{"id":601547,"date":"2024-04-05T15:00:51","date_gmt":"2024-04-05T15:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=601547"},"modified":"2024-04-05T11:04:19","modified_gmt":"2024-04-05T11:04:19","slug":"ada-price-0-34-cardano-founder","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/ada-price-0-34-cardano-founder\/","title":{"rendered":"Crypto Analyst Predicts ADA Price Crash To $0.34, Why Is Cardano Founder Bullish?"},"content":{"rendered":"

Cardano (ADA)<\/span><\/a> is again in the spotlight as crypto analysts continue to deliberate on its <\/span>future trajectory<\/span><\/a>. This time, <\/span>crypto analyst Alan Santana<\/span><\/a> has laid out a bearish narrative for the crypto token, which could cause its price to drop drastically.\u00a0<\/span><\/p>\n

How ADA Could Crash To $0.34<\/h2>\n

In his <\/span>analysis<\/span><\/a>, Santana <\/span>stated<\/span><\/a> that <\/span>ADA\u2019s breakout<\/span><\/a> below the $0.58 price level, which has acted as support for the crypto token for five weeks, signals a bearish sentiment toward it. In line with this, he suggested that ADA\u2019s price could further dip significantly even though it has already experienced a 30% decline from its <\/span>recent price peak<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Fantom Supply On Exchanges See Drastic Increase, A Cause For Alarm?<\/a><\/div>\n

The crypto analyst mentioned that a further price dip for ADA could cause its price to drop between $0.4444 and $0.3450. However, this isn\u2019t necessarily bad for the crypto token as Santana revealed that altcoins, which have in the past seen a 2x to 3x increase in their prices, <\/span>experienced corrections<\/span><\/a> of such magnitude before then.\u00a0<\/span><\/p>\n

He added that before the end of their correction, all these altcoins moved to test a price range between 0.618 and 0.786 <\/span>Fibonacci retracement level<\/span><\/a>. From the chart he shared, one can see that the analyst stipulated that ADA could drop to as low as $0.34 because that is the price level for the 0.786 Fibonacci retracement level.\u00a0<\/span><\/p>\n

