{"id":627216,"date":"2024-07-01T20:00:40","date_gmt":"2024-07-01T20:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=627216"},"modified":"2024-07-01T18:03:39","modified_gmt":"2024-07-01T18:03:39","slug":"cardano-bottomed-rally-0-8","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-bottomed-rally-0-8\/","title":{"rendered":"Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level"},"content":{"rendered":"

A crypto analyst has uncovered a new technical pattern in the <\/span>Cardano price movements<\/span><\/a>, signaling the potential for a substantial rebound. Echoing this optimism, another analyst has affirmed that <\/span>Cardano may have hit its bottom<\/span><\/a> and could be on the verge of rebounding to $0.8.\u00a0<\/span><\/p>\n

Analyst Declares Cardano\u2019s Price Bottom<\/h2>\n

In an X (formerly Twitter) <\/span>post<\/span><\/a> on June 29, Captain Faibik, a crypto analyst, shared insights on <\/span>Cardano\u2019s price action<\/span><\/a> and future outlook. According to the analyst, Cardano\u2019s native token, <\/span>ADA<\/span><\/a>, is forming a falling wedge pattern on the daily time frame chart.\u00a0<\/span><\/p>\n

Related Reading: XRP Dominance: Pundit Says Missing This Altcoin Could Be A Big Mistake<\/a><\/div>\n
\"Cardano
Source: X<\/figcaption><\/figure>\n

 <\/p>\n

A <\/span>falling wedge pattern<\/span><\/a> is a unique technical formation that signals the end of a consolidation phase and the beginning of a potential reversal or continuation pattern. This falling wedge formation often indicates that a cryptocurrency has hit its bottom or swing low in a market, and is seen as a bullish indicator.\u00a0<\/span><\/p>\n

 <\/p>\n

Sharing a price chart of Cardano from September 2023 to August 2024, Faibik predicted that Cardano would be <\/span>breaking out<\/span><\/a> of its price correction soon. The analyst has foreseen a 72.84% surge from the cryptocurrency\u2019s current price. As a result, Faibik has urged Cardano investors to keep an eye on this crucial area.\u00a0<\/span><\/p>\n

 <\/p>\n

Sharing a similar sentiment, another crypto analyst identified as \u2018Zayk Charts\u2019 on X has also <\/span>unveiled<\/span><\/a> the unique falling wedge pattern on Cardano\u2019s chart. In his case, he foresees a substantial breakout between 40% to 50% for Cardano.\u00a0<\/span><\/p>\n

Cardano Rebound Potential Tied To Crucial Level<\/h2>\n

If Cardano breaks out of the falling wedge pattern, it could surge to nearly $0.8. A crypto analyst identified as \u2018Crypto Feras has <\/span>revealed<\/span><\/a> a crucial support level that Cardano must maintain to secure its <\/span>anticipated bullish rebound<\/span><\/a>.\u00a0<\/span><\/p>\n

\"Cardano
Source: X<\/figcaption><\/figure>\n

In his price chart, Crypto Feras highlighted Cardano\u2019s latest price actions, marking the critical support level at $0.4251 with a yellow box. The analyst warned that if Cardano fails to hold this level, it could experience another sharp decline, potentially pushing its current price to new lows at $0.24.\u00a0<\/span><\/p>\n

Since the beginning of the year, the price of Cardano has been on a <\/span>major downward trend<\/span><\/a>, experiencing constant declines in both favorable market conditions and high volatility. While other altcoins like Solana and Ethereum have surged considerably, <\/span>Cardano underperforms<\/span><\/a>, consistently maintaining a price below $1.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs<\/a><\/div>\n

As of writing, the cryptocurrency is trading at $0.39, experiencing a slight daily uptick of 3.24% as market conditions stabilize. Its 24-hour <\/span>trading volume<\/span><\/a> has also surged considerably, recording an increase of approximately 24.84%.\u00a0<\/span><\/p>\n

With the <\/span>Cardano Chang hard fork<\/span><\/a> approaching, the cryptocurrency could be gearing up for a significant price turnaround.Numerous analysts are optimistic, pointing to the formation of the aforementioned falling wedge pattern as a strong bullish indicator. One analyst <\/span>predicts<\/span><\/a> that if Cardano breaks this pattern, its price could surge to between $0.46 to $0.81 before the year ends.\u00a0<\/span><\/p>\n

