비투비카지노 【보증업체】 가입코드 이벤트 쿠폰 //ktsl888.com/news/cardano/ Bitcoin & Cryptocurrency News Today Thu, 17 Oct 2024 15:11:47 +0000 en-US hourly 1 //wordpress.org/?v=6.6.2 //ktsl888.com/wp-content/uploads/2024/05/cropped-favicon-2.png?fit=32%2C32 플레이토토 【보증업체】 가입코드 이벤트 쿠폰 //ktsl888.com/news/cardano/ 32 32 221170450 역사 속 카지노의 3대 재해；바카라사이트,카지노사이트,온라인카지노사이트 //ktsl888.com/news/cardano/cardano-bullish-pattern-suggests-a-breakout-can-ada-reach-0-54/ Thu, 17 Oct 2024 20:00:01 +0000 //ktsl888.com/?p=648506 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. 

Cardano testing symmetrical triangle upper-level 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. 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. ADA trading below the 200-day EMA 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. 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

]]> 648506 카지노사이트 아톰카지노；바카라사이트；카지노사이트킴 //ktsl888.com/news/cardano/cardano-whales-6-billion-0-5/ Sat, 12 Oct 2024 20:30:36 +0000 //ktsl888.com/?p=647603 In an interesting move, Cardano (ADA) has rebounded by almost 4% in the past 24 hours, in what seems to be an uptick in activity among large ADA holders. The price of ADA started the week on a bearish note and spent the majority of the week trending downwards. Particularly, the ADA price fell by about 9.5% to bottom out at $0.33260. However, the crypto has rebounded and has increased by about 6% from this low. 

This price rebound was accompanied by a large transaction volume, especially from large holders, also known as whales. According to data from IntoTheBlock (ITB), this transaction volume amounted to 17.33 billion ADA, worth about $6 billion.

Major Uptick In Cardano Whale Activity

The Large Transaction Volume metric from IntoTheBlock tracks details on transactions with a value of $100,000 or greater. Interestingly, this metric puts the worth of whale transactions at $24.18 billion in the past seven days, a notable increase from last week’s readings. A huge part of these transactions were recorded in the past three days, with $6 billion movements coming on October 11 and $5.8 billion on October 10. 

The uptick in whale activity appears to be closely linked to ongoing developments within the Cardano ecosystem. According to a recent report from InputOutput, Cardano has remained a major hub for blockchain developers, especially following the recent node upgrades to v.9.2.0 and the subsequent v.9.2.1. InputOutput’s data reveals that by the end of September, there were 1,376 active projects being built on Cardano, underscoring its popularity among blockchain innovators. Additionally, during September, the number of minted native tokens grew by 80,000, while the total number of transactions on the network surged by 1.34 million.

ADA Price To Reach $0.5 Or Drop Again?

ADA’s price action has been under intense scrutiny in recent weeks, and sentiment among investors has been more negative than usual, especially on social media. Cardano’s creator, Charles Hoskinson, addressed this sentiment on social media platform X.

Hoskinson clarified that the negative outlook doesn’t reflect any failure on Cardano’s part, emphasizing that the project continues to grow. He also took the opportunity to criticize other crypto ecosystems, remarking that Cardano remains one of the few cryptocurrencies still committed to being a true decentralized currency, unlike those aligning with corporate giants like BlackRock and Wall Street.

Related Reading: Bitcoin Price Crash: $1.83 Billion Makes Its Way To Exchanges, Is A Bloodbath Coming?

Despite the pessimism, the ADA price has managed to hold a key support level at $0.33, which offers some relief to bullish investors. Additionally, on-chain metrics such as net network growth and positive momentum in the futures market suggest a more optimistic outlook. The recent uptick in whale activity could signal the beginning of a more sustained rise for the ADA price.

Cardano At the time of writing, ADA is trading at $0.354. The first target is a significant break above $0.40 before a return to $0.50. Cardano ADA price chart from Tradingview.com ]]> 647603 인기 있는 베스트 온라인 카지노 TOP10 //ktsl888.com/news/cardano/cardano-faces-30-correction-risk-after-drop-in-large-holders-netflow-details/ Sat, 12 Oct 2024 13:00:30 +0000 //ktsl888.com/?p=647558 If ADA fails to break above the $0.36 resistance in the coming days, a 30% retrace to lower demand levels seems inevitable. Market participants are awaiting confirmation of either a breakout or further declines as the broader market remains uncertain. The next few days will be crucial for determining Cardano’s short-term direction.

Cardano Whales Leaving Early?

Cardano is at a crucial liquidity level, with on-chain metrics indicating a potential for further decline, especially given the significant decrease in whale activity. Recent data from IntoTheBlock highlights a concerning trend: ADA whales, or large investors, have increasingly sold their holdings over the past month. This trend is evident in the 100% fall in ADA’s large holders?netflow, which refers to the balance between the amount of the coin these addresses buy and the amount they sell.

Cardano Large Holders Netflow. Large holders are addresses with over 0.1% of Cardano’s circulating supply. When the flow declines, these investors sell more coins than they buy, signaling a potential loss of confidence in Cardano. This lack of confidence often trickles down to retail investors, leading them to sell their holdings. The drop in ADA’s whale concentration over the past month confirms this selling activity, raising concerns about ‘Smart Money’ potentially exiting the Cardano ecosystem. If this trend continues, it could push ADA below its current liquidity level, resulting in a deeper correction. Market participants are closely monitoring these developments, as the exit of large holders could signal a bearish sentiment that may lead to a significant price decline. As Cardano navigates this critical phase, investors will watch for signs of recovery or further weakness in the coming days.

Key Levels To Watch 

Cardano (ADA) is currently trading at $0.35 after experiencing days of choppy price action below the critical $0.36 resistance level. The price is 15% below the 1D 200 exponential moving average (EMA) at $0.40, a key area of resistance that bulls must overcome to reverse the prevailing downtrend. This crucial level was lost in April, and since then, ADA has failed to close above it four times. ADA failing to break above the $0.36 resistance. If the price continues to struggle, a deeper correction to fresh yearly lows at $0.25 could be in store. Such a move would represent a significant 30% retracement from current levels, further intensifying bearish sentiment in the market. Investors are aware of these critical price points, as a failure to reclaim the EMA and break through the $0.36 resistance may lead to increased selling pressure. Traders will look for signs of strength or weakness in ADA’s price action to determine the likelihood of a potential breakout or a more profound decline in the coming days.

Featured image from Dall-E, chart from TradingView

]]> 647558 심슨토토 【보증업체】 가입코드 이벤트 쿠폰 //ktsl888.com/news/cardano/cardano-ada-testing-0-34-support-on-chain-data-suggests-price-consolidation/ Thu, 10 Oct 2024 00:30:42 +0000 //ktsl888.com/?p=647114 With the entire crypto market in a state of anticipation, ADA’s upcoming price action will be key in signaling its next trend. As sentiment remains mixed, this consolidation period will likely set the tone for Cardano’s direction in the coming weeks.

Cardano Funding Rate Suggests Market Consolidation

Cardano (ADA) is showing signs of entering a potential consolidation phase, a crucial moment for investors as they evaluate the next move. Recent on-chain data highlights a surge in large transactions followed by stabilization, suggesting that the market is cooling off after weeks of volatility. This stabilization could pave the way for more balanced price action as ADA hovers around a key support level.

Coinglass data further reinforces the consolidation narrative. The ADA Open Interest (OI)-Weighted Funding Rate has declined yet remains positive. A declining but positive funding rate indicates that demand for ADA is slowing down, but not to a degree where the market expects heavy short-selling.

Cardano OI-wheighted funding rate declining. In crypto, when funding rates dip but stay in positive territory, the market consolidates rather than preparing for a sharp downward movement. This suggests that while ADA’s upward momentum has slowed, there isn’t yet an overwhelming bearish sentiment. If ADA manages to hold above current levels during this consolidation phase, it would signal healthy price action. The key is whether bulls can defend these levels, potentially leading to a more sustained rally in the weeks ahead. Investors must monitor these indicators closely as the market tests ADA’s resilience.

ADA Testing Crucial Support

Cardano (ADA) is currently trading at $0.34 after failing to reclaim two critical levels: the 4-hour 200 moving average (MA) at $0.356 and the 200 exponential moving average (EMA) at $0.359. These indicators are crucial for ADA to regain bullish momentum, and their rejection signals potential weakness in the price action. ADA testing crucial demand after losing both 1D 200 MA & EMA. Despite this, ADA is still holding above a key support level at $0.34. If this level is lost, the price could face a significant retracement, with lower demand levels around $0.32 and potentially $0.30 being tested. This makes the $0.34 support critical for maintaining current market sentiment. Conversely, if ADA can reclaim the 4-hour 200 MA and 200 EMA, breaking above $0.36, it could set the stage for a rally toward higher resistance levels. The next significant supply zone to watch would be around $0.41, where further bullish momentum could face its next challenge.  The coming days will be pivotal for ADA as it consolidates and prepares for its next move. Investors are closely monitoring these key technical levels to gauge the short-term direction of the price action.

