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Cardano's price struggles to break key resistance despite recent attempts. ADA shows short-term bullish potential, yet trades below $0.480. Continue Reading: Cardano Faces Key Resistance Levels Amid Price Fluctuations

Cardano Faces Key Resistance Levels Amid Price Fluctuations

Cardano (ADA) is attempting a fresh increase above the $0.4500 resistance zone. ADA could gain bullish momentum if it settles above the 100 SMA (H4). ADA price is slowly moving high above the $0.450 zone. The price is trading below $0.480 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at $0.4580 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could gain bullish momentum if there is a clear move above $0.470. Cardano Price Attempts Fresh Increase In the past few days, Cardano started a recovery wave from the $0.4180 zone, like Bitcoin and Ethereum. ADA price broke the $0.4350 and $0.4420 levels to move into a short-term bullish zone. There was a move above the 23.6% Fib retracement level of the downward move from the $0.5227 swing high to the $0.4180 low. Besides, there was a break above a key bearish trend line with resistance at $0.4580 on the 4-hour chart of the ADA/USD pair. Cardano is now trading below $0.480 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.4650 zone and the 100 simple moving average (4 hours). The first resistance is near $0.470 or the 50% Fib retracement level of the downward move from the $0.5227 swing high to the $0.4180 low. The next key resistance might be $0.4980. If there is a close above the $0.4980 resistance, the price could start a strong rally. Source: ADAUSD on TradingView.com In the stated case, the price could rise toward the $0.5250 region. Any more gains might call for a move toward $0.5650. Another Decline in ADA? If Cardano’s price fails to climb above the $0.470 resistance level and the 100 simple moving average (4 hours), it could start another decline. Immediate support on the downside is near the $0.450 level. The next major support is near the $0.4350 level. A downside break below the $0.4350 level could open the doors for a test of $0.4180. The next major support is near the $0.3880 level. Technical Indicators 4 hours MACD – The MACD for ADA/USD is losing momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.4500, $0.4350, and $0.4180. Major Resistance Levels – $0.4700, $0.4980, and $0.5250.

ADA Price Prediction – Can Cardano Bulls Overcome This Key Hurdle?

Bitcoin’s dull range-bound action is likely to continue for a few more days as the bulls and the bears battle for control of BTC price.

Price analysis 5/8: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

The post Cardano Appoints New CTO For Product Development And Innovation appeared first on Coinpedia Fintech News Cardano unveils its new CTO, Giorgio Zinetti, to strengthen its product development pipeline fortify its position, and drive innovation in the enterprise blockchain technology. Cardano Foundation’s CEO highlighted the importance of Zinetti’s experience and excellence as instrumental in driving the organization’s technical excellence. However, despite the positive announcement, Cardano’s price dropped by 2.07% to $0.4397 …

Cardano Appoints New CTO For Product Development And Innovation

Cardano’s price has gained 15% in the first 3 days of May 2024 but has since struggled to break above… The post Cardano Price Forecast: This $10M Signal Could Drive ADA above $0.50 first appeared on The Crypto Basic .

Cardano Price Forecast:  This $10M Signal Could Drive ADA above $0.50

Cardano struggles in tough market conditions, with fluctuating prices. AI predictions show a slightly optimistic short-term outlook for ADA. Continue Reading: Cardano Continues to Navigate Challenging Market Conditions

Cardano Continues to Navigate Challenging Market Conditions

Investors find some altcoins very cheap to buy. Recent data highlights potential buying areas for ADA, SHIB, and XRP. Continue Reading: Insights into Buying Zones for Cardano, Shiba Inu, and XRP

Insights into Buying Zones for Cardano, Shiba Inu, and XRP

This milestone highlights Cardano's growing prominence in the blockchain space and underscores the robust ecosystem around its network.

Cardano Skyrockets Past 90 Million Transactions as Bulls Crazily Eye $3 Price Landmark

