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According to our Cardano price prediction, ADA is likely to cross above its 21-day moving average, which is expected to lead to an uptrend of 3.37%.
Cardano Forecast Statistics Data:
- Cardano Current Price – $0.33
- Cardano Market Cap – $12.3 Billion
- Cardano Circulating Supply – 35.9 Billion
- Cardano Total Supply – 37.1 billion
- Cardano CoinMarketCap Ranking – #11
It is often recommended to get involved in cryptocurrency projects as early as possible, and Cardano (ADA) is a prime example of why timing can be crucial. Since its all-time low of $0.01735 in October 2017, the token has surged an impressive 1880.68%. Those who got in early have seen significant gains, even though the current price is well below its all-time high of $3.10, which was reached in September 2021. The token has currently fluctuated between $0.3363 and $0.3484 over the past 24 hours, reflecting the dynamic nature of the market.
ADA/USD Market
Main levels:
Resistance Levels: $0.40, $0.42, $0.44
Support Levels: $0.26, $0.24, $0.22
At the time of writing, ADA/USD is trading in the green as it prepares to break above the 21-day moving average. According to the daily chart, the candle formation is currently following an uptrend, but a slide below the 9-day moving average could send the market price south again, with the nearest support level being around $0.30.
Cardano Price Prediction: ADA/USD Could Rise
Cardano price has been experiencing price volatility recently, with an initial bullish rally at the beginning of the week followed by a downward rejection. This analysis explores the current price action of ADA, focusing on key support levels and potential bounces. Conversely, the current support at $0.32 is significant. If this level holds, Cardano could consolidate around it, but if it breaks, the next significant support is $0.28. Additionally, the long-term trendline that has historically supported the price will play a key role in determining whether ADA can hold its current levels.
Meanwhile, the future of Cardano is largely dependent on Bitcoin’s performance and the overall market sentiment. If Bitcoin is strong, Cardano can consolidate and maintain support. However, in a situation where the bearish momentum is dominant, there is a high risk that ADA will fall to lower levels, especially if the market conditions do not improve. Traders should closely watch the key support levels and the implications for Bitcoin. If the selling volume increases, the key support could be at $0.26, $0.24, and $0.22. Nevertheless, the 9-day MA is below the 21-day MA, but if the uptrend is strong, the market could move higher.
ADA/BTC may start a bullish move.
As for Bitcoin, buyers are pushing Cardano price above the 9-day and 21-day moving averages. Meanwhile, the closest resistance level in the uptrend is near the upper boundary of the channel, above 700 SAT.
Conversely, the nearest support could be at 580 SAT, and if the price falls further to make a new low, it could find lower support below 525 SAT. On the other hand, if the 9-day MA crosses above the 21-day MA, it could be a confirmation that the market is likely to follow an uptrend.
However, @WorldOfCharts1 shared with his 34,000+ followers on X (formerly Twitter) that #Cardano (ADA) is positioned for a strong bounce and is currently consolidating within a classic falling wedge pattern. A successful breakout of this setup could see #ADA reach the $1 target with impressive momentum. 🚀
$Ada #cardano (ADA) is preparing for a significant rebound and is currently consolidating within a classic falling wedge pattern. If it successfully breaks out of this formation, #ada Going straight for $1 with amazing momentum. 🚀 pic.twitter.com/hd8SwJJsdK
— World of Charts (@WorldOfCharts1) September 8, 2024
Alternatives to Cardano
Cardano is trading near $0.33 and could break above the 21-day moving average. The nearest resistance level within the descending channel is $0.35, followed by $0.38. If the market gains momentum, it could face additional resistance near the upper boundary of the channel. Meanwhile, traders are keeping an eye on Pepe Unchained ($PEPU), a rising cryptocurrency that has been gaining significant market interest. The project raised around $13 million in its pre-sale and is gaining popularity on platforms like CoinMarketCap and Binance. Pepe Unchained also boasts strong social media engagement with over 12.4k Twitter followers and an active community, further adding to its visibility.
This cryptocurrency is the next Pepe Coin (100X GEM). Pepe Unchained
Moreover, Pepe Unchained presents an exciting opportunity for investors looking to capitalize on the next big meme coin with 100x potential. The project is positioned for significant growth with its blockchain, low transaction fees, fast processing speeds, and a respectable 170% APY on staking. Don’t miss out on being a part of this groundbreaking project.
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