바카라 게임 사이트；바카라 추천；바카라 게임 Bitcoin & Cryptocurrency News Today Thu, 26 Sep 2024 12:24:14 +0000 en-US hourly 1 //wordpress.org/?v=6.6.2 //uniquehot.com/wp-content/uploads/2024/05/cropped-favicon-2.png?fit=32%2C32 스포츠 토토 사이트 추천；스포츠 배팅 사이트；스포츠 분석 사이트 32 32 221170450 벳위즈 【보증업체】 가입코드 이벤트 쿠폰 //uniquehot.com/news/cardano/cardano-ada-eyes-20-price-surge-funding-rate-suggests-increasing-demand/ Fri, 27 Sep 2024 00:00:47 +0000 //uniquehot.com/?p=644700 If Cardano breaks past its current resistance, a 20% surge is expected, potentially pushing the price to levels not seen in months. This breakout could solidify the altcoin’s uptrend and set the stage for further gains. 

As the price approaches this critical resistance, investors are closely watching for signs of increased volume and momentum, which would confirm the strength of the bullish trend. With market sentiment shifting and technical indicators aligning, Cardano appears poised for a significant move. 

Cardano On-Chain Metrics Suggest A Breakout 

Cardano has surged over 15% since last week’s interest rate cut announcement, fueling speculation of a potential altseason in the crypto market this year. The broader market is turning optimistic, and key data from Coinglass supports this sentiment, showing a positive funding rate of 0.01%.

This rate indicates that traders are paying a premium to maintain long positions, reflecting their anticipation of a potential price rally for ADA. A positive funding rate generally suggests a bullish market outlook, as it shows that traders are willing to incur additional costs to hold onto their positions, expecting further price appreciation. Cardano positive funding rate at 0.0105%. As Cardano approaches its crucial resistance level at $0.40, market sentiment points towards a potential breakout. Should the price maintain its current momentum and break above this key resistance, analysts expect an aggressive surge to new highs. Investors are closely watching this level, as a successful breakout could lead to a rapid 25% rally towards the $0.50 mark. This scenario would mark a significant recovery for ADA and reinforce the growing belief that altcoins, led by Cardano, could outperform in the coming weeks. However, the market remains cautious. While the current sentiment and data suggest a bullish outlook, the price must sustain its upward momentum to validate these predictions. A failure to break past the $0.40 resistance could result in a period of consolidation or even a short-term retracement. As the crypto community eagerly anticipates ADA’s next move, the coming days will be crucial in determining whether Cardano can capitalize on this renewed optimism and kickstart a broader altcoin rally.

ADA Price Action: Key Levels To Watch 

ADA is now trading at $0.39, hovering around a key resistance level that hasn’t been broken since late July. The price is less than 5% away from the daily 200 exponential moving average (EMA) at $0.41. This EMA has acted as a significant resistance level since mid-April and now aligns with a crucial supply zone, making it a pivotal point for continuing Cardano’s bullish momentum. Cardano trading less than 5% below the 1D 200 EMA. For the bulls to gain momentum and establish a stronger uptrend, ADA must reclaim the 200 EMA and decisively break past the $0.40 resistance. Doing so would signal a confirmation of a daily uptrend and could pave the way for a sustained rally to higher price levels. However, a deeper correction could follow if ADA fails to break through current resistance and set a new high. A pullback to lower demand levels around $0.35 would be the likely scenario as traders seek support before any potential rebound. The coming days will be crucial in determining whether Cardano can break through this resistance and establish a more bullish trajectory or if a retracement is imminent.

Featured image from Dall-E, chart from TradingView

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