{"id":635099,"date":"2024-08-13T11:00:20","date_gmt":"2024-08-13T11:00:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=635099"},"modified":"2024-08-13T07:52:46","modified_gmt":"2024-08-13T07:52:46","slug":"cardano-not-dead-crypto-analyst-surge-to-5","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-not-dead-crypto-analyst-surge-to-5\/","title":{"rendered":"Cardano Is Not ‘Dead’: Crypto Analyst Predicts Surge To $5"},"content":{"rendered":"

According to the analysts on the Discover Crypto YouTube channel (with 1.4 million subscribers), Cardano might surge to $5. This prediction starkly contrasts with the pessimistic views currently circulating within the broader cryptocurrency community, challenging recent headlines that have questioned ADA\u2019s future viability.<\/p>\n

Why Cardano Could Hit $5<\/h2>\n

The analyst first addressed<\/a> the negative sentiment surrounding Cardano, pointing out a series of bearish headlines from various crypto news outlets. He highlighted the contradiction between the public perception of Cardano as a \u201cdead coin\u201dt and the ongoing vigorous development activities<\/a> within the Cardano ecosystem.<\/p>\n

\u201cDespite what the mainstream media is portraying, the development activity on Cardano has been robust, ranking third among all cryptocurrencies,\u201d the analyst asserted. This was further emphasized by recent data showing that developers continue to build and refine the platform, indicating a healthy and active development environment.<\/p>\n

Related Reading: Cardano Eyes $0.3389: Can Bulls Sustain ADA Above This Critical Level?<\/a><\/div>\n

Focusing on the forthcoming Chang hard fork<\/a>, the analyst described this event as a pivotal moment for Cardano. \u201cThe Chang hard fork represents the most significant milestone in Cardano’s history,\u201d he noted. He added, \u201cMaybe articles are out there trying to suppress the price right before the price goes parabolic and just rallies to the upside potentially even $5 this cycle.\u201d<\/p>\n

From a technical analysis standpoint, the analyst introduced the “breaker block pattern,” a less common but noteworthy technical chart pattern often used by traders. The breaker block pattern occurs when a corrective price block is fully retraced after a strong directional market move.<\/p>\n

\"ADA\/USDT,
ADA\/USDT, 1-month chart price analysis | Source: YouTube @Discover Crypto<\/figcaption><\/figure>\n

This pattern is considered bullish as it typically indicates that after a period of price consolidation or correction, the original bullish trend has regained strength and is likely to continue. “We’re observing a classic breaker block formation in ADA’s chart, which historically precedes significant price rallies,” explained the analyst.<\/p>\n

Related Reading: Cardano Price Crash Below $0.3: Is It Time For You To Buy ADA?<\/a><\/div>\n

Coupled with this pattern, the analyst pointed to a promising stochastic RSI crossover on the monthly chart\u2014a technical indicator often used to predict changes in momentum. \u201cThe stochastic RSI is about to cross, and this is a very bullish sign historically. When this blue line passes the orange line, it sets up previous rallies, which we can clearly observe if we look back at the charts,\u201d explained the analyst.<\/p>\n

The discussion also extended to market dynamics, specifically the order book data for ADA, which showed a predominance of buy orders over sell orders. \u201cA glance at the order book reveals a significant inclination towards buying rather than selling, suggesting a strong market consensus leaning towards a bullish trajectory<\/a> for ADA,\u201d he commented.<\/p>\n

\"Coinbase
Coinbase depth chart ADA\/USD | Source: YouTube @Discover Crypto<\/figcaption><\/figure>\n

In conclusion, the analyst urged viewers to look beyond the negative headlines and focus on the substantial foundational improvements and strong technical indicators that support a bullish outlook for Cardano. \u201cIgnore the detractors and the negative press. The data, the developments, and the technical indicators all align to suggest that ADA is poised for a significant upward movement, potentially reaching as high as $5 in this cycle,\u201d he concluded.<\/p>\n

At press time, ADA traded at $0.3379.<\/p>\n

\"Cardano
Cardano price, 1-day chart | Source: ADAUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