\"Cardano
ADA price at $0.4 | 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":"

A crypto analyst has uncovered a new technical pattern in the Cardano price movements, signaling the potential for a substantial rebound. Echoing this optimism, another analyst has affirmed that Cardano may have hit its bottom and could be on the verge of rebounding to $0.8.\u00a0 Analyst Declares Cardano\u2019s Price Bottom In an X (formerly Twitter) post on June 29, Captain Faibik, a crypto analyst, shared insights on Cardano\u2019s price action and future outlook. According to the analyst, Cardano\u2019s native token, ADA, is forming a falling wedge pattern on the daily time frame chart.\u00a0 Related Reading: XRP Dominance: Pundit Says Missing This Altcoin Could Be A Big Mistake   A falling wedge pattern is a unique technical formation that signals the end of a consolidation phase and the beginning of a potential reversal or continuation pattern. This falling wedge formation often indicates that a cryptocurrency has hit its bottom or swing low in a market, and is seen as a bullish indicator.\u00a0   Sharing a price chart of Cardano from September 2023 to August 2024, Faibik predicted that Cardano would be breaking out of its price correction soon. The analyst has foreseen a 72.84% surge from the cryptocurrency\u2019s current price. As a result, Faibik has urged Cardano investors to keep an eye on this crucial area.\u00a0   Sharing a similar sentiment, another crypto analyst identified as \u2018Zayk Charts\u2019 on X has also unveiled the unique falling wedge pattern on Cardano\u2019s chart. In his case, he foresees a substantial breakout between 40% to 50% for Cardano.\u00a0 Cardano Rebound Potential Tied To Crucial Level If Cardano breaks out of the falling wedge pattern, it could surge to nearly $0.8. A crypto analyst identified as \u2018Crypto Feras has revealed a crucial support level that Cardano must maintain to secure its anticipated bullish rebound.\u00a0 In his price chart, Crypto Feras highlighted Cardano\u2019s latest price actions, marking the critical support level at $0.4251 with a yellow box. The analyst warned that if Cardano fails to hold this level, it could experience another sharp decline, potentially pushing its current price to new lows at $0.24.\u00a0 Since the beginning of the year, the price of Cardano has been on a major downward trend, experiencing constant declines in both favorable market conditions and high volatility. While other altcoins like Solana and Ethereum have surged considerably, Cardano underperforms, consistently maintaining a price below $1.\u00a0 Related Reading: Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs As of writing, the cryptocurrency is trading at $0.39, experiencing a slight daily uptick of 3.24% as market conditions stabilize. Its 24-hour trading volume has also surged considerably, recording an increase of approximately 24.84%.\u00a0 With the Cardano Chang hard fork approaching, the cryptocurrency could be gearing up for a significant price turnaround.Numerous analysts are optimistic, pointing to the formation of the aforementioned falling wedge pattern as a strong bullish indicator. One analyst predicts that if Cardano breaks this pattern, its price could surge to between $0.46 to $0.81 before the year ends.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":627249,"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-627216","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":"\nAnalysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level<\/title>\n<meta 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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":"Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level","url":"http:\/\/wncen.com\/news\/cardano\/cardano-bottomed-rally-0-8\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/cardano-bottomed-rally-0-8\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Cardano.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Cardano.jpeg?fit=1792%2C1024"},"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","analyst","cardano","cardano news","cardano price","crypto","crypto analyst","crypto news"],"dateCreated":"2024-07-01T20:00:40Z","datePublished":"2024-07-01T20:00:40Z","dateModified":"2024-07-01T20:00:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-bottomed-rally-0-8\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-bottomed-rally-0-8\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Cardano.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Cardano.jpeg?fit=1792%2C1024\"},\"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\",\"analyst\",\"cardano\",\"cardano news\",\"cardano price\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-07-01T20:00:40Z\",\"datePublished\":\"2024-07-01T20:00:40Z\",\"dateModified\":\"2024-07-01T20:00:40Z\"}<\/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\/07\/Cardano.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/627216"}],"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=627216"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/627216\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/627249"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=627216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=627216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=627216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}