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CATEGORY: ada bull run


Apr 13, 2024 12:05

Cardano (ADA) Prints Undeniable Bull Run Signal: Crypto Analyst

The price of Cardano (ADA) has experienced a decline in recent weeks. Following a peak at a 23-month high at $0.808 on March 11, the price of ADA has fallen by over 28%, and it is now hovering just below the $0.60 level. Notably, Cardano has underperformed compared to its competitors, slipping to the 10th position among the largest cryptocurrencies by market cap. However, a crypto analyst, known as Trend Rider (@TrendRidersTR) on X, has declared that ADA is showing clear signs of a bull run based on technical analysis of its Relative Strength Index (RSI) and Simple Moving Average (SMA) crossovers. What This Means For Cardano Price According to Trend Rider’s recent post on X, Cardano’s current market behavior mirrors a rare pattern in the one month chart (ADA/USD) observed only once before, which led to a significant price surge from $0.05 to $3.00. Related Reading: Cardano At Risk Of Crashing To $0.4 As Important Metrics Turn Bearish The analyst emphasized, “ADA’s undeniable bull run is here. With its second RSI crossover in history, it’s reminiscent of when prices soared from $0.05 to $3. This rare event, marking a potential trend shift as the RSI crosses its SMA, has flawlessly predicted past cycles shifts at it’s early stages. The analysis presented by Trend Rider focuses on the RSI, a momentum oscillator that measures the speed and change of price movements, and its crossover with the SMA, a common trading signal interpreted as a potential bullish or bearish market indicator. The post details three critical phases in Cardanos recent market activity. The first crossover occurred shortly after the COVID-19 pandemic onset when ADA traded at $0.19, marked by a substantial price increase following the crossover event. At the end of the 2021 bull run, a bearish crossover took place that heralded a prolonged bear market. Notice how perfect the bearish crossover anticipated the bear market. This is an extremely strong validation for this indicator. Making it very relevant to predict ADA long term cycles, the analyst states. The second bullish crossover of the RSI with the SMA occurred in October and November 2023, this event was initially met with market rejection a few months earlier, adding credibility to the indicator’s reliability in predicting long-term market trends. Related Reading: Where It Should Be: Crypto Analyst Remains Firm On $1.7 Prediction For Cardano (ADA) Trend Rider concludes, “The RSI and its SMA crossovers are an extremely reliable source to identify ADA bull runs and bear markets at its early stages.” This analysis suggests that Cardano is currently entering a bull market phase, reinforcing the optimistic outlook for ADA. Moreover, the analyst warned the one-month chart reflects a macro perspective for holders, each candle represents one month, so you can expect huge volatility within each candle. Furthermore, he cautioned of the inherent risks in crypto investments, noting the importance of a personalized investment strategy to navigate potential market volatility and unforeseen events, often referred to as ‘black swan’ events. “VERY IMPORTANT: Personally, these macro charts help me see the bigger picture, but I always use my own process to secure profits and protect myself from any black swan event,” Trend Rider added. If history is any indicator, the current patterns could spell a lucrative phase for Cardano holders, but as always in crypto markets, caution remains a critical companion to enthusiasm. Featured image from Biztech Africa, chart from TradingView.com

Nov 25, 2024 12:05

Bullish Signs For Cardano: Expert Forecasts $6 Price Target As Buying Pressure Grows

Cardano (ADA), currently ranked as the ninth-largest cryptocurrency, has emerged as one of the market’s top performers. It has experienced an impressive 108% increase over the past two weeks, propelled its price to a 32-month high, fueled by a wave of bullish sentiment following Donald Trump’s presidential victory on November 5. Potential For Cardano To Reach New All-Time Highs Crypto analyst Ali Martinez recently highlighted ADAs massive performance in a post on X (formerly Twitter), noting that the cryptocurrency has surged nearly 200% in the last three weeks. Despite this significant increase, Martinez suggests that even greater gains may be on the horizon. In his analysis, Martinez pointed out that whales and institutional investors strategically positioned themselves for future price movements. He reported that the volume of large transactions on the Cardano network has surpassed $22 billion daily, indicating a high accumulation level among significant holders.  Notably, whalesindividuals or entities holding between $1 million and $10 million in ADAhave increased their positions by over 100% in the past month, signaling confidence in Cardano’s potential. Related Reading: XRP Price Outlook Brightens: Expert Predicts $2 Target Post-Gensler Era Martinez further elaborated on ADA’s price action, suggesting that the ongoing buying pressure mirrors patterns observed in previous bullish cycles. He posits that if this trend continues, Cardano’s price could target the $6 mark, which would nearly double its all-time high of $3.09 reached during the 2021 bull run.  Such a price increase would represent a staggering 461% surge from its current levels. Yet, for this bullish thesis to hold, Martinez emphasizes the importance of $0.80 support.  The analyst notes that approximately 48,000 ADA addresses purchased nearly 1.20 billion coins at this price point, which may provide a solid foundation for future growth.  Previously, Martinez predicted that if history repeats itself, the Cardano price could see a market top by September 2025, suggesting 10 months of what could be one of the biggest gains not only for ADA but for the broader crypto market. ADA Price Targets $1.25 Resistance Level Further supporting Martinez’s bullish predictions, other analysts have weighed in on Cardano’s (ADA) recent performance. Rekt Capital has noted a “phenomenal run” for ADA, indicating that the cryptocurrency has confirmed a new macro uptrend.  Rekt highlighted that the last time ADA broke through the $0.72 level, the price subsequently rallied to its $3 record peak, suggesting a similar potential for future growth. Related Reading: Ethereum Attempts Key Breakout: Analysts Set Next Target As ETH Reclaims $3,200 Another analyst, known as Sssebi, shared his insights predicting that once ADA surpasses the $1.60 mark, it could experience a swift ascent to $2.40. He emphasized that this upward momentum would set the stage for an all-time high to be within reach.  However, the analyst also cautioned that the next resistance area to watch is at $1.25, indicating that while the outlook is optimistic, a retracement could occur in the near term. At the time of writing, ADA was trading at $1.07, down 1% for the 24-hour period. Featured image from DALL-E, chart from TradingView.com

Nov 17, 2024 12:05

Cardano (ADA) To Reach $6 By September 2025? Analyst Forecast 2021-Like Rally

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 ADAs chart reassembled a pattern similar to 2020, which suggests that the cryptocurrency could experience a rally like 2020-2021s 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 markets recent rally, fueled by Trumps victory in the US elections and the Federal Reserves 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 legs 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 cycles 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 Todays 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 Cardanos potential involvement with Trumps 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 DOGEs 110% Rally Speculation arose when another X user claimed that Cardanos 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

Cardanos (ADA) Bullish Surge: Is a Breakout Above $1 Imminent?

Author: Arslan Tabish
Estonia
Jan 11, 2025 02:30

Cardanos (ADA) Bullish Surge: Is a Breakout Above $1 Imminent?

Cardano (ADA) is set to continue with the bullish trend after some consolidation and retracement had taken place. The analysis indicates that the cryptocurrency has stable technical support; its further price increase is expected. In a recent X post, Alan Santana pointed out that a falling wedge pattern, which is considered a bullish pattern, has […]

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