According to Santiment data, development activity on Cardano has been ranging for nearly one year since crashing in December 2023. Although Cardano development activity has dropped by 14% in the last seven days, Santiment also shows it remains the fourth largest crypto asset in network and protocol development.

Cardano Price Set to Soar: Analyst Says $5 ADA is Within ReachCardano Price Set to Soar: Analyst Says $5 ADA is Within Reach

Developers and analysts expressed optimism about Cardano’s future, citing its robust infrastructure and potential for significant ADA price appreciation.

ADA Price Analysis Reveals Path to $0.55?

The Cardano price action is consolidating within an ascending triangle, showing higher lows but relatively consistent highs, indicating a potential buildup for a breakout. There has been sustained selling pressure since mid-2023, as indicated by the downward-sloping red trendline, which has acted as dynamic resistance multiple times (denoted by red arrows).

On the way up, Cardano price may encounter resistance at $0.4501, which aligns with both the upper bound of the trendline and the 200-period moving average (black line), representing a strong psychological barrier. Price needs to break decisively above this level to confirm a reversal in the trend toward $5.

Cardano priceCardano price
Cardano Price Analysis Chart

Strong support around $0.310 has consistently held during the recent downtrend. However, if the price breaks below this level, it could signal market weakness, turning ADA bearish. Cardano would find lower support, around $0.28 and $0.23.

Can Cardano Price Reach $5?

Yes. The probability of ADA surging to $5 is not out of this world. Currently, ADA’s market cap stands at $12 billion. From the current price to $5, that would be a 1,288% increase. Factoring this into the market cap and assuming supply remains the same, Cardano would swell to a $166 billion market cap.  This is not a far-fetched figure, as the Cardano price hit an all-time high of $3.10 in the 2021 bull run.

Frequently Asked Questions (FAQs)

Analysts believe Cardano could surge to $5 due to its growing development, smart contract compatibility, and optimism about potential ADA ETF approval.

Cardano is currently in a bullish structure, with a potential 33% breakout on the horizon. If it breaks above key resistance levels, analysts believe it could start its journey toward $5.

Yes, analysts see a realistic possibility of Cardano reaching $5 during the next bull run. This would represent a 1,288% increase from its current price.

Related Articles

✓ Share:

Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

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

Top 4 Altcoins to Hold Before 2025 Alt Season

Published

on


The crypto market shows signs of resurgence, offering investors lucrative opportunities. These four Altcoin to Hold stand out with potential for significant growth before 2025. Backed by promising fundamentals, they are strong contenders for a surge during the anticipated bull market.

 Altcoins to Hold: XRP

XRP price has surged by 100% over the past month, reaching $2.24 during a strong market rally. Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), which appears close to a favourable resolution, has significantly boosted investor confidence.

Market bulls are defending the $2.05–$2.20 support range, a key area attracting substantial buyer interest. Analysts suggest a break above $2.60 could lead to more upside momentum, with $3.00 as the next psychological target. XRP continues to shine as one of the top altcoins to hold before 2025.

Source: X

DexBoss (DEBO) 

DexBoss (DEBO), selling for $0.01 in its presale, is drawing attention from cryptocurrency enthusiasts. This memecoin stands out by combining humor with blockchain-based utility. Unlike typical short-lived memecoins, DexBoss offers a robust ecosystem featuring decentralized token swaps, staking opportunities, and exclusive NFT releases. 

Its unique approach appeals to both speculative investors and long-term holders. DexBoss’s foundation of blockchain technology positions it as more than a fleeting trend. The coin’s diverse features make it an intriguing option for those seeking innovation and potential in the cryptocurrency market.

Sui (SUI)

Sui (SUI) price has risen to $4.59, marking a 2% surge and highlighting its growing market appeal. The Layer 1 blockchain platform is gaining recognition for delivering fast, private, and secure digital asset management making it altcoin to buy. 

Known for its efficiency, Sui has seen a steady rise in Total Value Locked (TVL). Analysts view this momentum as a sign of investor confidence ahead of the anticipated 2025 altcoin season. With its innovative smart contract solutions, Sui continues positioning itself as a top contender among altcoins in the competitive blockchain ecosystem.

https://defillama.com/chain/Suihttps://defillama.com/chain/Sui
Source- DefiLIama

Dogecoin (DOGE)

Dogecoin (DOGE), a prominent meme-based cryptocurrency, recently recorded a significant price surge despite slight market corrections. The DOGE price has climbed 250% over the past year, trading at $0.332 at the time of writing. This remarkable growth underscores its rising popularity among investors and its appeal as a potential altcoin to hold before the anticipated 2025 alt season.

Notably, whale transactions involving Dogecoin have spiked, reflecting heightened activity among large holders. In late October, transactions exceeding $100,000 saw a sharp increase. This trend signals growing whale interest, which could further influence market dynamics and fuel continued momentum for DOGE’s price trajectory.

Source: Santiment

As crypto market dynamics shift, focusing on Altcoin to hold can yield substantial returns. These four assets offer growth potential, innovation, and community-driven resilience, making them a must-watch for 2025.

