Cardano

Toncoin

<div class="finbold">
 <p class="paragraph">Cardano (ADA), a decentralized finance (DeFi) project, is currently experiencing a sell-off that has resulted in the asset recording a decline in its ranking based on market capitalization.</p>
 <p class="paragraph">However, crypto trading expert <em>Ali Martinez</em> has suggested that technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> points to a potential rebound in the price of ADA, indicating that the current trajectory should not be a cause for concern.</p>
 <p class="paragraph">Martinez’s <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> resonates with sentiments he expressed on March 16, where he highlighted parallels between ADA’s current trajectory and historical patterns observed between 2018 and 2021.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    The 'degenerate' diaries: Unpacking the tactics of r/wallstreetbets traders <span class="self-center text-xs text-slate-500">13 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Sell signal for an overbought cryptocurrency this week <span class="self-center text-xs text-slate-500">38 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Here's how to turn $1k to $1 million during this crypto cycle <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    This Solana trader made from $530k to $6 million amid uncertainties <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Fast forward to April 10, in an X (formerly Twitter) post,<em> Martinez</em> maintained his bullish outlook on Cardano, asserting that the token is currently consolidating a factor that aligns with its expected trajectory.&nbsp;</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="444" src="https://cdn.thebittimes.com/images/2024/04/10/957afc43379de7e1c98fc03d365ad520.webp" alt class="wp-image-167779" srcset="https://cdn.thebittimes.com/images/2024/04/10/957afc43379de7e1c98fc03d365ad520.webp 680w, https://cdn.thebittimes.com/images/2024/04/10/957afc43379de7e1c98fc03d365ad520.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>ADA price analysis chart. Source: TradingView/Ali Martinez</em>
  </figcaption>
 </figure>
 <p class="paragraph">He pointed out that the consolidation ranges between $0.55 to $0.80 before ADA records a <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a> of almost 200% to $1.70 en route to $5. This assertion suggests that Cardano’s current consolidation phase is essential for its upward momentum.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Nothing has really changed for Cardano. ADA is exactly where it should be, consolidating in the $0.55 to $0.80 range before a <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a> to $1.70,” he said.&nbsp;</p>
 </blockquote>
 <h2 class="wp-block-heading" id="h-ada-sustains-inactivity-nbsp">ADA sustains inactivity&nbsp;</h2>
 <p class="paragraph">Amid the optimism from Martinez’s <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, ADA is trading in the shadow of the gains witnessed in 2021. Notably, under the latest sell-off, Telegram-backed Toncoin (TON) has surpassed ADA and ranked as the ninth-highest cryptocurrency by market capitalization.</p>
 <p class="paragraph">Despite Cardano’s blockchain sustaining momentum in network development, ADA has garnered little interest this year, with investor attention focused on other entities such as Bitcoin (BTC) exchange-traded funds (ETFs).</p>
 <p class="paragraph">ADA’s losses have also coincided with the institutions’ choice to remove the token from their balance sheets. Particularly, Grayscale Investments notably dropped ADA from its Crypto Large Cap Fund, characterizing the move as a “rebalancing” action involving the sale of ADA tokens to reinvest in other fund components.</p>
 <p class="paragraph">This period of inactivity has led ADA to earn the phrase “crypto zombies,” alongside Ripple’s XRP, a factor refuted by founder Charles Hoskinson.</p>
 <p class="paragraph">For ADA to align with Martinez’s projections, the asset will need backing, especially if the general market sustains bullish gains.</p>
 <p class="paragraph">In the meantime, ADA was trading at $0.57 by press time, dropping almost 7% in the last 24 hours.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/opportunity-cardano-is-exactly-where-it-should-be-for-a-breakout-tbt85012.html">https://thebittimes.com/opportunity-cardano-is-exactly-where-it-should-be-for-a-breakout-tbt85012.html</a></p>

Opportunity? Cardano is ‘exactly where it should be’ for a breakout

Mục lục

TheBitTimes

Các bài viết khác được xuất bản trên 10 thg 4, 2024

3 Vulnerable Stocks That Will Be the Most Affected if Rates Don’t Come Down

XRP Price Prediction for April 10

Samsung Galaxy Book4 Ultra: A Premium Content Creation Powerhouse

2024's Must-Watch: NUGX, ORDI, ENA

Analyst Identifies Cardano Precursor Pointing to Potential Breakout, Reveals Next ADA Target

What Will Happen After BTC Halving? Exploring a Negative Market Pattern to Find Cryptocurrencies ...

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!