\"Cardano\"<\/p>\n

Source: Tradingview.com<\/pre>\n
Furthermore, Santana acknowledged that ADA could move higher from its current price level but seemed skeptical because the crypto token has continued to lag, making further price declines more feasible.\u00a0<\/span><\/p>\n
He also revealed that ADA\u2019s weekly chart is producing a \u201cbreak below the EMA10 (Exponential Moving Average) with a very strong bearish candle as the RSI (<\/span>Relative Strength Index<\/span><\/a>) turns red. \u201cOnce support is found and established, we become bullish again,\u201d the analyst concluded.\u00a0<\/span><\/p>\n
Cardano Founder Is Bullish On ADA<\/h2>\n
Cardano\u2019s founder, Charles Hoskinson<\/span><\/a>, sounded bullish on the Cardano ecosystem in a recent X (formerly Twitter) <\/span>post<\/span><\/a>, stating that \u201cCardano always wins.\u201d Hoskinson\u2019s statement came in response to a poll to rank the best Layer-1 network. Hoskinson suggested that the poll was already biased and that Cardano would surely come out on top if it were a \u201cfair vote.\u201d<\/span><\/p>\n
Related Reading: Crypto Analyst Says Bitcoin Hitting $100,000 In 2024 Is Inevitable, Here\u2019s Why<\/a><\/div>\n
Meanwhile, this occurrence again highlights <\/span>Hoskinson’s confidence<\/span><\/a> in the Cardano network he founded. He once even compared the network to Bitcoin, <\/span>noting<\/span><\/a> how it was growing organically like the flagship blockchain. At different times, he also <\/span>insinuated<\/span><\/a> that Cardano has real network value, unlike <\/span>networks like Solana<\/span><\/a>.<\/span><\/p>\n
However, so far, Cardano\u2019s network value has failed to positively affect ADA\u2019s price, which is undoubtedly a cause for concern among <\/span>ADA holders<\/span><\/a>.\u00a0<\/span><\/p>\n
At the time of writing, ADA is trading at around $0.56, down over 2% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.<\/span><\/p>\n
\"ADA<\/p>\n
ADA drops down to $0.56 | Source: ADAUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from Forbes, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Cardano (ADA) is again in the spotlight as crypto analysts continue to deliberate on its future trajectory. This time, crypto analyst Alan Santana has laid out a bearish narrative for the crypto token, which could cause its price to drop drastically.\u00a0 How ADA Could Crash To $0.34 In his analysis, Santana stated that ADA\u2019s breakout below the $0.58 price level, which has acted as support for the crypto token for five weeks, signals a bearish sentiment toward it. In line with this, he suggested that ADA\u2019s price could further dip significantly even though it has already experienced a 30% decline from its recent price peak.\u00a0 Related Reading: Fantom Supply On Exchanges See Drastic Increase, A Cause For Alarm? The crypto analyst mentioned that a further price dip for ADA could cause its price to drop between $0.4444 and $0.3450. However, this isn\u2019t necessarily bad for the crypto token as Santana revealed that altcoins, which have in the past seen a 2x to 3x increase in their prices, experienced corrections of such magnitude before then.\u00a0 He added that before the end of their correction, all these altcoins moved to test a price range between 0.618 and 0.786 Fibonacci retracement level. From the chart he shared, one can see that the analyst stipulated that ADA could drop to as low as $0.34 because that is the price level for the 0.786 Fibonacci retracement level.\u00a0 Source: Tradingview.com Furthermore, Santana acknowledged that ADA could move higher from its current price level but seemed skeptical because the crypto token has continued to lag, making further price declines more feasible.\u00a0 He also revealed that ADA\u2019s weekly chart is producing a \u201cbreak below the EMA10 (Exponential Moving Average) with a very strong bearish candle as the RSI (Relative Strength Index) turns red. \u201cOnce support is found and established, we become bullish again,\u201d the analyst concluded.\u00a0 Cardano Founder Is Bullish On ADA Cardano\u2019s founder, Charles Hoskinson, sounded bullish on the Cardano ecosystem in a recent X (formerly Twitter) post, stating that \u201cCardano always wins.\u201d Hoskinson\u2019s statement came in response to a poll to rank the best Layer-1 network. Hoskinson suggested that the poll was already biased and that Cardano would surely come out on top if it were a \u201cfair vote.\u201d Related Reading: Crypto Analyst Says Bitcoin Hitting $100,000 In 2024 Is Inevitable, Here\u2019s Why Meanwhile, this occurrence again highlights Hoskinson’s confidence in the Cardano network he founded. He once even compared the network to Bitcoin, noting how it was growing organically like the flagship blockchain. At different times, he also insinuated that Cardano has real network value, unlike networks like Solana. However, so far, Cardano\u2019s network value has failed to positively affect ADA\u2019s price, which is undoubtedly a cause for concern among ADA holders.\u00a0 At the time of writing, ADA is trading at around $0.56, down over 2% in the last 24 hours, according to data from CoinMarketCap. ADA drops down to $0.56 | Source: ADAUSDT on Tradingview.com Featured image from Forbes, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":601568,"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":[12333,89347,84005,14643,79508,12332,84139,89230,12329,1286],"class_list":["post-601547","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-cardano","tag-cardano-founder","tag-cardano-news","tag-cardano-price","tag-charles-hoskinson"],"acf":[],"yoast_head":"\nCrypto Analyst Predicts ADA Price Crash To $0.34, Why Is Cardano Founder Bullish?<\/title>\n<meta name=\"description\" content=\"Cardano (ADA) is again in the spotlight as crypto analysts continue to deliberate on 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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:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Predicts ADA Price Crash To $0.34, Why Is Cardano Founder Bullish?","url":"http:\/\/wncen.com\/news\/cardano\/ada-price-0-34-cardano-founder\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/ada-price-0-34-cardano-founder\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Cardano.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Cardano.jpg?fit=958%2C539"},"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","adausd","adausdt","cardano","cardano founder","cardano news","cardano price","charles hoskinson"],"dateCreated":"2024-04-05T15:00:51Z","datePublished":"2024-04-05T15:00:51Z","dateModified":"2024-04-05T15:00:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Predicts ADA Price Crash To $0.34, Why Is Cardano Founder Bullish?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/ada-price-0-34-cardano-founder\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/ada-price-0-34-cardano-founder\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Cardano.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Cardano.jpg?fit=958%2C539\"},\"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\",\"adausd\",\"adausdt\",\"cardano\",\"cardano founder\",\"cardano news\",\"cardano price\",\"charles hoskinson\"],\"dateCreated\":\"2024-04-05T15:00:51Z\",\"datePublished\":\"2024-04-05T15:00:51Z\",\"dateModified\":\"2024-04-05T15:00:51Z\"}<\/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\/04\/Cardano.jpg?fit=958%2C539","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601547"}],"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=601547"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/601568"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=601547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=601547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=601547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}