Frequently Asked Questions (FAQs)

XRP, DexBoss, Sui, and Dogecoin are top recommendations.

XRP shows bullish trends with potential legal clarity boosting confidence.

DexBoss offers utility through token swaps, staking, and NFTs.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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

Continue Reading

ADA

Crypto Whales Gobble Up Nearly $149,600,000 Worth of Cardano and Large-Cap Memecoin in Just Two Days: Analyst

Published

on


An on-chain analyst says deep-pocketed investors are loading up massive amounts of Cardano (ADA) and a top memecoin as the market went sideways for the past week.

Analyst Ali Martinez tells his 98,800 followers on the social media platform X that crypto whales accumulated $85.6 million worth of ADA in a couple of days.

“Cardano whales bought over 80 million ADA in 48 hours!”

Image
Source: Ali Martinez/X

At time of writing, ADA is trading for $1.07.

Martinez also says deep-pocketed investors snapped up $64 million worth of the large-cap memecoin Dogecoin (DOGE).

“Whales bought another 160 million Dogecoin DOGE in 24 hours!”

Image
Source: Ali Martinez/X

At time of writing, DOGE is worth $0.40.

In total, the crypto whales accumulated nearly $150 million worth of ADA and DOGE in just two days during the past week.

Turning to Bitcoin, Martinez says he’s looking at BTC‘s In/Out of the Money Around Price (IOMAP) metric. IOMAP classifies crypto addresses as either profiting, breaking even, or losing money – to determine support and resistance levels for BTC.

According to the analyst, Bitcoin has a fortress of support above $94,000 as millions of wallets accumulated millions of BTC around and above the price area.

“Bitcoin sits on top of a significant support wall between $94,300 and $100,250, where 2.25 million wallets bought over 2.18 million BTC.”

Image
Source: Ali Martinez/X

At time of writing, Bitcoin is trading for $101,946.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney





Source link

Continue Reading

ADA

Will Cardano Price Reach ATH If It Mirrors Its 2021 Rally?

Published

on


Cardano price, a proof-of-stake cryptocurrency, has recently witnessed a significant price increase amid a broader market rally. The altcoin’s upward momentum reflects heightened investor interest, paralleling gains in other cryptocurrencies. With December promising further potential, ADA enthusiasts are speculating whether its price could revisit all-time highs, mirroring its impressive 2021 rally

Is Cardano Price to Reclaim Its ATH From the 2021 Bull Run?

Cardano price is regaining traction as bullish sentiment returns to the cryptocurrency market. The top altcoin shows signs of recovery, with its price reclaiming $3.10 and sparking optimism among investors. The market now watches closely as ADA aims to surpass its previous cycle’s all-time high.

Cardano’s all-time high was $3.10 on September 2, 2021. At the time of reporting, the cryptocurrency is still 63.71% below this peak. However, recent price movements suggest a growing potential for a breakout.

Market analysts attribute the renewed bullish momentum to the broader crypto rally. Several key altcoins, including Cardano, are benefiting from increased investor confidence. With the current trajectory, ADA could move closer to reclaiming its 2021 high if market conditions persist.

Crypto Analyst Eyes Bullish Break Out For ADA

A crypto analyst recently shared an intriguing insight on X post, highlighting Cardano’s potential growth trajectory. The tweet emphasized that ADA may soon achieve $3, $7, and $14 milestones, aligning with a broader market “super cycle.”

The post included a chart showcasing ADA’s significant price levels, framing the $14 mark as a pivotal milestone. It also highlighted a $500 billion market capitalization benchmark, suggesting a bullish perspective on Cardano’s future growth.

At the time of writing, the ADA price is trading at $1.08, marking a 3.66% decline in daily performance. Despite the dip, technical indicators suggest pivotal movements ahead for the Cardano token.

If the bullish trend gains momentum, the top altcoin could rally to the $2 mark, fueled by increasing trading activity and strong investor sentiment. A continuation of this bullish trajectory might propel the price to $3.10, mirroring its 2021 all-time high. However, if bearish forces dominate, ADA could retrace further to $1, potentially erasing recent gains.

The MACD indicator highlights a bearish crossover, with the signal line at 0.1209 and the MACD line at 0.0912. The Chaikin Money Flow (CMF) remains positive at 0.11, pointing to sustained buying interest despite price declines. This suggests that market participants are still optimistic about ADA’s long-term potential.

Will Cardano Price Reach ATH If It Mirrors Its 2021 Rally?Will Cardano Price Reach ATH If It Mirrors Its 2021 Rally?
Cardano Price Chart: TradingView

While Cardano’s recent momentum hints at the potential for a bullish breakout, its ability to reclaim the 2021 ATH will depend on sustained market confidence and overcoming bearish resistance.

Frequently Asked Questions (FAQs)

Cardano’s all-time high price is $3.10, reached on September 2, 2021.

Cardano’s price could potentially revisit its ATH if market conditions remain favorable.

If bullish momentum continues, Cardano could reach $2, potentially revisiting $3.10.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon