The post This is When Cardano (ADA) Price May Ignite a Bull Run and Rise Beyond $1! appeared first on Coinpedia Fintech News
Cardano is enjoying a bull ride as the market sentiments flip significantly soon after the launch of its algorithmic stablecoin Djed in collaboration with COTI. Soon after the launch, the reserves swelled to over 28 million in ADA with a reserve ratio of 636%. Moreover, the fresh FOMC interest rates ignited a significant rally beyond $0.4 for the first time since November 2022.
The ADA price began to break out from the bearish trendline ahead of the release of the fresh interest rates and on the announcement soared high slicing through the crucial resistance at $0.39 that it was stuck for the past few days. However, the bullish sentiments appear to have out shadowed the bearish clouds but, the ADA price is required to surge another 15% to trigger a significant bull run.
In the higher time frame, the ADA price has broken out of the crucial zones that were mandatory to cease the prevailing bearish pressure. The upswing enabled the price to rise beyond the descending broadening wedge with an impulsive rebound. The MACD turned bullish by forming a golden cross indicating higher possibilities of an upside swing toward the upper target area.
Moreover, the other technical and fundamental upgrades that drive ADA price higher could be a bearish outlook with the U.S. dollar and a lowered interest rate hike in the coming days. Nevertheless, the recent breakout has flashed possibilities of ranging beyond $0.42 which may further test the trend reversal zone around $0.46. If the bulls maintain their strength around these levels, then a notable upswing may spark driving the price beyond $1 before the end of Q2 2023.
Cardano, like other cryptocurrencies such as Bitcoin and Ethereum, has had a bullish start to 2023. The price of ADA rose from $0.243 to $0.4, a 66.6% increase, before hitting resistance. In recent weeks, a rising wedge pattern has formed, indicating a potential correction of 15% to $0.325 if a bear cycle occurs.
On the other hand, if the bulls maintain control, Cardano may surpass $0.38. Currently, ADA is trading at $0.3719 after a 1.88% decline in the past 24 hours.
Bullish Signals For ADA
The on-chain data indicates that the bulls are dominating Cardano’s ADA and a potential price surge is expected in the near future. Approximately 4 billion ADA has been accumulated by 90,000 wallets in the trade range of $0.365 to $0.376.
ADA remains above its support level of $0.36, signaling a potential continuation of the bull run. The launch of Djed, a US-pegged stablecoin, on the ADA network this week, could further boost the cryptocurrency.
However, as with any investment, it is crucial to consider market volatility and associated risks before making a decision.
The Cardano (ADA) cryptocurrency displayed significant price action in the early days of 2023, rising over 60%. It broke out of a daily bearish trendline and is attempting to break through the resistance of a bearish pattern. Although there were some bearish interruptions, the bulls managed to maintain the rally. However, there is a possibility that an inverted impulse could cause the price to decrease in the near future.
The Cardano (ADA) price appears to have been rejected at the upper resistance of a descending parallel channel as bearish sentiment has intensified around these levels. However, there is still a chance of a bullish breakout that could lift the price to the upper resistance at $0.57, after surpassing $0.55. On the other hand, a rejection could cause the price to fall to the lower support near the 2022 bottom.
Additionally, there are upcoming events that could provide a bullish boost, such as the launch of the native stablecoin Djed scheduled for the coming week. Furthermore, the Cardano-based wallet is approaching the $4 million mark and currently stands at around $3.9 million. With nearly 1000 projects being built on Cardano, a third of them being NFTs, it is clear that the platform is attracting new projects. However, the price trend remains uncertain.
Therefore, the upcoming weekend may turn the tables for the Cardano (ADA) price and pave the way for reaching higher targets.
Orbeon Protocol (ORBN) Remains Bullish, While Theta Network (THETA) And Cardano (ADA) Show Red In Price Charts
Some new potential crypto projects have gained the attention of investors and experts in the community. Orbeon Protocol (ORBN) is one of them and has been bullish since day one. Orbeon Protocol (ORBN) has performed well compared to Theta Network (THETA) and Cardano (ADA).
Theta Network (THETA) shows a 0.86% drop casting doubt among enterprise validators
Theta Network (THETA) is only a couple of years old. The purpose of building Theta Network (THETA) was to provide its community with a high-end video streaming platform. Theta Network (THETA) mainnet works as a decentralized ledger that allows users to share computing resources and bandwidth on a P2P (Peer-to-Peer) basis.
Theta Network (THETA) users can perform multiple governance activities within the network. Theta Network (THETA) also features a Guardian network that consists of thousands of community-based guardian nodes. Reputed companies like Sony Europe, Binance, Gumi, Google, Blockchain ventures, and Samsung associate with Theta Network (THETA) as enterprise validators. The current price drop of Theta Network (THETA) has concerned its validators. The Theta Network (THETA) price charts have been showing a downturn for a while now. Theta Network’s (THETA) live price is $0.8019, which is a 0.86% drop.
