{"id":652205,"date":"2024-11-08T18:30:46","date_gmt":"2024-11-08T18:30:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=652205"},"modified":"2024-11-08T11:22:13","modified_gmt":"2024-11-08T11:22:13","slug":"cardano-price-prediction-break","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-price-prediction-break\/","title":{"rendered":"Cardano Price Prediction: Analyst Sounds Alarm Of Break Through Key Resistance, Why A Rally Could Follow"},"content":{"rendered":"

Based on chart indicators, <\/span>the Cardano price<\/span><\/a> has just broken through a key resistance, sparking the promise of a potential uptrend. While the cryptocurrency is gearing up for a possible bullish rally, a crypto analyst has also shared the downside risks Cardano could experience if it <\/span>fails to hold crucial support levels<\/span><\/a>.\u00a0<\/span><\/p>\n

Cardano Price Breaks Falling Wedge Resistance, Signals Uptrend<\/h2>\n

The Cardano price appears to be on a significantly <\/span>bullish trajectory<\/span><\/a>, as a crypto analyst on TradingView identified as \u2018MyCryptoParadise\u2019 has <\/span>shared<\/span><\/a> an in-depth analysis of its recent price movements. According to the crypto expert, Cardano had just broken through the <\/span>descending resistance<\/span><\/a> in its Falling Wedge pattern.\u00a0<\/span><\/p>\n

Related Reading: Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go?<\/a><\/div>\n

This move is typically seen as a bullish signal, as the Falling Wedge chart pattern is often associated with positive trend reversals. The <\/span>Falling Wedge pattern<\/span><\/a> is a unique technical indicator that occurs in an upward trend. It is characterized by two descending trend lines, with one representing highs and the other lows.<\/span><\/p>\n

The crypto analyst has stated that Cardano’s price is approaching a distinctive level, which he calls a \u201cdemand zone.\u201d If it can experience a strong rebound from this point, Cardano could start its <\/span>anticipated upward trend<\/span><\/a> at this crucial level.\u00a0<\/span><\/p>\n

The demand zone at $0.0313 acts as a vital support level where there\u2019s likely to be buying interest. If Cardano can experience a bounce from this point, the cryptocurrency could <\/span>rally and break out<\/span><\/a> above the $0.417 resistance level, strengthening the analyst\u2019s bullish scenario while hinting at higher resistance targets.\u00a0<\/span><\/p>\n

The market expert discloses that when Cardano breaks the $0.417 resistance, there could be a notable shift in its present market structure. Notably, <\/span>Cardano has experienced slow growth<\/span><\/a> and muted market performance over the past few years.<\/span><\/p>\n

Due to the cryptocurrency\u2019s low price and sluggish momentum, many investors have voiced out frustration previously, with some tagging <\/span>ADA a dead coin<\/span><\/a> and others alleging that <\/span>Cardano is a ghost chain<\/span><\/a>. However, recently, Cardano has been on a bullish trajectory, as its price has been experiencing significant gains over the past few weeks.<\/span><\/p>\n

According to data from CoinmarketCap, the Cardano price is trading at $0.434, marking a 17.29% increase in the past 24 hours and a 27.84% rise over the past week. The cryptocurrency\u2019s <\/span>daily trading volume<\/span><\/a> is also up by more than 65%, underscoring investors renewed interest and confidence in the altcoin.\u00a0<\/span><\/p>\n

Potential Risks If ADA Fails To Hold Key Support Levels<\/h2>\n

TheCryptoParadise has revealed on TradingView the downside risks that could occur if Cardano fails to hold the aforementioned critical support levels at around $0.313. The analyst emphasized that if the Cardano price fails to hold above the $0.313 level, it might <\/span>experience a steep decline<\/span><\/a> toward the critical support zone between $0.274 and $0.290.<\/span><\/p>\n

Related Reading: Dogecoin Price Looking To Close Weekly Candle Above The Yellow Line, Why $10 Is Possible If This Happens<\/a><\/div>\n

The analyst has disclosed that this support zone is an important price floor where buyers could step in to prevent further price decreases. He also highlighted that <\/span>ADA<\/span><\/a> will need to reclaim the $0.313 support to maintain a bullish outlook. However, if it closes a day below $0.274, it would most likely invalidate this bullish scenario, increasing the <\/span>risk of further price declines<\/span><\/a> and possibly even setting a new low.\u00a0<\/span><\/p>\n