Featured image from Dall-E, chart from TradingView

]]> 647114 라이브카지노；카지노사이트；온라인카지노；카지노사이트킴 //ktsl888.com/news/cardano/cardano-price-ada-price-5/ Wed, 09 Oct 2024 02:00:21 +0000 //ktsl888.com/?p=646890 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. 

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. 

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.  Cardano ADA price chart from Tradingview.com ]]> 646890 바카라게임；바카라사이트,카지노사이트,온라인카지노사이트 //ktsl888.com/news/cardano/hoskinson-claims-cardano-is-still-1-crypto-citing-decentralization-and-upcoming-plans/ Sat, 05 Oct 2024 10:00:10 +0000 //ktsl888.com/?p=646354 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.”?/p>

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.?/p> 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).

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.

Cardano

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 ]]> 646354 야구 토토 사이트 2024 KBO 프로야구 팀 분석 //ktsl888.com/news/cardano/cardano-first-green-september/ Wed, 02 Oct 2024 14:30:46 +0000 //ktsl888.com/?p=645857 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.

Cardano 1 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. 

Cardano 2

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. 

Cardano ADA price chart from Tradingview.com ]]> 645857 메이저 토토 사이트 원탑 Archives；카지노사이트킴 //ktsl888.com/news/cardano/cardano-ada-faces-risk-of-30-drop-on-chain-metrics-confirm-a-slow-demand/ Tue, 01 Oct 2024 23:00:18 +0000 //ktsl888.com/?p=645604 As the market awaits further developments, investors are closely watching for signs of a reversal or continuation of the uptrend, understanding that ADA’s next move could set the tone for its performance in the weeks ahead.

Cardano Indicator Shows Concerning Data

Cardano faces a significant risk of a 30% drop to its yearly low of around $0.27, as on-chain data from Santiment reveals rising selling pressure and diminishing demand. 

The warning signs for ADA’s price have become clearer, with its daily active-address (DAA) divergence showing a negative reading of -43.3% at the time of writing. This metric, which tracks the correlation between an asset’s price movements and changes in its daily active addresses, has remained negative since September 7, indicating a troubling trend for Cardano. Cardano price daily active-address (DAA) divergence. The negative DAA divergence suggests that much of ADA’s rally this month, following the Federal Reserve’s interest rate cuts, has been fueled more by broader market sentiment than by any specific demand for ADA itself. This lack of organic demand increases the likelihood of a steep correction shortly. Without sustained buying pressure, Cardano’s price could drop sharply as traders begin to lock in profits, further driving prices downward. If ADA fails to break above its current resistance level of around $0.41, analysts expect a deeper correction, potentially pushing the price back to the yearly low of $0.27. With weakening demand and increasing selling pressure, Cardano’s near-term outlook looks uncertain, and traders are bracing for further downside risk.

ADA Price Action: Testing A Crucial Supply Level

ADA trades at $0.38, following a 10% dip from its daily 200 exponential moving average (EMA) at $0.41. This level has become a crucial resistance area, as the price formed a new local high around this zone. ADA must reclaim the $0.41 level and push above the next key resistance at $0.45 to confirm a bullish trend for the coming weeks. Successfully breaking past these levels would signal renewed strength, giving the bulls control and potentially leading to higher prices. ADA trading below the 1D 200 EMA. However, if ADA fails to push above these critical levels, the altcoin could face further downside pressure. A failure to reclaim $0.41 and surpass $0.45 would likely result in increased selling, triggering a potential 30% drop. In such a scenario, ADA would be at risk of revisiting its yearly low of around $0.27.  Given the current market uncertainty and declining demand, traders are carefully watching ADA’s price movements, as the next few days could be pivotal for determining whether a bullish breakout or a deeper correction is on the horizon.

Featured image from Dall-E, chart from TradingView

]]> 645604 뉴헤븐카지노 ；온라인 카지노 사이트 | 바카라 게임- 온라인 카지노 //ktsl888.com/news/cardano/analyst-warns-of-a-super-signal-for-cardano-ada-could-it-outperform-bitcoin/ Fri, 27 Sep 2024 04:00:29 +0000 //ktsl888.com/?p=644924 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.

Cardano

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.

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.  Cardano Featured image from DALL-E, chart from TradingView.com ]]> 644924 프라그마틱 조작 ；온라인 카지노 사이트 | 온카패스- 온라인 카지노  //ktsl888.com/news/cardano/cardano-ada-eyes-20-price-surge-funding-rate-suggests-increasing-demand/ Fri, 27 Sep 2024 00:00:47 +0000 //ktsl888.com/?p=644700 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. Cardano positive funding rate at 0.0105%. 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. 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. Cardano trading less than 5% below the 1D 200 EMA. 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. 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

]]> 644700