Cardano (ADA) launches new improvements maintaining around $0.3 price mark
Cardano (ADA) showed a gradual price decline recently. However, CoinMarketCap tracked a Cardano (ADA) price rise. Cardano’s (ADA) live price is $0.3161, which is 0.19% up recently. Investors are still wary about staking and trading in Cardano (ADA) as it showed a continuous price drop in the past. However, Cardano (ADA) has proposed a new development in its network to attract more investors. The platform has launched the Cardano (ADA) improvement proposal (CIP) 1694, which aims to bring Cardano (ADA) into the Voltaire Era.
The Cardano (ADA) CIP upgrade is the foundation of the network’s decentralized decision-making system. The new improvement adoption is the result of a November 2022’s voting round that took place on the Cardano (ADA) developer company network.
The new proposal might have affected the constant downturn of Cardano (ADA) to turn green.
Orbeon Protocol (ORBN) impresses more investors with its advanced ecosystem; price stays bullish
Orbeon Protocol (ORBN) ecosystem provides a low-fee barrier to enter into its investing platform. Orbeon Protocol (ORBN) community members can easily invest in high-profile projects and firms with just $1. Thus, Orbeon Protocol (ORBN) investors don’t need to have millions or maintain any credit score to invest in businesses of their choice. Orbeon Protocol (ORBN) is open for everyone and gives them equal opportunity to benefit from high gains.
Businesses can raise quick funds using the crowdlending feature of Orbeon Protocol (ORBN). The platform is making it possible for businesses and projects to connect with passionate supporters from around the world. Orbeon Protocol (ORBN) takes extra care of inventors by ensuring they get their money back if a funding round becomes unsuccessful via its built-in ‘Fill or Kill’ feature. As a result, Orbeon Protocol (ORBN) ensures the funds’ safety on its platform.
Currently, Orbeon Protocol (ORBN) is in its third presale phase and is selling at an affordable price of $0.0435. The price is expected to grow 6000% in the upcoming days. Investors will be looking to buy Orbeon Protocol (ORBN) to enjoy amazing ROI.
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It looks like the crypto market is all set to enjoy a bullish weekend as the star cryptocurrency, Bitcoin has surpassed yet another important resistance of $22,000 area. Ethereum is on a similar pace leading other top ten altcoins including BNB, XRP, Cardano and others.
Among these altcoins, Cardano is considered to be among the top currencies that will enter the bullish momentum. Cardano’s ADA attained its ATH in 2021 and since then the altcoin has not spiked that level. However, the Cardano network’s boosts of strong fundamental and development activity.
Meanwhile, the experts claim that the upcoming updates of Cardano network will fuel ADA prices. As per the reports, the update is scheduled to take place on Feb 11 and is set to happen on test networks. While immediately after three days, that is Feb 14 the next update will be introduced. Once the update is successful, the smart contract developers on Plutus will have multi-threshold signature designs.
Charles Hoskinson : Token Burn Increase Market Volatility
On the other hand, Cardano has a total supply of 45 billion ADA which is more than Bitcoin’s supply positioned at 21 million. Hence, the community is under discussion regarding token burn which will push ADA’s price rally.
This token burning is a method used to reduce the total supply of a particular currency so that it creates demand. This in turn will fuel the currency’s price action. However, even though this method has helped many currencies, Cardano founder Charles Hoskinson has opposed token burning.
This is because he believes this method doesn’t create any fundamental value to the network and also he views this method as manipulative. Moreover, Hoskinson claims token burn will bring down liquidity and increase market volatility impacting investors.
Hence, the Cardano network mainly focuses on upgrading its technology rather than token burning which is a short term solution.
The crypto world woke up to the year’s first bankruptcy case filed by Genesis Global. This bankruptcy case happens to be a major blow to Barry Silbert’s Digital Currency Group as well. However, the crypto market is showing mixed signals.
The world’s first cryptocurrency, Bitcoin is selling at $20,951 with a surge of 0.88% in the last 24hrs. The similar pattern is followed by other altcoins including Cardano which has gained nearly 2% in the last 24hrs. The experts claim that the upcoming updates of Cardano network will fuel ADA prices.
As per the reports, the update is scheduled to take place on Feb 11 and is set to happen on test networks. While immediately after three days, that is Feb 14 the next update will be introduced. Once the update is successful, the smart contract developers on Plutus will have multi-threshold signature designs.
Why The Update ?
