Altcoin
Analyst Reveals How High Cardano Price Can Rise, Here Are The Targets
The Cardano price has surged more than 8% to an intraday high of $0.837. This bullish momentum is supported by a combination of rising on-chain activity and technical indicators pointing to further potential gains. On-chain data reveals that ADA’s daily trading volume has hit a seven-month high of $52.26 billion, while whale transactions have reached a six-month peak.
Further supporting the crypto rally, futures’ open interest (OI) on ADA has also climbed significantly. OI at exchanges surged to $735 million on Wednesday. This current price rally has led some analysts to weigh in on future price targets for the cryptocurrency.
Key Targets for Cardano Price Growth
As Cardano price continues to gain momentum, analysts are projecting a range of potential targets based on its historical price patterns and technical indicators. The first target focuses on the $1.00 psychological level, which aligns with the 61.8% Fibonacci retracement level. Closing above this mark would signal the possibility of further gains.
Beyond $1.00, analysts have outlined several bullish scenarios. The least optimistic outlook suggests Cardano price may retest its previous all-time high of $3.12. In a more favorable scenario, ADA could double its all-time high, reaching $6.00, driven by increased adoption of the Cardano blockchain ecosystem.
The most bullish case points toward a price range of $12.00 to $15.00 if the current crypto rally continues and market conditions remain favorable.
Another prominent analyst shared insights into ADA’s potential by highlighting its consistent movement within an ascending price channel over several years. According to the chart, Cardano price has rebounded off the lower boundary of the channel before surging to test upper levels.
The chart also illustrates a pattern of accumulation and breakout phases, suggesting robust investor activity. The analyst emphasized that ADA is currently testing support within this channel. More so, he predicted the crypto would hit $3.5 on the low side and a possible rally to $10 on the upside.
On-Chain Metrics Supporting Cardano’s Momentum
Cardano’s futures Open Interest (OI) has surged significantly, reflecting increased market activity and bullish sentiment. According to Coinglass, OI rose from $585.37 million earlier in the week to $735 million on Wednesday, marking its highest level since November 2021. This rise in OI indicates a notable inflow of capital and growing confidence among investors in ADA price trajectory.
The current Cardano price rally is underpinned by strong on-chain metrics indicating heightened investor activity. According to Santiment, ADA whale transactions have surged 145% over the past month, reflecting increased interest among large holders. Wallets holding $10 million or more in ADA have expanded their positions significantly, boosting confidence in the cryptocurrency’s growth trajectory.
Additionally, Cardano price gains coincide with rising decentralized finance (DeFi) activity on its network. Data from DeFiLlama reveals that Cardano’s Total Value Locked (TVL) has climbed to $490.7 million, nearing its all-time high. The uptick in DeFi engagement, combined with increased trading volume and whale activity, reinforces the bullish sentiment surrounding ADA.
ADA Technical Indicators
Meanwhile, the MACD indicator on the 24-hour chart demonstrates a bullish momentum for Cardano (ADA), with the MACD line crossing above the signal line, supported by a rising histogram. This setup typically indicates increasing buying pressure and a continuation of upward price movement, as seen in ADA’s recent surge.
Source: TradingView
In addition, the Bull Bear Power (BBP) indicator shows a positive trend, with values above zero, signaling that buyers are currently dominating the market. The rising BBP reflects increasing strength in bullish momentum, further reinforcing the crypto rally.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Dark Defender has again provided a bullish outlook for the XRP price, predicting that the altcoin will be the “one” over Bitcoin and Ethereum. The analyst outlined why he is confident that XRP could soon dominate the leading cryptocurrencies by market cap.
Why The XRP Price Could Dominate Bitcoin & Ethereum
In an X post, Dark Defender outlined reasons why the altcoin is the “One” and why the XRP price will dominate Bitcoin and Ethereum. First, he stated that the altcoin is the only coin with regulatory clarity, considering that Judge Analisa Torres has declared that the altcoin isn’t a security. Moreover, the US SEC has dropped the Ripple lawsuit, which is also bullish for the altcoin.
Secondly, the analyst alluded to the fact that XRP could be included in the Digital Asset stockpile, which US President Donald Trump created through an executive order. He also remarked that ETF approvals are imminent, which also provides a bullish outlook for the altcoin.
Market expert Nate Geraci also recently predicted that XRP ETF approval is only a matter of time. Polymarket data also shows that there is an 87% chance of an approval this year.
Meanwhile, Dark Defender stated that Ripple stablecoins are coming including ones that will be pegged to other currencies, just like the RLUSD. In line with this, the analyst asserted that it was not Bitcoin and it has never been ETH but instead XRP.
In another X post, Dark Defender stated that XRP has formed a great bullish rectangle pattern. Based on this, he asserted that this consolidation will be over very soon and that the next leg will welcome new all-time highs. His accompanying chart showed that the altcoin could rally to $11 when this consolidation period is over.