\"Cardano
ADA price at $0.43 | Source: ADAUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Based on chart indicators, the Cardano price has just broken through a key resistance, sparking the promise of a potential uptrend. While the cryptocurrency is gearing up for a possible bullish rally, a crypto analyst has also shared the downside risks Cardano could experience if it fails to hold crucial support levels.\u00a0 Cardano Price Breaks Falling Wedge Resistance, Signals Uptrend The Cardano price appears to be on a significantly bullish trajectory, as a crypto analyst on TradingView identified as \u2018MyCryptoParadise\u2019 has shared an in-depth analysis of its recent price movements. According to the crypto expert, Cardano had just broken through the descending resistance in its Falling Wedge pattern.\u00a0 Related Reading: Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go? This move is typically seen as a bullish signal, as the Falling Wedge chart pattern is often associated with positive trend reversals. The Falling Wedge pattern is a unique technical indicator that occurs in an upward trend. It is characterized by two descending trend lines, with one representing highs and the other lows. The crypto analyst has stated that Cardano’s price is approaching a distinctive level, which he calls a \u201cdemand zone.\u201d If it can experience a strong rebound from this point, Cardano could start its anticipated upward trend at this crucial level.\u00a0 The demand zone at $0.0313 acts as a vital support level where there\u2019s likely to be buying interest. If Cardano can experience a bounce from this point, the cryptocurrency could rally and break out above the $0.417 resistance level, strengthening the analyst\u2019s bullish scenario while hinting at higher resistance targets.\u00a0 The market expert discloses that when Cardano breaks the $0.417 resistance, there could be a notable shift in its present market structure. Notably, Cardano has experienced slow growth and muted market performance over the past few years. Due to the cryptocurrency\u2019s low price and sluggish momentum, many investors have voiced out frustration previously, with some tagging ADA a dead coin and others alleging that Cardano is a ghost chain. However, recently, Cardano has been on a bullish trajectory, as its price has been experiencing significant gains over the past few weeks. According to data from CoinmarketCap, the Cardano price is trading at $0.434, marking a 17.29% increase in the past 24 hours and a 27.84% rise over the past week. The cryptocurrency\u2019s daily trading volume is also up by more than 65%, underscoring investors renewed interest and confidence in the altcoin.\u00a0 Potential Risks If ADA Fails To Hold Key Support Levels TheCryptoParadise has revealed on TradingView the downside risks that could occur if Cardano fails to hold the aforementioned critical support levels at around $0.313. The analyst emphasized that if the Cardano price fails to hold above the $0.313 level, it might experience a steep decline toward the critical support zone between $0.274 and $0.290. Related Reading: Dogecoin Price Looking To Close Weekly Candle Above The Yellow Line, Why $10 Is Possible If This Happens The analyst has disclosed that this support zone is an important price floor where buyers could step in to prevent further price decreases. He also highlighted that ADA will need to reclaim the $0.313 support to maintain a bullish outlook. However, if it closes a day below $0.274, it would most likely invalidate this bullish scenario, increasing the risk of further price declines and possibly even setting a new low.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":632818,"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":[12333,89347,84005,14643,79508,167,12332,89230,12329,6664,26263,14690],"class_list":["post-652205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-adausd","tag-adausdt","tag-analyst","tag-cardano","tag-cardano-news","tag-cardano-price","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nCardano Price Prediction: Analyst Sounds Alarm Of 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Price Prediction: Analyst Sounds Alarm Of Break Through Key Resistance, Why A Rally Could Follow","url":"http:\/\/uniquehot.com\/news\/cardano\/cardano-price-prediction-break\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano\/cardano-price-prediction-break\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Cardano.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Cardano.jpeg?fit=1792%2C1024"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","adausd","adausdt","analyst","cardano","cardano news","cardano price","crypto","crypto analyst","crypto news"],"dateCreated":"2024-11-08T18:30:46Z","datePublished":"2024-11-08T18:30:46Z","dateModified":"2024-11-08T18:30:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Price Prediction: Analyst Sounds Alarm Of Break Through Key Resistance, Why A Rally Could Follow\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-price-prediction-break\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-price-prediction-break\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Cardano.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Cardano.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"adausd\",\"adausdt\",\"analyst\",\"cardano\",\"cardano news\",\"cardano price\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-11-08T18:30:46Z\",\"datePublished\":\"2024-11-08T18:30:46Z\",\"dateModified\":\"2024-11-08T18:30:46Z\"}<\/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\/2024\/08\/Cardano.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/652205","targetHints":{"allow":["GET"]}}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=652205"}],"version-history":[{"count":1,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/652205\/revisions"}],"predecessor-version":[{"id":652240,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/652205\/revisions\/652240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/632818"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=652205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=652205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=652205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}