Cardano network’s IOHK Tim Harrison has shared the data related to upcoming updates on the network. This upgrade is focused on improving its interoperability along with supporting decentralized cross-chain applications.
The cross-chain applications will be supported once the update influences cryptographic primitives that are used on the network. This can be done when the common digital signature standards are introduced in the Plutus smart contract platform.
Next, Harrison describes the current issues with the algorithms which require more time, effort and are also expensive when connected with other blockchain networks like Bitcoin. Hence, the embedded features have to be introduced to support Cardano’s main digital signature called Ed25519 along with ECDSA and Schmitt signatures.
Cardano (ADA) Price Analysis
Cardano displayed a notable recovery in the past few days as the price underwent a parabolic recovery to gain the levels it traded before the market collapsed in November. However, after rising beyond $0.35, it was assumed the price may spike beyond $0.4 but the Genesis debacle could prevent a giant move towards the north.
The ADA price accomplished the parabolic recovery and despite undergoing a minor correction to form a cup & handle pattern, it surged high to reach the interim resistance. Therefore, a rejection then appeared to be imminent that occurred in the past few days. Presently, the price is trading within crucial resistance-turned-to-support levels. If these levels are not held, then a significant plunge may drag the price close to $0.3 in the next few days.
Ripple (XRP) Price Analysis
The Ripple price in the short term is displaying a sense of strength as the price levels hover within the same resistance and support levels. The recent rally did not amplify the price levels to a large extent as it did with the other altcoins. Therefore, the possibility of a rebound emerges as the bulls appear to hold notable strength to ignite a rebound.
The XRP price is testing the crucial price levels at 200-day MA, clearing which may induce strong bullish momentum within the asset. However, the market sentiments have turned slightly beamish which may compel the price to drop below these levels. Therefore, if the Genesis fiasco impacts the crypto space to a large extent, then a plunge slightly below $0.34 can be expected, else the price may remain consolidated until the next move uplifts the price beyond the reach of the bears.
The Cardano (ADA) ecosystem is thriving and expanding, with a vibrant community of members who are led by an ADA whale.
Recently, popular crypto analyst Lark Davis made accusations of slow DeFi growth within the Cardano network, citing a lack of operating decentralized applications (Dapps) and low average daily transactions of approximately 70,000.
However, the community has united in its defense of the network, citing its potential for growth and strong market performance, as evidenced by its current market capitalization of $11,673,770,289 and 24-hour trading volume of $488,542,533.
Additionally, data from Defillama indicates that the total value locked in the Cardano ecosystem is approximately $67.87 million, with top DeFi projects on the network including Minswap, Indigo, WingRiders, SundaeSwap, and MuesliSwap, which boast TVL of $27M, $11.77M, $11.01M, $7.6M, and $5.9M respectively. Despite these facts, Davis remains convinced that the Cardano network lacks the decentralized applications necessary to sustain its growth.
“Cardano impresses me. It has remained in the top 10 forever in spite of almost no defi, few working retail dapps, and just 70,000 transactions per day on average. And yet, $ada holders continue to steadfastly believe in the potential of Cardano and the vision of the chain!” Davis noted.
In response, @cardano_whale outlined all activities on the ADA network including DEXs, lending and borrowing protocols, and NFT marketplaces, among others.
Does Cardano Still Pose A Threat To Ethereum?
The Cardano network experienced significant growth during a period in which the Ethereum network was facing challenges with high network fees and low throughput.
However, Ethereum has since transitioned to a Proof of Stake consensus mechanism through its beacon chain and has received significant support from layer 2 scaling projects like Polygon (MATIC). As a result, many DeFi developers have been choosing to build on Ethereum due to its global recognition and regulatory compliance. Despite this, the Cardano ecosystem continues to make steady progress as the adoption of smart contracts attracts more institutional investors.
According to Andrew Carnegie, a prominent ADA supporter, the Cardano network is handling double the number of transactions cited by Lark Davis in his analysis.
Notably, Cardano’s (ADA) price has gained approximately 36 percent in the past 14 days. However, ADA price is down over 89 percent from its ATH, $3.09, recorded in September 2021.
Bitcoin (BTC), Cardano (ADA), and Orbeon Protocol (ORBN) are the strongest contenders for 2023. The latter stands out for its potential to revolutionize retail investors’ participation in early-stage investments. Having already skyrocketed over 805% in the presale, Orbeon Protocol’s (ORBN) sheer potential has already caught the attention of many investors. Orbeon Protocol is currently in the third phase of its presale, selling for $0.0362.
Bitcoin (BTC) is the most popular cryptocurrency ever made. Every four years, Bitcoin (BTC) was made to have halving events. Bitcoin is the most-traded cryptocurrency in the world.
Institutional investors are another thing that will help the price of Bitcoin (BTC) in 2023. Institutional investors are companies and organizations that invest money on behalf of their clients or members. Some examples of institutional investors are hedge funds, mutual funds, and endowments.
The most important thing that will help Bitcoin in 2023 is that big companies like BlackRock, Alphabet, and MasterCard are putting a lot of money into Bitcoin (BTC) to offer their customers services for investing in and paying with cryptocurrencies. Another big piece of bullish news is the upcoming “Bitcoin halving,” but that won’t happen until March 2024.
Cardano (ADA) was released as a smart contract platform that is scalable, flexible, and built for the next generation of decentralized applications (dApps). Proof-of-stake consensus is what makes Cardano (ADA) work.
Cardano (ADA) hopes to bounce back in 2023 after a bad year in which Cardano (ADA) lost more than 79% of its value. Cardano (ADA) is only worth $0.26 right now, which is more than 91% less than its all-time high of $3.10. As you might expect, most investors have lost faith in Cardano.
Analysts think Cardano (ADA) will get enough support to see its value double to $0.50, which is where it was trading in August 2022. Some think Cardano (ADA) could reach $1 in 2023 if everything goes well. This is the best-case scenario.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is a revolutionary unique crowdfunding and venture capital project that revolutionizes fundraising.
Orbeon Protocol (ORBN) uses blockchain technology to create NFTs backed by startup equity, as a form of investment. Orbeon Protocol (ORBN) lowers the entry barrier so that anyone can invest as little as $1 in a startup.
With its “Fill or Kill” mechanism, Orbeon Protocol (ORBN) puts a lot of emphasis on security, ensuring incomplete funding rounds result in a full refund for investors.
People who take part in the network will be able to earn rewards with the ORBN token. Orbeon Protocol (ORBN) has several benefits, including staking, transaction fee discounts, governance rights, and even access to exclusive investor groups.
Analysts are amazed by how much potential Orbeon Protocol (ORBN) has. They think ORBN will show more than 6000% gains in the presale. Since its presale began, the price of an ORBN token has gone up by more than 805%, and Orbeon Protocol (ORBN) is now selling for $0.0362 per token.
Find Out More About The Orbeon Protocol Presale
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Crypto markets go green within the beginning of the fresh weekly trade as Bitcoin price successfully sustains above $17,000 for more than 24 hours. Cardano’s price also received a significant bullish push that assisted the price to rebound from the lower bottom and raised beyond $0.34 since the beginning of 2023. It appears that the bulls again entered the ring as the trading volume soared more than 100% in just a couple of hours.
With the massive upswing, the ADA price remained in the spotlight as it breached several short-term indicators and previous resistance zones. Trading currently at around $0.315 after rebounding finely from the bottom at around $0.24. The bulls managed to break above the 8-day EMA and 21 -day EMA, indicating the revival of the bullish trend as they have collected several liquidity barriers.
The price due to the market crash in the last few days of 2022, plunged below the support levels of the descending parallel channel. The token hovered below the channel for a short time frame as the recent bullish push raise the levels back above the channel.
However, the price is witnessing significant bearish pressure at the moment with an intention of lowering the price levels below $0.3. However, the bulls appear to be pre-determined as the price levels are held tightly above $0.31.
If Cardano successfully maintains the day’s close above $0.3 and the weekly close above $0.35, then the path toward $0.5 may be validated. The price may maintain a notable upswing regardless of the bearish interference which is expected at frequent intervals.
The bulls after a certain period may get exhausted and allow the bears to jump in. This may slightly impact the progress of the rally aiming for a price slash towards the 21-day MA level at $0.26.
The crypto market seems to be recovering as the world’s largest cryptocurrency in the world, Bitcoin has managed to surpass the $17,000 mark leading the recovery rally. Among altcoins, the top position has been occupied by Cardano (ADA) and Solana (SOL) which have surged 20%.
At the start of the 2023 recovery rally, Solana’s price has gained nearly 70% and has managed to push the price from December 2022’s $8 to the present $13. Traders believe that Solana might rise and move past $15 in the days to come.
After FTX saw its downfall most of the cryptocurrencies were pulled back which also included Solana’s SOL. Hence, Solana closed the year 2022 with a fall of nearly 95% before bulls made their way back in 2023.
The same is with Cardano (ADA) which has managed to get positioned as the 8th largest cryptocurrency by market cap after flipping Dogecoin. This comes after Cardano successfully gained 20% in the last 24hrs and has bagged one of today’s toppers list.
Cardano’s 2023 journey has begun on a positive note after Cardano addresses holding 1M to 100M ADA accumulated more than 200 million ADA coins.
