Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Cardano Price Goes Above $5? — Historical Data Reveals Interesting ADA Trajectory ⋆ ZyCrypto
    Cryptocurrency

    Cardano Price Goes Above $5? — Historical Data Reveals Interesting ADA Trajectory ⋆ ZyCrypto

    August 17, 20243 Mins Read


    Cardano Price Eyes 30% Rally As ADA Accumulation Accelerates Among Whales and Sharks

    Advertisement

    &nbsp

    &nbsp

    Cardano (ADA) has continued to face a challenging period since March, marked by a persistent downtrend exacerbated by a broader slump in the cryptocurrency market.

    Despite a brief rally attempt in mid-July, ADA’s momentum has been hindered by a recent market downturn. Bitcoin led a global crypto market cap drop of nearly $500 billion in the last 30 days. However, some analysts are bullish on Cardano’s future, citing historical data that suggests the cryptocurrency could be on the cusp of a significant surge.

    Javon Marks, a noted cryptocurrency analyst, recently projected a possible rally that could see ADA surpass the $5 mark. In a tweet, the pundit emphasized that the cryptocurrency’s current price levels suggest a potential increase of over 732%, targeting a price of $2.77 in the shorter term.

    Notably, Marks’ analysis is built on observations of ADA holding steady after breaking out of a significant resistance level. He noted that the cryptocurrency has demonstrated hidden bullish divergences, which could imply that the recent pullback might be temporary. Marks further noted that if Cardano adheres to historical trends, it could experience remarkable growth ranging from 1,400% to 2,200%, with prices possibly climbing to as high as $5.30 or even $7.82.

    Elsewhere, in a post on the popular charting platform Tradingview, analyst “VanguardCobra” pointed to technical indicators that might support an imminent price increase. Notably, the pundit’s analysis highlighted ADA’s position at the bottom of a “megaphone” pattern and within an ascending wedge formation. The anticipated breakout from this pattern and a positive divergence in the MACD indicator could signal a potential upswing to $1.20.

    AdvertisementFollow ZyCrypto On Google News

    &nbsp

    However, despite these optimistic projections, several experts have cautioned that ADA may continue to dip until it reaches a long-standing support level at $0.24, where they expect a substantial bull run to unfold.

    These forecasts come as Cardano prepares for its highly anticipated “Chang” hard fork. According to CardanoFeed on X, 79% of network nodes, including stake pool operators (SPOs), have signaled their readiness for the upgrade. The Cardano community is now eagerly eyeing August for its implementation. The Chang hard fork is expected to bolster decentralization and enhance network coordination significantly. Additionally, it will introduce a new governance system and a substantial ADA treasury featuring 1 billion tokens.

    Moreover, Cardano’s development activity continues to thrive, as reflected in its high ranking on Santiment’s development activity charts. This robust innovation and the upcoming hard fork could serve as additional catalysts for ADA’s price movement in the near future.

    According to CoinMarketCap, ADA traded at $0.3348 at press time, reflecting a 1.51% surge over the past 24 hours.




    Ads by Cointraffic



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Fake Uber Driver in London Drugs US Tech Investor with Cigarette, Steals £96K in Cryptocurrency

    Cryptocurrency

    SEC Dismisses Lawsuit against Binance

    Cryptocurrency

    India’s Digital Payment Surge: Currency and Convenience

    Cryptocurrency

    Appeal against important court ruling about cryptocurrency in South Africa – MyBroadband

    Cryptocurrency

    CoinClinic: What is Cryptocurrency? – Numismatic News

    Cryptocurrency

    DOL Rescinds 2022 Guidance Cautioning Against 401(k) Plan Investments in Cryptocurrencies | Proskauer – Employee Benefits & Executive Compensation Blog

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Republicans See Digital Currency Shaping 2024 Elections — Survey

    Investments

    Nevada teen charged with killing retired police chief unfit to stand trial

    Fintech

    Smart Data Foundry and Research Data Scotland Announce New Partnership – FF News

    Editors Picks

    Inland Empire schools propose $3.6 billion in bonds

    October 24, 2024

    Robbie MacDonald named IQUW Head of Property

    July 23, 2024

    Off the Grid: a cyberpunk battle royale with integrated cryptocurrency features

    October 15, 2024

    Swedish Logistics Property achète deux propriétés en Suède -Le 24 mars 2025 à 11:40

    March 24, 2025
    What's Hot

    UAE’s IRH Bets Big On Abu Dhabi Copper Hub

    October 24, 2024

    Today In Metal History 🤘 October 19th, 2024🤘 RUSH, STYX, CANNIBAL CORPSE, SOILWORK, WINTERSUN, ACE FREHLEY

    October 19, 2024

    Vendredi à Cheltenham – Inothewayurthinkin inscrit son nom dans la Gold Cup !

    March 14, 2025
    Our Picks

    Miyares advises State Retirement System to avoid ESG investing

    August 22, 2024

    Must-Haves in Your Crypto Portfolio? Analysts Spotlight the Top 4 Cryptos to Buy in 2025: BlockDAG, Litecoin, Tron, and Ripple!

    April 20, 2025

    China’s Surging Commodity Exports Suggest Weak Domestic Demand

    July 18, 2024
    Weekly Top

    How To Put $100 In Your Retirement Fund Each Month With Cintas Stock

    May 31, 2025

    L’or réaffirme le statut de sécurité, mais le chemin de Bitcoin peut être plus lumineux: les analystes

    May 31, 2025

    Fake Uber Driver in London Drugs US Tech Investor with Cigarette, Steals £96K in Cryptocurrency

    May 31, 2025
    Editor's Pick

    Agricultural Development Bank PLC annonce la démission d’Alhassan Yakubu-Tali en tant que directeur général -Le 06 février 2025 à 21:05

    February 6, 2025

    The Crypto Industry’s Clout Will Be Tested on Election Day

    October 27, 2024

    Best Crypto To Buy As New ETFs Hit the Financial Markets

    February 12, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.