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Cardano (ADA) Price Prediction for August 31
NFT Gaming

Cardano (ADA) Price Prediction for August 31

by admin


The crypto market is trying to stay in the green zone, however, there are some exceptions, according to CoinStats.

ADA chart by CoinStats

ADA/USD

The price of Cardano (ADA) has fallen by 1.08% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of ADA has fixed below the local support of $0.8221.

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If the daily bar closes far from that mark and with no long wick, traders may witness a further decline to the $0.81-$0.8150 range soon.

Image by TradingView

On the bigger time frame, sellers are also more powerful than buyers. If bulls lose the $0.821 mark, the accumulated energy might be enough for a test of the $0.75 zone. Such a scenario is relevant until the end of next week.

Image by TradingView

From the midterm point of view, there are no reversal signals yet. In this case, one should focus on the interim area of $0.80. If the weekly bar closes below it, the decline may continue to the $0.70 range.

ADA is trading at $0.8202 at press time.



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Up, Down, Then Up Again? All Major Cardano (ADA) Price Scenarios Revealed
GameFi Guides

Up, Down, Then Up Again? All Major Cardano (ADA) Price Scenarios Revealed

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Cardano’s trading close to $0.87, but the charts do not look the same across different time frames. On the shorter time frame, ADA seems like it could go higher, but the daily chart does not look as good, with the Bollinger Bands showing pressure that could hold it back before it really breaks out.

On the 4-hour and 12-hour charts, ADA has been bouncing off the $0.82-$0.85 area a few times. That zone has become a short-term base, and as long as it holds, a move through $0.90 looks possible. If that happens, the price might move closer to $0.94, which could keep intraday action biased to the upside.

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The daily picture is different. The Bollinger Bands show the price struggling with the $0.85 midpoint. Instead of acting as support, that line has become resistance, and the upper band near $0.98 has not been tested since early August. That makes the chart look heavier. 

Source: TradingView

If the coin fails to stay above $0.85, another dip toward $0.82 or even $0.76 is possible.

In the end, what?

The weekly chart shows $0.96 as the focus. ADA has been capped under that level all year, and a clear move above it would mark a real reversal of the longer trend.

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Basically, Cardano’s price success depends on the timing. If the time frames are smaller, the daily will lean down, and the weekly might show a bigger move if $0.96 is cleared. Right now, it is a roller coaster ride — up, down and maybe up again, depending on the chart.



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Cardano (ADA) Price Prediction for August 26
NFT Gaming

Cardano (ADA) Price Prediction for August 26

by admin


Most of the coins are facing a correction today, according to CoinStats.

ADA chart by CoinStats

ADA/USD

The rate of Cardano (ADA) has gone down by 1.63% over the past day.

Image by TradingView

On the hourly chart, the rate of ADA is near the local resistance of $0.8577. If bulls can hold the gained initiative and the daily bar closes around current prices, there is a chance to see a level breakout, followed by a test of the $0.87 zone.

Image by TradingView

On the longer time frame, the situation is less bullish. In this case, one should focus on the level of $0.8334. 

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If the daily bar closes below that mark, the accumulated energy might be enough for a further drop to the $0.80 mark.

Image by TradingView

From the midterm point of view, the rate of ADA is far from support and resistance levels. The volume is low, which means there are low chances of witnessing sharp moves until the end of the month.

ADA is trading at $0.8487 at press time.



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Cardano (ADA) to $1: What Remains
GameFi Guides

Cardano (ADA) to $1: What Remains

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Cardano briefly reached $1 in mid-August to the delight of bulls, building on a rally that initiated after late July’s sell-off.

However, as soon as ADA’s price reached $1, it couldn’t sustain momentum and retreated afterward. This was followed by consistent attempts by the bulls to hit $1 in the days that followed, but these stalled just above $0.90.

This trend continued until this week, when markets plunged in response to macroeconomic uncertainty, wiping out millions in long liquidations at the start of the week.

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Cardano reacted with a major two-day drop from the Aug. 17 high of $0.987 to a low of $0.843 on Aug. 19. The markets, however, failed to gain momentum with the ADA price dropping to a low of $0.8215 on Friday, from where it sharply rebounded.

Cardano to $1: What’s left?

Cardano sharply rose from a low of $0.8215 to $0.9415 on Friday after Federal Reserve chief Jerome Powell signaled the central bank may not wait for perfect inflation before reducing interest rates.

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Momentum indicators such as the daily RSI have flipped into the positive zone, hinting at a slight edge for bulls, although the likelihood of consolidation remains before a decisive move.

En route to $1, Cardano appears to be forming a resistance zone above $0.9, in the range of $0.93 to $0.99, as seen in multiple retests since Aug. 15.

For Cardano to achieve $1 and above, this resistance range needs to be squashed with enormous buying pressure. On the other hand, major support is envisaged at the daily SMA 50 at $0.79 in the event of a drop.