Solana & Cardano To Begin Their Next Bull Run
At the time of publication, Solana is selling at $16.38 with a surge of 22% in the last 24hrs. While Cardano has slightly dropped from its 20% gain and is now trading at $0.32 after an upswing of 17.86% over the last 24hrs.
As per its current trade, if Cardano’s ADA manages to hold on to its $0.3 level the currency can easily move beyond the $5 level soon. On the other hand, Solana’s next resistance lies at $18 and if SOL successfully claims this level the currency will begin its next bull run soon.
Bitcoin price has risen finally above $17,000 after trying hard for nearly 45 days in a row. The upswing appears to be pretty strong and hence if the price undergoes a correction phase, it may still hold above $17,000 until extreme bearish sentiments slash the markets hard. In the meantime, popular altcoins like Cardano (ADA), Fantom (FTM), Avalanche (AVAX), and other 2 tokens display possibilities of a notable upswing.
A popular analyst, Micheal van de Poppe frames the upcoming price trend of these top altcoins.
Cardano price has been trading within a bearish trade set up for quite a long time as the price after losing from $0.3 constantly failed to regain the levels. However, the fresh price surge offered a significant push beyond the interim resistance. Presently, the prices are appearing to remain inflated and reach the specified targets at the earliest.
“This one looks beautiful, but it’s approaching resistance.
Just a relief rally in a downtrend, so far.
If it wants to break that downtrend, flipping $0.30 is key.
Otherwise, I’d be looking at $0.2675 and $.25 for potential plays,”
Fantom is among the coins which have been bullish since the beginning of the year 2023. The token has been withstanding significant bearish pressure and forming constant higher highs and lows. However, the analyst here believes that the token may soon face a rejection that may drag the price lower that may even retest the lower support.
“One of the coin I’d preferably keep on trading at this point.
Looks good for a significant rally Q1/Q2 of this year.
However, approaching resistance, probably one more sweep before we buy dips at $0.2130.
Break & flip $0.23-> $0.26 next,”
Similar to Fantom, Avalanche’s price also rose significantly since the beginning of the 2023 trade. However, after a slight pullback, the price again rose high and began to consolidate. The analyst believes that the price could rise significantly beyond the interim resistance and face a rejection to head back toward the interim support levels.
“Probably markets are going to break upwards, after some more consolidation.
For AVAX, liquidity taken above the area around Christmas.
Support at $11.30 was quite clear for a bounce, missed it.
Resistance now at $12 & $12.50. Dips at $11.30 and $11,”
Other than these, the analyst also mentioned about XCAD price which is heading towards the lower support and predicts a bearish outcome.
Analysts predict a bullish 2023, but the cryptocurrency market’s signals and sentiments suggest otherwise. Most altcoins are now battling with marginal gains, while Bitcoin is attempting to break through the $17k barrier.
Amid the ongoing bear market, a cryptocurrency expert has forecasted what’s next for Ethereum (ETH) and a few other altcoins. In a recent interview with Scott Melker, the cryptocurrency analyst Cheds said that ETH has a “clean trigger level” between $1,420 and $1,430, at which time it will have overcome both the previous support level and the 200-day moving average (MA).
As for XRP, the analyst said that one has to follow through. If the bulls don’t bounce here at $0.3416, that’s no Bueno.
“That’s a great start to some type of a small-to-medium-type of a move. Maybe up to like $0.38 to $0.39. And if it doesn’t, then you’re in real trouble, because look at the long lower shadow. That’s buyers jumping in, rejecting lower prices, getting back up above lost support,” he added.
What’s next for DOGE, ADA, SOL, and MATIC?
For the popular meme-coin Doge, the analyst said,
“It’s the classic rocket ship slow bleed. Losing the MA-200, losing support here. I mean I think it’s going to about [$0.05] or [$0.057, $0.058]. Probably range lows.”
Talking about Ethereum rival Cardano, in his opinion, it could be worthwhile to short it if ADA once more reaches the $0.30 range. Cheds stressed that “the biggest bounces come in downtrends” with regard to Solana (SOL). The analyst claims he has a “positive” feeling above $11.50.
According to Cheds, Polygon (MATIC), a blockchain scaling solution, has to maintain support. He said that the $0.72 level is a crucial holding level for the asset, and about $1.06 is the next possible level to be on the lookout for.
This week’s market action has been a mix of bearish and bullish moves, with some cryptos surging while others pulling back. One of the biggest winners this week is Orbeon Protocol (ORBN), which is up 805% during phase 3 of the public presale. Meanwhile, Cardano (ADA) and VeChain (VET) are both set to surge in the coming months
Orbeon Protocol (ORBN)
To gain access to the resources necessary for success, startups must often appeal to venture capital firms or wealthy individuals. But what if an entire global community could invest in a project and enjoy the benefits of its success? This is the idea behind Orbeon Protocol (ORBN).
