Institutional adoption remains a major catalyst for the expected breakout as their activities have led to huge ecosystem transactions.
Cardano (ADA) has had one of the best performances over the last three weeks, surging over 200% toward a 2.5-year high. Today, the cryptocurrency rose over 20% to break above the $0.90 mark, fueling a bullish sentiment for the long-awaited $1 target. Related Reading: Ethereum Attempts Key Breakout: Analysts Set Next Target As ETH Reclaims $3,200 Cardano Makes New Year-High Above $0.90 On Friday, Cardano broke past the $0.81 resistance and skyrocketed toward the $0.90 mark, making a new year-high of $0.97. This performance represents a 22% surge in the last 24 hours, driving the token to its highest price since late April 2022. Cardano peaked above the $3.10 mark three years ago but lost its bullish momentum as the crypto market struggled, hitting its lowest price of $0.22 in June 2023. Since dropping 92% below its all-time high (ATH), ADA has been heavily criticized for underperforming the rest of the market. Nonetheless, the cryptocurrency recovered during Q1 2024 highs, reaching the $0.81 mark before losing 66% of its gains in the next few months. The recent market rally has seen ADA outperform most altcoins in the last three weeks, renewing interest in the cryptocurrency. According to CoinGlass’ data, Cardano’s open interest (OI) surged by 28.25% in the past 24 hours, hitting $855.5 million today. Additionally, it has jumped over 11% in the past four hours, suggesting increased activity and confidence among crypto traders. ADA To Hit $1 Soon? Cardano investors and crypto analysts have recently expressed their bullishness over ADA’s “fire” performance. Crypto analyst Ali Martinez noted that Cardano has surged over 200% this month, fueled by whales and institutional investors. Per the post, the volume of large ADA transactions on the network had increased by over 297% since the US election, reaching $22 billion on November 19. Martinez signaled that these large transactions are related to high accumulation levels, as whales holding $1 million to $10 million in ADA increased their positions by over 100% in the last 30 days. He also highlighted that ADA seems to be mirroring its 2020-2021 price action. As reported by NewsBTC, the analyst has suggested the cryptocurrency is set to experience a 2,000% run toward the $6 mark if it continues to follow its past behavior. Related Reading: Crypto Community’s Revenge: Solana Memecoin Rug-Pulled By Gen Z Trader Hits $80 Million Market Cap As the price soared past $0.90, Martinez pointed out that the $0.80 resistance, where 48,000 addresses had bought 1.2 billion ADA, was a “key area of support to watch for the bullish thesis to hold.” Analyst Sebastian highlighted that, after the $0.80 resistance, “there isn’t much resistance until $1.2.” As such, ADA could potentially see “an explosion from here” and target the long-awaited $1 mark over the weekend. As of this writing, ADA is trading at $0.97, a 46% increase in the last seven days. Featured Image from Unsplash.com, Chart from TradingView.com
Polkadot surges 21.94% as it breaks key levels, targeting further gains.
Hidden opportunities are emerging in the ever-evolving world of cryptocurrency. A select few coins are showing remarkable promise, yet remain unnoticed by many. These digital assets may soon shine, offering potential gains for those who act promptly. Identifying these under-the-radar contenders could be crucial for anyone looking to capitalize on the next big crypto surge.
Dogecoin bulls predict there will be a second wave that could push the price of DOGE above $2.
The post 2 Altcoins That Could Outshine Bitcoin and Ethereum in the Next Big Market Surge! appeared first on Coinpedia Fintech News While Bitcoin and Ethereum dominate the crypto space, there are other digital currencies ready to take the spotlight in the next market upswing. Two lesser-known coins are showing strong potential to outperform the giants. This introduction uncovers these promising assets that could lead the pack in the upcoming surge. DOGEN: The First Memetoken for Alpha …
Ethereum (ETH) price trades today at as of . Ether prices hit a daily high of today after rising % on . Why is Ethereum Price Rising Today? After crashing 11% in the past three days, Ethereum price today is up % and trades at $3,042. As of November 16, there are promising signs that The post Ethereum Price Today: ETH Needs to do This For $5,000 appeared first on CoinGape .
King Elon could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. King Elon (KINGELON), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because KINGELON is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, King Elon can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to
The latest predictions for Bitcoin (BTC) hint at a thriving future, with market analyses suggesting a possible surge to six figures by early 2025. As institutional interest grows, current market
With bitcoin reaching unprecedented heights, critics have come out in full force, dusting off age-old arguments. The tired accusations resurface: calling it a pyramid scheme, claiming it’s worthless because it isn’t physical, or likening it to the infamous Tulip mania. These overused jabs seem to have become a standard playlist whenever bitcoin captures attention. The