{"id":568032,"date":"2024-01-04T16:00:30","date_gmt":"2024-01-04T16:00:30","guid":{"rendered":"https:\/\/wncen.com\/?p=568032"},"modified":"2024-01-04T11:41:31","modified_gmt":"2024-01-04T11:41:31","slug":"cardano-price-jump-in-january","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-price-jump-in-january\/","title":{"rendered":"Crypto Analyst Predicts Cardano Price Jump In January – Here’s The Target"},"content":{"rendered":"

Most cryptocurrencies such as Cardano (ADA) currently going through a consolidation period after weeks of intense price growth in December. Data from Coinmarketcap shows the <\/span>big cryptos posting declines<\/span><\/a> in a seven-day timeframe, with some even <\/span>plunging by double digits<\/span><\/a>.\u00a0<\/span><\/p>\n

Cardano <\/span>hasn’t been left out<\/span><\/a>, as it is currently down by 9.20% and 15.3% in the past 24 hours and seven days respectively. However, according to one crypto analyst, Cardano (ADA) could be gearing up for a 30-40% price surge that sends the token well past $0.80 this month.<\/span><\/p>\n

Cardano Consolidating After Price Surge<\/h2>\n

Cardano has been on a nice price surge, reaching a peak of 170% price gain in the last quarter of 2023. At the time of writing, the crypto is still up by 35% in the past 30 days despite the ongoing consolidation. According to a technical analysis shared by crypto analyst Captain Faibik on social media, Cardano is currently in a bullish pennant formation on the daily timeframe.<\/span><\/p>\n

Related Reading: Crypto Analyst Blasts $20,000 XRP Price Target, Reveals Why It\u2019s Impossible<\/a><\/div>\n

Bullish pennant patterns are formed after an uptrend and indicate a continuation of the upward trend during a consolidation. For Cardano, the pole was a 77% price rally from $0.3759 to $0.6655 in the first two weeks of December.\u00a0<\/span><\/p>\n

It then traded in increasingly higher lows and lower highs, creating the pennant shape. If the pennant pattern holds, the analyst envisions a bullish breakout which would lead to a 30% to 40% bullish rally to the $0.8 price level.\u00a0<\/span><\/p>\n

\n

$ADA<\/a> Bullish Pennant formation..!!<\/p>\n

Looks Promising for the Another +30-40% Bullish Rally..\ud83d\udcc8#Crypto<\/a> #Cardano<\/a> #ADA<\/a> pic.twitter.com\/53rYFF5Ws9<\/a><\/p>\n