With Orbeon Protocol (ORBN), startups can mint equity-based NFTs that can be bought and sold on the blockchain. This unlocks a new form of capital, allowing startups to raise funds without relying on venture capitalists, banks, or other traditional funding sources.
Smart contracts remove any intermediaries, providing a more efficient and trustless digital marketplace. For example, the ‘Fill or Kill’ mechanism will automatically execute refunds if a project doesn’t hit the funding requirements.
Unraveling a new world of finance starts with the ORBN token, which is used to facilitate trades and access advanced features. For example, holding ORBN gives investors first access to new NFT listings, cheaper trading fees, and more.
Phase 1 and 2 of the public presale sold out rapidly, and it looks like phase 3 is following suit as analysts forecast ORBN to rise to $0.24 from its current price of $0.0362. Major exchange listings are right around the corner, so now’s the time to get involved if you haven’t already.
While most crypto projects fork off existing blockchains and use them as the basis for their products, Cardano (ADA) chose a different path. Cardano’s founding team has created a new blockchain from scratch, using cutting-edge development techniques and rigorous scientific research.
Cardano is designed to be an enterprise-grade platform with smart contract functionality, scalability capabilities, and interoperability between other blockchains. This has seen Cardano (ADA) attract a large following of people who think it could become the go-to blockchain in the future.
However, Cardano (ADA) seems to look better on paper than it does in practice, as Cardano has been struggling to gain adoption since smart contract development functionality rolled out in 2021. Cardano’s current price of $0.26 represents a 91.52% drop from the all-time high of $3.10 set in September 2021.
VeChain (VET) is a leading blockchain platform that empowers businesses to build scalable dApps that can be used across various industries. VeChain boasts a wide range of use cases, including tokenized asset tracking, supply chain management, digital identity solutions, distributed governance protocols, and more.
VeChain (VET) has recently been in the news for its collaboration with Walmart China to help track food safety using its blockchain technology. This is just one example of the many innovative use cases the VeChain (VET) platform has to offer, with more partnerships planned for VeChain (VET) in the near future.
Despite its strong reputation in the industry, VeChain (VET) has been struggling recently as the price dropped from $0.2782 to $0.016 over the past year. VeChain (VET) will need to find a way to recover soon in order to remain competitive with other leading platforms in the industry.
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Cardano price prediction after quite a long time turns slightly bullish, displaying a diverse trend compared to previous ones. The token has been falling for more than a year without displaying any possibility of a rebound. The ADA price fell into the liquidity zone, below which buyers remained off-the-shore, hindering the growth in 2020-21.
However, considering the new trade set-up, the ADA price is attempting to clinch above the bearish pattern and surge with a large margin. The year 2023, is believed to be the starting point wherein the trend is set to change and remain incremental for a larger time. Hence it can be believed that Cardano’s token price may grow at least a little in its value, this year.
The ADA price has been largely bearish ever since the platform marked new highs and failed to maintain a significant upswing. However, the price has been largely trading within a very narrow region throughout H2 2022 and is believed to display a notable bull run very soon. After breaking out from the inner parallel channel, the ADA price is believed to rise beyond $0.40 to $0.42 which is the first target for the upcoming rally.
Moving ahead, the second potential target for growth is around $0.80 which is believed to be reached somewhere by the end of 2023. However, bears appear to have held a strong grip around the region’s $0.9, and hence a significant rejection may make its way out that may drag the price too as low as $0.23. The Cardano (ADA) price is believed to remain bearish for a larger time which may even compel the price to drop to $0.12 in 2023!
Cryptocurrencies are trying to gain stability, but Cardano, the ninth largest, is facing challenges in maintaining bullish momentum.
Despite a difficult year in 2022, altcoins like Cardano, Ethereum, and Polygon have seen significant developer activity and partnerships, which market experts believe will drive the price of the currency. Currently, Cardano is selling at $0.25 with a 3.27% increase over the past 24 hours.
Despite being one of the busiest blockchains in terms of developer activity, Cardano has seen a decline of over 80% since January 2022.
Crypto influencer Dan Gambardello is optimistic about Cardano’s performance in 2023, citing its developer activity as a key factor in expected gains.
Currently, Cardano is seen as a major competitor to Ethereum due to its proof-of-stake blockchain. Cardano reached an all-time high of $3.101 in August 2021, but fell to a low of $0.241 in December 2022. However, the fact that Cardano has passed the $0.25 mark suggests that it may experience a bull run in the near future.