According to the analysts on the Discover Crypto YouTube channel (with 1.4 million subscribers), Cardano might surge to $5. This prediction starkly contrasts with the pessimistic views currently circulating within the broader cryptocurrency community, challenging recent headlines that have questioned ADA\u2019s future viability. Why Cardano Could Hit $5 The analyst first addressed the negative sentiment surrounding Cardano, pointing out a series of bearish headlines from various crypto news outlets. He highlighted the contradiction between the public perception of Cardano as a \u201cdead coin\u201dt and the ongoing vigorous development activities within the Cardano ecosystem. \u201cDespite what the mainstream media is portraying, the development activity on Cardano has been robust, ranking third among all cryptocurrencies,\u201d the analyst asserted. This was further emphasized by recent data showing that developers continue to build and refine the platform, indicating a healthy and active development environment. Related Reading: Cardano Eyes $0.3389: Can Bulls Sustain ADA Above This Critical Level? Focusing on the forthcoming Chang hard fork, the analyst described this event as a pivotal moment for Cardano. \u201cThe Chang hard fork represents the most significant milestone in Cardano’s history,\u201d he noted. He added, \u201cMaybe articles are out there trying to suppress the price right before the price goes parabolic and just rallies to the upside potentially even $5 this cycle.\u201d From a technical analysis standpoint, the analyst introduced the “breaker block pattern,” a less common but noteworthy technical chart pattern often used by traders. The breaker block pattern occurs when a corrective price block is fully retraced after a strong directional market move. This pattern is considered bullish as it typically indicates that after a period of price consolidation or correction, the original bullish trend has regained strength and is likely to continue. “We’re observing a classic breaker block formation in ADA’s chart, which historically precedes significant price rallies,” explained the analyst. Related Reading: Cardano Price Crash Below $0.3: Is It Time For You To Buy ADA? Coupled with this pattern, the analyst pointed to a promising stochastic RSI crossover on the monthly chart\u2014a technical indicator often used to predict changes in momentum. \u201cThe stochastic RSI is about to cross, and this is a very bullish sign historically. When this blue line passes the orange line, it sets up previous rallies, which we can clearly observe if we look back at the charts,\u201d explained the analyst. The discussion also extended to market dynamics, specifically the order book data for ADA, which showed a predominance of buy orders over sell orders. \u201cA glance at the order book reveals a significant inclination towards buying rather than selling, suggesting a strong market consensus leaning towards a bullish trajectory for ADA,\u201d he commented. In conclusion, the analyst urged viewers to look beyond the negative headlines and focus on the substantial foundational improvements and strong technical indicators that support a bullish outlook for Cardano. \u201cIgnore the detractors and the negative press. The data, the developments, and the technical indicators all align to suggest that ADA is poised for a significant upward movement, potentially reaching as high as $5 in this cycle,\u201d he concluded. At press time, ADA traded at $0.3379. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":565252,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,84005,14643,79508,12332,89230,12329],"class_list":["post-635099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-price","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-news","tag-cardano-price"],"acf":[],"yoast_head":"\nCardano Is Not 'Dead': Crypto Analyst Predicts Surge To $5<\/title>\n<meta name=\"description\" content=\"According to the analysts on the Discover Crypto YouTube channel (with 1.4 million subscribers), Cardano might surge to $5.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Is Not ‘Dead’: Crypto Analyst Predicts Surge To $5","url":"http:\/\/uniquehot.com\/news\/cardano\/cardano-not-dead-crypto-analyst-surge-to-5\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano\/cardano-not-dead-crypto-analyst-surge-to-5\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/shutterstock_2006902073.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/shutterstock_2006902073.jpg?fit=6500%2C3500"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada price","adausd","adausdt","cardano","cardano news","cardano price"],"dateCreated":"2024-08-13T11:00:20Z","datePublished":"2024-08-13T11:00:20Z","dateModified":"2024-08-13T11:00:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Is Not ‘Dead’: Crypto Analyst Predicts Surge To $5\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-not-dead-crypto-analyst-surge-to-5\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-not-dead-crypto-analyst-surge-to-5\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/shutterstock_2006902073.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/shutterstock_2006902073.jpg?fit=6500%2C3500\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada price\",\"adausd\",\"adausdt\",\"cardano\",\"cardano news\",\"cardano price\"],\"dateCreated\":\"2024-08-13T11:00:20Z\",\"datePublished\":\"2024-08-13T11:00:20Z\",\"dateModified\":\"2024-08-13T11:00:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/shutterstock_2006902073.jpg?fit=6500%2C3500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/635099"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=635099"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/635099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/565252"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=635099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=635099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=635099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}