Bear Case For The Altcoin
Amid this bullish outlook for the XRP price, legendary trader Peter Brandt has raised the possibility of the altcoin dropping to as low as $1.07. He revealed that the crypto is forming a textbook head-and-shoulder pattern. The trader added that XRP is now range bound.
Above $3, Brandt stated that he would not want to be short while below $1.9, he would not want to own the altcoin. He further remarked that the bearish pattern projects a decline to $1.07.
However, other crypto analysts such as Javon Marks are still bullish on the altcoin. Marks recently suggested that the XRP price could witness a 570% surge as price and RSI break out to the upside.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Cryptocurrency exchange Binance has released the results of its Vote to List program and is set to begin spot trading of selected tokens. The quartet with the most votes includes MUBARAK, BROCCOLI, TUT, and BANANA, memecoins with thriving ecosystems.
Binance Releases Vote To List Results
Binance has released the official results of its Vote To List program, disclosing plans to list four projects. Per the announcement, the selected projects garnered the highest number of votes and scaled Binance’s due diligence.
The quartet includes CZ’s Dog (BROCCOLI), Banana For Scale (BANANA), Tutorial (TUT), and Mubarak (MUBARAK). Going forward, selected cryptocurrencies will be moved from Binance Alpha to the Spot Market.
MUBARAK received the highest number of votes with 8,251 valid votes with Binance stating that the four tokens will be marked with seed tag. Binance applies seed tags to high-risk tokens as a measure of protection for users.
Apart from the votes, Binance says a final decision to list the tokens hinged on historical token performance, risk assessment, and organic voting patterns. While CreatorBid (BID) came second in the voting, it appears the project was excluded based on further evaluation.
Binance excluded Pi Network from the Vote to List initiative, limiting eligible projects to the BNB Smart Chain Network.
Memecoins Are Having A Field Day
The selected tokens in the Vote to List program are all memecoins with pundits predicting the rise of the tokens. Despite the soaring enthusiasm, a cross-section of users has expressed displeasure at the choice of tokens to be listed.
Critics say the selected memecoins do not have the same cult following as memecoins from 2021. They argue that the memecoins are mere random words mentioned by thought leaders in the cryptoverse. However, Ark Invest’s Cathie Woods says memecoins will lose value in the near future after the hype cycle wanes.
“Short-term volume gets them listed and then they wonder why the hype dies in a few weeks and retailers start talking bad about memes,” said one critic.
In other exchange news, Binance has released an update on six tokens, reducing their collateral ratios under portfolio margin.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Moein Haddadian, a TradingView crypto analyst, has unveiled a new Dogecoin price prediction, suggesting that a breakout is on the horizon. The analyst highlights key resistance levels that must be cleared before the popular meme coin experiences a price recovery above the $0.3 threshold.
Dogecoin Price Faces Resistance On Path To Recovery
Dogecoin has been struggling to regain its upward momentum after trading within a clear downtrend for months now. However, the meme coin’s recent price action suggests that its current momentum may be shifting from bearish to bullish.
According to Haddadian’s Dogecoin chart analysis, the meme coin recently broke above a descending trendline, signaling that sellers may be losing control. The analyst highlights the $0.25 price point as a critical resistance level for DOGE, indicating that a confirmed breakout above this point is crucial for bulls to establish dominance and solidify a bullish trend.
If bulls manage to push the price beyond the resistance level and sustain the breakout, Haddadian expects DOGE to rise toward its next target of $0.30 – $0.334. This price level aligns with a previous supply/resistance zone, highlighted by the larger grey area in the analyst’s price chart.
While an upside breakout for DOGE remains a possibility, the TradingView analyst reveals that this predicted rally can only occur if certain conditions are met. Dogecoin’s $0.16 support level plays an important role in its current bullish structure and its ability to reach the $0.334 target.
Haddadian explains that if the meme coin fails to hold above the support level, the projected bullish scenario could be invalidated, and its price may decline further toward $0.122 or $0.113. Based on the analyst‘s chart, the ideal setup for a sustained recovery for Dogecoin would be to experience a brief consolidation above $0.205 before a breakout rally.
Once Dogecoin crosses its previous resistance level between $0.30 and $0.334, Haddadian predicts that the meme coin could skyrocket to a price high of $0.484. On the flip side, a breakdown below the support level at $0.113 could push Dogecoin’s price as low as $0.08, completely canceling the analyst’s bullish outlook.
DOGE To Enter New Bullish Phase
Crypto analyst Ali Martinez has shared a price chart featuring a SuperTrend indicator, which suggests that DOGE is about to enter its next bullish phase. The grey-shaded area on the chart represents the SuperTrend resistance zone at $0.21, which Dogecoin has remained below throughout its downtrend.
With its price currently sitting at $0.19, Martinez predicts that a breakout and close above the $0.21 resistance could turn Dogecoin’s price action bullish. On the downside, failure to break this key level could lead to a continued bearish or sideways movement.
Featured image from iStock, chart from Tradingview.com
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