{"id":624151,"date":"2024-06-12T08:08:43","date_gmt":"2024-06-12T08:08:43","guid":{"rendered":"https:\/\/wncen.com\/?p=624151"},"modified":"2024-07-10T13:24:25","modified_gmt":"2024-07-10T13:24:25","slug":"cardano-ada-headed-for-reversal-analyst-eyes-0-50-as-turning-point","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-ada-headed-for-reversal-analyst-eyes-0-50-as-turning-point\/","title":{"rendered":"Cardano (ADA) Headed For Reversal? Analyst Eyes $0.50 As Turning Point"},"content":{"rendered":"

At a tipping point, Cardano (ADA), the smart contracts platform noted for its strict development process, finds itself About the immediate future<\/a> of the bitcoin, experts vary; some expect a bullish breakout while others are preparing for a bearish correction.<\/p>\n

Related Reading: Solana Searching For Direction: Will SOL Break Free Or Fall Flat?<\/a><\/div>\n

Analyst Buckles Up For A Reversal<\/strong><\/h2>\n

One analyst\u2014who goes by Trend Rider\u2014has taken a positive attitude. They have found a technical pattern implying ADA may reverse its trend.<\/span> This trend consists in an initial price spike followed by a drop, a situation that many other cryptocurrencies lately reflect.
\n<\/span><\/p>\n

\n

$ADA<\/a> had a brief pump and then corrected, just like all other coins.<\/p>\n

Based on the facts, I see it lacks momentum. On the chart, I\u2019ve marked the key levels:<\/p>\n

\ud83d\udfe2Zone for longs: $0.36\u2013$0.40
\n\ud83d\udcc8Key price to start reversing the trend: $0.50<\/p>\n

Note: Daily Timeframe pic.twitter.com\/3fH7xI08Ke<\/a><\/p>\n

\u2014 Trend Rider (@TrendRidersTR) June 10, 2024<\/a><\/p><\/blockquote>\n

Trend Rider thinks a $0.50 major breakthrough point is where it is Surpassing this level could indicate a notable change in momentum, so bringing ADA into a new uptrend.<\/span> Moreover, they have found a purchasing zone between $0.36 and $0.40, implying this could be a good starting place for long position seekers.
\n<\/span><\/p>\n

\"\"<\/p>\n

Analyst Averages Offer Tentative Midpoint<\/strong><\/h2>\n

Including the average price prediction of several crypto analysts adds still another level of complication.<\/span> These estimates, which span $0.405 to $0.439, show an average price of $0.422<\/a> for ADA in June 2024. Since this midpoint estimate puts ADA dangerously near to its present value, it offers little guidance for investors seeking unambiguous counsel..
\n<\/span><\/p>\n

Total crypto market cap currently at $2.39 trillion. Chart: TradingView<\/a><\/figcaption><\/figure>\n

ADA Price Forecast<\/strong><\/h3>\n

The present study of Cardano (ADA) shows a possible price rise of 5.00%, maybe reaching $0.446851 by July 12, 2024.<\/span> The technical signs point to a negative market<\/a> even with this optimistic price estimate.
\n<\/span><\/p>\n

The Fear & Greed Index, which presently shows 72 and denotes a market condition of greed, supports this even more. Cardano has shown a modest degree of volatility at 3.52% over the previous thirty days; only forty percent of those days have been positive, thereby showing little upward momentum.<\/span>
\n<\/span><\/p>\n

Related Reading: Blood In The Water? Ethereum Whales Circle As Price Drops<\/a><\/div>\n
\"\"
Source: CoinCodex<\/a><\/figcaption><\/figure>\n

Based on sentiment indicators and current market conditions, it seems that now is not a good moment to invest in Cardano. The pessimistic attitude and great level of greed point to either a possible market correction or more risk of side volatility.<\/span> Before starting a stake in Cardano, investors might want to wait for a more favourable market situation or clearer optimistic signs.
\n<\/span><\/p>\n

The path of ADA’s price ultimately depends on a convergence of elements outside of conventional technical analysis. ADA’s path will be shaped in part by institutional acceptance, regulatory changes, and more general market attitude.<\/p>\n

Featured image from Goodwood, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

At a tipping point, Cardano (ADA), the smart contracts platform noted for its strict development process, finds itself About the immediate future of the bitcoin, experts vary; some expect a bullish breakout while others are preparing for a bearish correction. Related Reading: Solana Searching For Direction: Will SOL Break Free Or Fall Flat? Analyst Buckles Up For A Reversal One analyst\u2014who goes by Trend Rider\u2014has taken a positive attitude. They have found a technical pattern implying ADA may reverse its trend. This trend consists in an initial price spike followed by a drop, a situation that many other cryptocurrencies lately reflect. $ADA had a brief pump and then corrected, just like all other coins. Based on the facts, I see it lacks momentum. On the chart, I\u2019ve marked the key levels: \ud83d\udfe2Zone for longs: $0.36\u2013$0.40 \ud83d\udcc8Key price to start reversing the trend: $0.50 Note: Daily Timeframe pic.twitter.com\/3fH7xI08Ke \u2014 Trend Rider (@TrendRidersTR) June 10, 2024 Trend Rider thinks a $0.50 major breakthrough point is where it is Surpassing this level could indicate a notable change in momentum, so bringing ADA into a new uptrend. Moreover, they have found a purchasing zone between $0.36 and $0.40, implying this could be a good starting place for long position seekers. Analyst Averages Offer Tentative Midpoint Including the average price prediction of several crypto analysts adds still another level of complication. These estimates, which span $0.405 to $0.439, show an average price of $0.422 for ADA in June 2024. Since this midpoint estimate puts ADA dangerously near to its present value, it offers little guidance for investors seeking unambiguous counsel.. ADA Price Forecast The present study of Cardano (ADA) shows a possible price rise of 5.00%, maybe reaching $0.446851 by July 12, 2024. The technical signs point to a negative market even with this optimistic price estimate. The Fear & Greed Index, which presently shows 72 and denotes a market condition of greed, supports this even more. Cardano has shown a modest degree of volatility at 3.52% over the previous thirty days; only forty percent of those days have been positive, thereby showing little upward momentum. Related Reading: Blood In The Water? Ethereum Whales Circle As Price Drops Based on sentiment indicators and current market conditions, it seems that now is not a good moment to invest in Cardano. The pessimistic attitude and great level of greed point to either a possible market correction or more risk of side volatility. Before starting a stake in Cardano, investors might want to wait for a more favourable market situation or clearer optimistic signs. The path of ADA’s price ultimately depends on a convergence of elements outside of conventional technical analysis. ADA’s path will be shaped in part by institutional acceptance, regulatory changes, and more general market attitude. Featured image from Goodwood, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":624158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,142,12332,6664,4735,3505],"class_list":["post-624151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-altcoins","tag-cardano","tag-crypto","tag-price-action","tag-price-analysis"],"acf":[],"yoast_head":"\nCardano Reversal? 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano (ADA) Headed For Reversal? 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