The cryptocurrency world is buzzing with enthusiasm as Oryen Network’s presale has gone live, providing investors with the opportunity to purchase tokens at a guaranteed profit from here with a launch price higher than the presale price. Oryen Network, which includes features such as staking, trading, and assets management, is already gaining traction in other communities and among influencers. With market sentiment at an all-time low, now is the perfect time for investors to get involved in a presale that is likely to launch into a new macro uptrend.
Cardano (ADA) & Oryen Network (ORY)
Meanwhile, holders of Cardano (ADA), which has been around for two years, are in the red after losing money on any purchases made in the last 2 years that are still being held. The bearish sentiment in the crypto markets has seen ADA fall 95% since the top of $3.10. In comparison, Oryen Network offers a fixed APY of 90%, or 0.177% daily rewards, paid out every 60 minutes. Not only this, but Oryen Network provides users with the ability to stake ORY tokens without giving custody of assets to anyone else or using a staking contract – increasing investor security even further.
In addition to this, Oryen Network’s automated systems make entering the cryptocurrency world easy for those who are new users and cannot access platforms like Coinbase or Binance due to country restrictions or lack of experience. Finally, there is also a treasury that backs up the ORY token called the Risk-Free Value (RFV) wallet, which adds yet another layer of protection for investors on top of what was already mentioned above.
In conclusion, it is clear why investors have flocked towards Oryen Network’s presale with hopes of gaining future profits from their investment – something Cardano holders can no longer do due to the bear market dragging down prices significantly since and continuously for the past year. For those interested in learning more about Oryen Network and how it works, it has hit news headlines recently and can be found online as well as links below.
Are you considering investing in cryptocurrency but don’t know where to start? Oryen Network and Cardano may be the perfect platforms for you. With crypto prices at multi-year lows, now is the perfect time to buy into presales that could soon launch into a new macro uptrend.
Oryen Network – Beginner-Friendly Staking
Oryen Network is a multi-use cryptocurrency platform that enables users to stake, trade, and manage assets. Recently it has released teasers of its platform, which shows off its sleek dashboard and Oryen Swap. What’s more impressive is that it allows users to stake ORY tokens from within their own wallets without giving custody of their assets to anyone else or needing to use a staking contract; this increases user security significantly. This process is made possible thanks to Oryen Network’s signature protocol: the OAT or Oryen Autostaking Technic. This provides an automated system for newbies who are just entering the world of cryptocurrencies, making it even easier for them to get started! Additionally, Oryen Network also has a treasury that backs up the ORY token called the Risk-Free Value (RFV) wallet, providing more assurance and peace of mind when investing.
It has recently been gaining traction in other communities and with Youtubers, as well as hitting the headlines on news sites across the globe – all signs pointing towards potential future growth. As such, investors can rest assured knowing they’re buying into something worthwhile with a high chance of success if they invest in Oryen Network right now.
When you add ‘Buy, Hold And Earn’ into the mix, then you can see why this would be an ideal first investment opportunity for those just starting out with cryptocurrency trading. Newbies no longer have to worry about how complicated crypto trading can be or feel overwhelmed by knowledge gaps – instead, they can simply transfer funds from their traditional bank accounts over to their preferred cryptocurrency platform (such as ORY), buy some tokens and then let their auto stacker do all the work for them – ‘Buy, Hold & Earn’ is really that simple!
On top of this, Cardano is currently at one of its lowest prices since January 2021, making now an especially good time for investment!
So if you’re looking for your first crypto investments, then look no further than Oryen Network & Cardano! With market sentiment at an all-time low right now and both platforms offering automatic staking features from within user wallets, there really isn’t any better time than now! Investing in these two cryptocurrencies could potentially make you handsome returns in the future, so what are you waiting for? Get out there and start earning today!
After A Massive 250% Gain, Snowfall Protocol (SNW) Becomes A Top Pick Over Cardano (ADA) and Chiliz (CHZ)
While Cardano (ADA) and Chiliz (CHZ) have been strong performers over the years, Snowfall Protocol (SNW) has gained tremendous momentum over the last few weeks. The token saw a massive 250% gain in its price. SNW is now among the top picks of investors looking for promising crypto assets with ROI potential.
Cardano (ADA) and Chiliz (CHZ) vs Snowfall Protocol (SNW)
Cardano (ADA) is an open-source blockchain platform developed by Input Output Hong Kong and Emurgo. It has a wide range of use cases, including cryptocurrency payments, smart contracts, and decentralized applications. With its token, Cardano (ADA) aims to become the world’s leading cryptocurrency platform for digital money transfers.
Chiliz (CHZ) is a digital currency issued by Socios.com, an online fan-voting platform for sports and entertainment. The goal of the project is to enable fans to become stakeholders in their favorite teams and have a say in team decisions. Chiliz (CHZ) token holders can vote on decisions taken at the club level, buy merchandise, and access exclusive content.
