{"id":644422,"date":"2024-09-25T11:30:22","date_gmt":"2024-09-25T11:30:22","guid":{"rendered":"https:\/\/wncen.com\/?p=644422"},"modified":"2024-09-25T04:34:42","modified_gmt":"2024-09-25T04:34:42","slug":"cardano-ada-reclaims-top-10-crypto-spot-analysts-set-new-targets","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-ada-reclaims-top-10-crypto-spot-analysts-set-new-targets\/","title":{"rendered":"Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets"},"content":{"rendered":"

Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1.<\/p>\n

Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback<\/a><\/div>\n

Cardano Breaks Out To Reclaim Top 10 Spot<\/h2>\n

Cardano\u2019s price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range.<\/p>\n

Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed<\/a> the project for a \u201clack of appeal\u201d to the broader public. Additionally, many have criticized ADA\u2019s \u201cunderwhelming\u201d price action.<\/p>\n

However, the token\u2019s recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes.<\/p>\n

Technical analyst Crypto Yapper noted Cardano\u2019s recent performance. The analyst highlighted<\/a> that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side.<\/p>\n

\"Cardano,
ADA displays bullish structures in its chart. Source: Crypto Yapper on X<\/figcaption><\/figure>\n

Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token.<\/p>\n

Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure.<\/p>\n

On Monday, Cardano\u2019s token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADA\u2019s price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning.<\/p>\n

The recent performance also pushed Cardano back to the top ten cryptocurrencies<\/a> list after ADA\u2019s market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours.<\/p>\n

Analysts See New Price Targets For ADA<\/h2>\n

Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating<\/a> a higher high on the daily chart. This performance \u201cindicates a huge trend reversal for Cardano.\u201d<\/p>\n

However, he pointed out that to break above the descending broadening wedge, the token must reclaim<\/a> its second key resistance level at $0.39. If successful, the breakout could target the structure\u2019s higher price range of $0.52.<\/p>\n

\n
Related Reading: Bitcoin (BTC) On Track For \u2018Strongest September Performance\u2019, Is $90,000 Next?<\/a><\/div>\n<\/div>\n

Other analysts also highlighted ADA\u2019s performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed<\/a> out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern.\u201d<\/p>\n

To the analyst, \u201cIf crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste.\u201d ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes.<\/p>\n

\"Cardano,
ADA’s performance in the 7-day chart. Source: ADAUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1. Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback Cardano Breaks Out To Reclaim Top 10 Spot Cardano\u2019s price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range. Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed the project for a \u201clack of appeal\u201d to the broader public. Additionally, many have criticized ADA\u2019s \u201cunderwhelming\u201d price action. However, the token\u2019s recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes. Technical analyst Crypto Yapper noted Cardano\u2019s recent performance. The analyst highlighted that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side. Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token. Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure. On Monday, Cardano\u2019s token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADA\u2019s price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning. The recent performance also pushed Cardano back to the top ten cryptocurrencies list after ADA\u2019s market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours. Analysts See New Price Targets For ADA Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating a higher high on the daily chart. This performance \u201cindicates a huge trend reversal for Cardano.\u201d However, he pointed out that to break above the descending broadening wedge, the token must reclaim its second key resistance level at $0.39. If successful, the breakout could target the structure\u2019s higher price range of $0.52. Related Reading: Bitcoin (BTC) On Track For \u2018Strongest September Performance\u2019, Is $90,000 Next? Other analysts also highlighted ADA\u2019s performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern.\u201d To the analyst, \u201cIf crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste.\u201d ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":602565,"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":[12333,79508,91120,72612,12332,15234,26263,10923,88477,73938],"class_list":["post-644422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-adausdt","tag-altcoin-bullish","tag-bullish-analysis","tag-cardano","tag-cardano-ada-price-chart","tag-crypto-analyst","tag-crypto-market","tag-crypto-market-recovery","tag-descending-broadening-wedge"],"acf":[],"yoast_head":"\nCardano Reclaims Top 10 Crypto Spot, Analysts Set New Targets<\/title>\n<meta name=\"description\" content=\"ADA's recent performance has sparked a bullish sentiment among investors after its surge pushed the Cardano back to 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In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.","url":"https:\/\/wncen.com\/author\/rubmargarcia\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets","url":"http:\/\/wncen.com\/news\/cardano-ada-reclaims-top-10-crypto-spot-analysts-set-new-targets\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano-ada-reclaims-top-10-crypto-spot-analysts-set-new-targets\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/traxer-fL_7F7rwvS0-unsplash.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/traxer-fL_7F7rwvS0-unsplash.jpeg?fit=1920%2C1277"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Rubmar Garcia"}],"creator":["Rubmar Garcia"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","adausdt","altcoin bullish","bullish analysis","cardano","cardano (ada) price chart","crypto analyst","crypto market","crypto market recovery","descending broadening wedge"],"dateCreated":"2024-09-25T11:30:22Z","datePublished":"2024-09-25T11:30:22Z","dateModified":"2024-09-25T11:30:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-ada-reclaims-top-10-crypto-spot-analysts-set-new-targets\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-ada-reclaims-top-10-crypto-spot-analysts-set-new-targets\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/traxer-fL_7F7rwvS0-unsplash.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/traxer-fL_7F7rwvS0-unsplash.jpeg?fit=1920%2C1277\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Rubmar Garcia\"}],\"creator\":[\"Rubmar Garcia\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"adausdt\",\"altcoin bullish\",\"bullish analysis\",\"cardano\",\"cardano (ada) price chart\",\"crypto analyst\",\"crypto market\",\"crypto market recovery\",\"descending broadening wedge\"],\"dateCreated\":\"2024-09-25T11:30:22Z\",\"datePublished\":\"2024-09-25T11:30:22Z\",\"dateModified\":\"2024-09-25T11:30:22Z\"}<\/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\/traxer-fL_7F7rwvS0-unsplash.jpeg?fit=1920%2C1277","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/644422"}],"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\/614"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=644422"}],"version-history":[{"count":3,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/644422\/revisions"}],"predecessor-version":[{"id":644431,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/644422\/revisions\/644431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/602565"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=644422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=644422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=644422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}