As a seasoned analyst with over two decades of experience in the crypto market, I’ve seen my fair share of bull and bear runs. The recent developments surrounding Cardano (ADA) have piqued my interest and made me optimistic about its potential price surge.
Over the past 145 days, the price of Cardano has consistently trended within a descending channel. However, in the last 24 hours, the ADA price has shown remarkable resilience, outperforming during a significant downturn in both crypto and traditional markets. Notably, since the Chang hard fork update on September 1, the Cardano network has been a hot topic in cryptocurrency news. Recently, it has garnered backing from Chainlink, DexScreener, and Metamask
Cardano Price to Surge as Chainlink Integrates Network
Chainlink unveiled plans to link its data feeds with the Cardano blockchain, offering swift and secure market data. This integration is crucial for decentralized exchanges like Minswa, Dexhunter, and Saturn Swap operating within the network
New assets supported by #Chainlink Data Streams ↓
ADA represents Cardano, while ILV is for IlluviumIO. INJ stands for Injective, JTO refers to jito_sol, LDO signifies Lido Finance, ONDO corresponds to OndoFinance, and SUI symbolizes SuiNetwork
— Chainlink (@chainlink) August 30, 2024
It appears that you are referring to the production or delivery of real-time market data with high frequency, a feature particularly beneficial for Direct Expanded Spiral Enhanced Systems (DESS)
Is Meme Coin Season Coming to Cardano?
On September 3, Metamask announced they would support Wallet Snap, a Cardano wallet built by NuFi.
As a diligent analyst, I’d like to highlight the innovative solution, my own words being: “I’ve discovered the Cardano Wallet Snap developed by nufiwallet, which is a game-changer for MetaMask users. This tool empowers them to effortlessly establish Cardano accounts, seamlessly connect with Cardano decentralized applications, and efficiently manage their ADA, tokens, NFTs, and more.”
— MetaMask Developer (@MetaMaskDev) September 3, 2024
It appears that you’s is the ‘s are the integration will allow MetaMaskers to create Cardano bringing to bring Cardano into the fold, as it has long been the ‘black sheep’ sheep’s, and connects, as it has long been ‘black sheep’er Sheepur’s, as it has long been’s, dApps It appears to dApps, as blockchains. This is it allows MetaMasked’, as it has long been the ‘s, and manage assets on the integration will bring MetaMask users to bring Cardano, connect to beenant’er. cardano accounts, as it has long been the black sheep’er, it, a black sheep’s, it has been the ‘black sheep’
There’s talk suggesting that DexScreener, the top platform for real-time analysis of decentralized exchanges (DEX), could potentially be working with Minswap, Dexhunter, and Saturn Swap, aiming to integrate the Cardano network onto their platform
As far as I am aware, dexscreener has indeed integrated Cardano and is currently in touch with Minswap, Dexhunter, and Saturn Swap for potential collaborations
Cardano community made this happen and the algo community gave us a hand.
This is a W for onboarding people to $ADA
— EL (@TheUnpopularEL) September 3, 2024
Furthermore, starting tomorrow, Snek.fun – an adaptation of Pump.fun on the Cardano blockchain – will debut, leading some investors to believe that the time for Cardano’s meme coin era could be approaching soon
September 5th
— snek.fun (@snekdotfun) September 3, 2024
Over the past day, the value of ADA decreased by 0.8%, now being traded at $0.3222. This decline could pave the way for an increase in Cardano’s price, similar to what was seen with Tron (TRX), which climbed two positions and joined the top 10 largest cryptocurrencies by market capitalization
Cardano Price Eyes 28% Surge Could Overtake DOGE For 9th Spot
Since April 2024, the value of Cardano has been following a downward trend within a falling channel, with support typically found at roughly $0.3050 and resistance levels around $0.3500 and $0.4000
Examining the latest candlestick pattern close to the underlying support suggests a possible price reversal, given that it might shape into a double bottom configuration with the neckline. This neckline aligns with the $0.4000 resistance level. The extended lower wick on this candlestick indicates strong buying pressure, which is a positive sign for potential bullish movement
Should the cost surpass the resistance at $0.4000 with substantial trading activity, it might suggest the conclusion of the downward trend and the commencement of an upward trend. This potential price increase would amount to a 28% rise, propelling Cardano towards a market capitalization of approximately $14 billion, placing it slightly above Dogecoin in the ninth position on the CoinGecko ranking
Instead, if the price drops below $0.3050, it might signal a resumption of the downward trend, and it’s wise to reconsider your positions
Cardano, much like Tron (TRX), is often overlooked as an underestimated contender. However, a swift increase in ‘degenerate’ trading volume and user activity could propel it back to prices unseen since its early days, catching many off guard
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2024-09-05 06:10