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Cardano Bullish Pattern Suggests A Breakout – Can ADA Reach $0.54?
Published
2 months agoon
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adminCardano (ADA) is crucial following days of heightened volatility and excitement among crypto investors. While other altcoins have experienced significant pumps, Cardano has yet to see the same breakout, leaving analysts and traders searching for confirmation of a bullish trend.
Despite the lack of a major move, optimism remains high for ADA as market watchers await a signal to ignite the rally.
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Top analyst and investor Carl Runefelt recently shared a technical analysis suggesting that Cardano could be on the verge of a bullish rally, potentially pushing ADA to $0.54.
This prediction has generated excitement within the Cardano community, but the next few days will be critical in determining whether ADA can follow through with a breakout.
As the market remains volatile, traders will closely monitor Cardano’s price action for signs of a confirmed uptrend.
Cardano Holding Above Key Level
Cardano is trading above a key resistance level at $0.33, sparking optimism among analysts and investors. This crucial price point could be the springboard that propels ADA to new highs.
Analysts in the crypto community believe that Cardano is poised for a breakout, and some expect a rally in the coming days.
Prominent investor and analyst Carl Runefelt recently shared a technical analysis on X, highlighting a bullish pattern forming on Cardano’s chart. According to Runefelt, if ADA manages to break this pattern to the upside, the next target could be as high as $0.54, representing a potential 58% gain from current levels.
This prediction has generated excitement, as ADA holders are looking for signs of a sustained upward trend after a period of consolidation.
However, not all scenarios point to a smooth ride for Cardano. If ADA fails to break above this pattern, further consolidation or a potential correction could be on the horizon.
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The $0.33 level is now a key marker for traders and investors to watch closely in the coming days, as it could signal the beginning of a major price move—or the continuation of a more uncertain path for Cardano.
ADA Technical Analysis
Cardano’s (ADA) price action has been underwhelming compared to other altcoins. Currently trading at $0.34, ADA has seen a 7% decline from its recent high of $0.37 set on Tuesday. Despite some volatility, the price remains below the critical 200-day exponential moving average (EMA) at $0.40, following a failed breakout attempt in late September.
For the bulls to regain control, ADA must reclaim the $0.40 level and push toward setting a new local high above $0.41. A breakout above these levels would signal a potential momentum shift and spark renewed optimism among investors.
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However, exceeding the $0.34 mark could lead to further downside pressure. If this level is lost, a correction to lower demand areas around $0.30 is expected. Traders are watching closely, as this level could determine whether Cardano will continue to underperform or regain its footing in the market.
Featured image from Dall-E, chart from TradingView
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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.
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.
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.
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.
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.
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Crypto Whales Gobble Up Nearly $149,600,000 Worth of Cardano and Large-Cap Memecoin in Just Two Days: Analyst
Published
1 week agoon
December 16, 2024By
adminAn 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!”
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!”
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.”
At time of writing, Bitcoin is trading for $101,946.
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Will Cardano Price Reach ATH If It Mirrors Its 2021 Rally?
Published
1 week agoon
December 13, 2024By
adminCardano 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.
The Cardano milestones of $3, $7, and $14 do not look far at all when you open up a daily chart.
Super. Cycle. pic.twitter.com/NvSw0p7z4o
— Dan Gambardello (@cryptorecruitr) December 13, 2024
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.
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.
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.
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