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180,000,000 ADA in Massive Buying Spree, Price Up 9%
NFT Gaming

180,000,000 ADA in Massive Buying Spree, Price Up 9%

by admin


After multiple days of mimicking the broader crypto market downtrend, Cardano has suddenly flipped to the gainers’ side on August 22nd. 

This positive trend witnessed today appears to have been spurred by the massive Cardano whale activity recorded over the last two days, according to data shared by popular crypto analyst Ali Martinez.

According to Ali, Cardano whales have scooped up 180,000,000 ADA in the last 24 hours, a bullish move signaling resilience among large investors despite the recurring market bloodbath.

$167 million in ADA in 2 Days

While the market had only flipped positive today with Cardano seeing a sudden shift in investors’ sentiments, the data suggests that the whales had doubled down on ADA while it was on the downside.

Per ADA’s price as of press time, the total ADA tokens scooped by Cardano whales over the last 2 days is worth over $167 million, signaling renewed confidence among investors.

While whales play the role of large investors who own a significant amount of the concerned cryptocurrency, the sustained interest by the large holders despite negative trends hints at a decisive attempt to buy the dip on Cardano.

Following the massive price surge witnessed today, ADA touched a notable low of $0.82 on August 22nd and surged massively by over 9% a few hours after then. As such, the tenth-largest cryptocurrency by market capitalization has hit an intraday high of $0.93 on the same day.

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While Cardano’s ADA has traded below $0.8 during the period of the accumulation, its massive price surge suggests massive gains for the holders of the major 180,000,000 ADA tokens.

With the positive performance displayed by the asset, optimism surrounding Cardano has surged significantly as speculations predicted more rally ahead. Recent developments in the crypto ecosystem suggest institutional demand and adoption of Cardano have continued to rise.

The massive whale activity involving ADA suggests renewed confidence in Cardano’s structural values for big businesses, as the trend suggests the asset is becoming the center of attraction among high-profile investors and institutional investors.

Although ADA had just kickstarted its price surge today, investors are positive that there are more price rallies ahead which could see the asset break out to achieve a new ATH.



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Cardano (ADA) Price Prediction for August 21
NFT Gaming

Cardano (ADA) Price Prediction for August 21

by admin


The rates of most of the coins are going up today, according to CoinStats.

ADA chart by CoinStats

ADA/USD

The rate of Cardano (ADA) has gone up by 2.67% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of ADA has made a false breakout of the local support of $0.8607. However, if a bounce back does not happen by the end of the day, the correction may continue to the $0.85 zone.

Image by TradingView

On the daily time frame, the rate of ADA is within yesterday’s bar, which means neither bulls nor bears are controlling the situation. 

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Such a statement is also confirmed by the falling volume. All in all, traders are unlikely to see sharp moves soon.

Image by TradingView

From the midterm point of view, the picture is similar. As the price is far from the main levels, one should focus on the closest area of $1. If it breaks out, the upward move may continue to the $1.10-$1.20 range.

ADA is trading at $0.8642 at press time.



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Cardano (ADA) Surpasses Tron (TRX). Is Top 5 Near?
NFT Gaming

Cardano (ADA) Surpasses Tron (TRX). Is Top 5 Near?

by admin


  • Former top 3 coin 
  • Cardano’s outperformance 

Cardano (ADA) has reclaimed the eighth spot by market capitalization, surpassing Tron (TRX) and Dogecoin (DOGE). 

The “Ethereum killer” is currently valued at $33.5 billion, which places it slightly above the two aforementioned tokens. 

However, the token is still far from reclaiming its much-coveted top 5 placement. BNB is currently the fifth-biggest cryptocurrency with a market cap of $115 billion.  

Former top 3 coin 

At the height of the cryptocurrency mania of early 2018, ADA, which was a novel project back then, managed to break into the top 5. Back then, however, its market cap was considerably smaller ($18.5 billion compared to today’s $33.5 billion). Back then, XRP was the second-biggest cryptocurrency, racing ahead of Ethereum (ETH). 

However, ADA suffered a brutal drop during the 2018 bear market. By the end of the year, the token exited the top 10, with its market cap ultimately shrinking to just $895 million. 

The token ended up spending much of 2019 in the #10-#13 range before gaining a foothold in the top 10. 

During the 2021 bull run, ADA ended up reclaiming its spot in the top 5. 

In fact, ADA became the third-biggest cryptocurrency by market capitalization in early September 2021. It had a market capitalization of a staggering $94 billion ahead of the launch of the Alonzo hard fork, which finally brought smart contracts to the popular platform. 

Cardano’s outperformance 

ADA has managed to substantially outperform other major cryptocurrencies over the past week. 

It is up by nearly 14% while XRP, for comparison, has plunged by 7% during the same period of time. 

The most recent surge comes amid strong network growth and robust developer activity.

However, it should be noted that ADA is still down a staggering 71% from its all-time high of $3.09 that was logged almost four years ago.  



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