The Polkadot community has approved a proposal to sponsor Inter Miami, the football club co-owned by David Beckham and featuring superstar Lionel Messi. The move could be a strategic decision to propel Polkadot, a smart contracts platform similar to Ethereum, into the global spotlight. Polkadot To Sponsor Inter Miami The proposal, approved by Polkadot’s Open Gov community, sought 968,000 DOT (roughly $6.5 million) to secure the sponsorship. Under the “sports sponsorship fund,” the goal was to partner with Inter Miami, a team described as one of the “world’s most engaging and followed sports teams.” Related Reading: Cardano (ADA) Trading Activity Goes Quiet: Will This Drag Down The Price? While the goal is to “elevate” Polkadot’s global brand visibility, the plan is to develop other deeper integration, leveraging Inter Miami’s global fanbase. For instance, the team plans to enhance user experience through engaging non-fungible tokens (NFTs) and other gamified experiences deployed on Polkadot’s parachains. Additionally, the team plans to explore how Polkadot-based solutions can be implemented at Inter Miami, resulting in greater efficiency and improved fan engagement initiatives. While the potential deal’s specifics are confidential, the proposal emphasizes transparency. Accordingly, funds will be held in a multi-signature wallet, accessible only with community approval. Moreover, ORSEN SA, a Swiss sports marketing agency, will manage the partnership rights. Polkadot’s Plans to Scale As Polkadot enhances its global visibility, developers are also working on activating a key update: “Asynchronous Backing.” Last year, Sophia Gold, the Engineering Lead at Parity Technologies, said the technology would be a game changer. Asynchronous Backing will allow Polkadot to scale the number of Parachains from 100 to 1,000 by the end of the year. The network will boost its transaction processing capacity, with Polkadot supporting more “independent blockchains” via Parachains. Related Reading: Here’s How This Ethereum Whale Made $16 Million From A Single Trade Furthermore, improvements via techniques like “pipelining” will permit multiple parachains to process data simultaneously, halving transaction confirmation times. Though Polkadot continues to enhance its network and strike more deals, DOT prices remain under pressure. At spot rates, DOT is down 40% from 2024 highs. While CoinMarketCap data shows that the coin has risen 14% in the last week, the failure of bulls to break above $7.5 is a concern. Technically, a high volume lifting the coin above this local liquidation level would pave the road for an expansion toward $9 and March 2024 high in the coming sessions. Feature image from Unsplash, chart from TradingView

Polkadot To Sponsor Messi’s Inter Miami: DOT To The Moon?

Mike McGlone, Senior commodity strategist at Bloomberg Intelligence, has made a rather pessimistic prediction for Bitcoin, emphasizing that the cryptocurrency’s potential rise to $150,00 was a long shot. The strategist has revealed factors that could make Bitcoin’s projected surge to $150,000 difficult, highlighting both macroeconomic trends and Bitcoin’s performance in 2024. Bitcoin Surge To $150,000 Unlikely In a recent interview with Scott Melker, the host of “The Wolf Of All Streets,” podcast, McGlone discussed Bitcoin’s price fundamentals and its possible rise to $150,000 in the 2024 bull cycle. Related Reading: Crypto Whale Spends $10.4 Million On PEPE, Do They Know Something You Don’t? Comparing Bitcoin with the stock market index, the S&P 500, the Bloomberg strategist disclosed that the cryptocurrency was currently showing “divergent weakness,” highlighting that Bitcoin’s performance against the S&P 500 in 2021 was greater compared to 2024. He also revealed that Bitcoin was displaying a similar weak performance to Gold, emphasizing current market conditions and the risk of short-term deflation in the financial market. The combination of these factors pushes McGlone to believe that Bitcoin’s short-term projected rise to $150,000 was unlikely. While the Bloomberg strategist made his foreboding prediction despite Bitcoin’s overperformance at the beginning of the year, McGlone still remains optimistic about the cryptocurrency’s price and fundamental value in the long term. Co-founder and CEO of CoinRoutes, Dave Weisberger, who was also in the podcast with McGlone, made a more optimistic prediction for Bitcoin. Basing his analysis on historical trends and patterns as far back as 2015, Weisberger forecasted that Bitcoin could rise to $200,000 this cycle. His forecast is also acknowledged by reformed hedge fund manager, James Lavish, who revealed in the podcast that Spot Bitcoin ETFs could become a potential driver for Bitcoin’s continuous growth. This is attributed to the massive impact Bitcoin ETFs had on the cryptocurrency’s price following its launch on January 11, 2024. After Spot Bitcoin ETFs were successfully released into the market, the price of Bitcoin skyrocketed to new all-time highs above $73,000. At the time of writing, the cryptocurrency is trading at $63,778, marking a 0.89% increase over the past seven days, according to CoinMarketCap. BTC Crash Presents Perfect Opportunity According to Lavish, if Bitcoin crashes down to the $30,000 to $40,000 range, it would present a “tremendous opportunity” for investors to acquire substantial value in a long-term asset that will essentially hold its value and continue to appreciate in the future. Related Reading: Crypto Analyst Says Cardano Bloodbath Far From Over, Sets Bottom Price For ADA The reformed hedge fund manager revealed that Bitcoin’s short-term volatility and market unpredictability could produce long-term capture of value. This suggests that by strategically navigating through the price fluctuations of Bitcoin, investors could potentially capitalize on its volatility to accumulate wealth over time, which in turn could favorably impact the price of the cryptocurrency. BTC bears and bulls continue tug of war | Source: BTCUSD on Tradingview.com Featured image from ETF Stream, chart from Tradingview.com

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