\u2014 Captain Faibik (@CryptoFaibik) January 2, 2024<\/a><\/p><\/blockquote>\n

\"ADA<\/p>\n

ADA price falls to $0.55 | Source: ADAUSD On Tradingview.com<\/a><\/pre>\n
What\u2019s Next For ADA Price?<\/h2>\n
Cardano is currently trading at $0.5567 with a 115% increase in 24-hour trading volume. Several indicators point to the cryptocurrency going on a price growth this year, along with the entire crypto industry.\u00a0<\/span><\/p>\n
For one, IntoTheBlock’s <\/span>Network Value to Transaction (NVT) ratio<\/span><\/a> of 3.09 suggests that the Cardano chain is currently undergoing high network transaction value against its market cap, which is often a bullish sign.<\/span><\/p>\n
Related Reading: Solana Has Flipped Ethereum In Yet Another Metric In Its Bid To Reach $200<\/a><\/div>\n
In fact, the surge in December and the current consolidation in early January are still in line with a <\/span>prediction by crypto analyst<\/span><\/a> Ali Martinez last year, who used historical data to predict a 2,300% surge to $6.<\/span><\/p>\n
Once Cardano\u2019s price pushes above $0.64 with strong volume, that will confirm the uptrend is ready to continue. On the other hand, if Cardano were to turn the support level of $0.55 level into a resistance barrier on the daily timeframe, it could denote weakness from the bulls which would negate the bullish sentiment in the short term. In such a case, we could see Cardano’s price continue to decline to the $0.5 level.<\/span><\/p>\n
Featured image from Zipmex, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Most cryptocurrencies such as Cardano (ADA) currently going through a consolidation period after weeks of intense price growth in December. Data from Coinmarketcap shows the big cryptos posting declines in a seven-day timeframe, with some even plunging by double digits.\u00a0 Cardano hasn’t been left out, as it is currently down by 9.20% and 15.3% in the past 24 hours and seven days respectively. However, according to one crypto analyst, Cardano (ADA) could be gearing up for a 30-40% price surge that sends the token well past $0.80 this month. Cardano Consolidating After Price Surge Cardano has been on a nice price surge, reaching a peak of 170% price gain in the last quarter of 2023. At the time of writing, the crypto is still up by 35% in the past 30 days despite the ongoing consolidation. According to a technical analysis shared by crypto analyst Captain Faibik on social media, Cardano is currently in a bullish pennant formation on the daily timeframe. Related Reading: Crypto Analyst Blasts $20,000 XRP Price Target, Reveals Why It\u2019s Impossible Bullish pennant patterns are formed after an uptrend and indicate a continuation of the upward trend during a consolidation. For Cardano, the pole was a 77% price rally from $0.3759 to $0.6655 in the first two weeks of December.\u00a0 It then traded in increasingly higher lows and lower highs, creating the pennant shape. If the pennant pattern holds, the analyst envisions a bullish breakout which would lead to a 30% to 40% bullish rally to the $0.8 price level.\u00a0 $ADA Bullish Pennant formation..!! Looks Promising for the Another +30-40% Bullish Rally..\ud83d\udcc8#Crypto #Cardano #ADA pic.twitter.com\/53rYFF5Ws9 \u2014 Captain Faibik (@CryptoFaibik) January 2, 2024 ADA price falls to $0.55 | Source: ADAUSD On Tradingview.com What\u2019s Next For ADA Price? Cardano is currently trading at $0.5567 with a 115% increase in 24-hour trading volume. Several indicators point to the cryptocurrency going on a price growth this year, along with the entire crypto industry.\u00a0 For one, IntoTheBlock’s Network Value to Transaction (NVT) ratio of 3.09 suggests that the Cardano chain is currently undergoing high network transaction value against its market cap, which is often a bullish sign. Related Reading: Solana Has Flipped Ethereum In Yet Another Metric In Its Bid To Reach $200 In fact, the surge in December and the current consolidation in early January are still in line with a prediction by crypto analyst Ali Martinez last year, who used historical data to predict a 2,300% surge to $6. Once Cardano\u2019s price pushes above $0.64 with strong volume, that will confirm the uptrend is ready to continue. On the other hand, if Cardano were to turn the support level of $0.55 level into a resistance barrier on the daily timeframe, it could denote weakness from the bulls which would negate the bullish sentiment in the short term. In such a case, we could see Cardano’s price continue to decline to the $0.5 level. Featured image from Zipmex, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":568051,"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":[12333,89347,84005,86092,14643,79508,91055,12332,89230,12329,6664,26263,14690],"class_list":["post-568032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-ada-price-prediction","tag-adausd","tag-adausdt","tag-analayst","tag-cardano","tag-cardano-news","tag-cardano-price","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nCrypto Analyst Predicts Cardano Price Jump In January - Here's The Target<\/title>\n<meta name=\"description\" content=\"Most cryptocurrencies such as Cardano (ADA) currently going through a consolidation period after weeks of intense price growth in December.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/cardano\/cardano-price-jump-in-january\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst Predicts Cardano Price Jump In January - 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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:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Predicts Cardano Price Jump In January – Here’s The Target","url":"http:\/\/wncen.com\/news\/cardano\/cardano-price-jump-in-january\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/cardano-price-jump-in-january\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Cardano.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Cardano.jpeg?fit=1200%2C716"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","ada price prediction","adausd","adausdt","analayst","cardano","cardano news","cardano price","crypto","crypto analyst","crypto news"],"dateCreated":"2024-01-04T16:00:30Z","datePublished":"2024-01-04T16:00:30Z","dateModified":"2024-01-04T16:00:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Predicts Cardano Price Jump In January – Here’s The Target\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-price-jump-in-january\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-price-jump-in-january\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Cardano.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Cardano.jpeg?fit=1200%2C716\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"ada price prediction\",\"adausd\",\"adausdt\",\"analayst\",\"cardano\",\"cardano news\",\"cardano price\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-01-04T16:00:30Z\",\"datePublished\":\"2024-01-04T16:00:30Z\",\"dateModified\":\"2024-01-04T16:00:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Cardano.jpeg?fit=1200%2C716","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/568032"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=568032"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/568032\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/568051"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=568032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=568032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=568032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}