Snowfall Protocol (SNW) is a decentralized cross-chain transfer protocol that enables users to move fungible and non-fungible tokens across different blockchains. The platform was developed to create interoperability between blockchain networks. The Snowfall Protocol (SNW) dApp facilitates transfers between EVM and non-EVM compatible chains, enabling users to send tokens from one blockchain to another.
For those that aren’t technical, you can think of Snowfall Protocol (SNW) as a bridge that connects different blockchains. This bridge enables users to transfer assets across the most widely used networks and makes it easier for them to move digital assets from one blockchain to another.
dApp Prototype Announcement
With blockchain technologies, innovation and consistent progress are necessary. This is where Cardano (ADA) and Chiliz (CHZ) fall short compared to Snowfall Protocol (SNW). Snowfall Protocol (SNW) announced the prototype of its dApp, showing that the platform is well on its way towards achieving a 1000x.
Meanwhile, Cardano (ADA) and Chiliz (CHZ) have not brought meaningful solutions to the blockchain industry. They are overhyped and are not in the same league as Snowfall Protocol (SNW).
Investors and crypto enthusiasts looking for an undervalued asset should consider Snowfall Protocol (SNW), as the token has seen tremendous growth in a short period of time and is poised for further growth.
With its rapid price surge, Snowfall Protocol (SNW) is quickly becoming the preferred choice for investors looking for high ROI potential crypto assets. The platform has already gained traction among the cryptocurrency community and it’s only just beginning. By being an early investor, you can get in on the action and benefit from the growth of SNW’s price.
Moreover, with its unique interoperability model, a growth of more than 1000x is projected.
The bulls appear to be gaining traction in the cryptocurrency market, with some speculating that a bull run may be imminent. According to CoinGecko, the total market capitalization of all cryptocurrencies has remained around $845 billion over the past 24 hours, still below the $1 trillion mark.
However, the market has been largely influenced by a recent increase in US consumer confidence, leading to a decline in the value of many cryptocurrencies.
YouTube influencer Pizzino has warned his 279,000 followers in a new video that the cryptocurrency Polygon (MATIC) could potentially drop by 30% from its current price of $0.798 if it falls below a key support level in the near future. MATIC has remained stable between $0.70 and $1.00, but recent lower peaks on its weekly chart suggest a minor breakdown may be occurring.
If Pizzino were to trade this cryptocurrency, he would reportedly set stop orders below the $0.70 mark, which could potentially cause the price to fall to the range of $0.30 to $0.40. However, Pizzino advises caution and notes that if these lows are broken, MATIC may return to the $0.50s or $0.60s.
According to him, the cryptocurrency Solana, an alternative to Ethereum (ETH), may drop to $8 to $9 due to its inability to fully recover from a recent dip on the FTX exchange.
Solana will enter a risky period with potentially low returns if the market can hold at its current levels of around $12 to $14. At present, the cryptocurrency appears to be attempting to test its $11 support level. While a swift bounce after the FTX incident could have brought Solana above the $25 mark, it seems likely to fall again in the near future.
So if $11 is taken out now. It will be down 95%-96% from its all-time high. Dropping back to those earlier levels, between $8 and $9, would result in a loss of around 97%.
At this writing, the price of a share of Solana is $12.19.
According to Pizzino, the cryptocurrency ADA is expected to drop to around $0.20 before finding support. He suggests focusing on the range of $0.10 to $0.20 for this cryptocurrency. It is unclear whether a bottom pattern will form and lead to an upward breakout in the future.
Many of these cryptocurrencies may take a long time to recover and may test past resistance levels on linear charts before showing signs of a bear market downturn on logarithmic charts. Currently, ADA is in a state of limbo, and Pizzino warns that there may be a significant amount of difficulty in the coming weeks and months
The price of ADA is $0.255 at the time of writing.
Cardano price is trading within a steep bearish trend and does not display the possibility of any rebound in the near future
The price in the coming days is expected to display a fakeout and hence believed to trap strong hands around the higher levels very soon
The Cardano price continues to trade below the crucial support levels at around $0.3 and fails to reclaim these levels. Mainly due to the dropped volume and volatility the price trend is expected to continue to trade within the descending channel. However, the current trade set-up flashes acute bearish signals due to which the price is believed to drop from $0.23 to $0.2 levels very soon.
The ADA price currently appears to be the weakest altcoin within the crypto space as it made a couple of pullbacks which broke down from the consolidation. Moreover, a healthy pullback below the $0.25 level is quite possible to ignite a significant upswing toward the upper target above $0.28 in the near term.
Meanwhile, if the market participant believes it could be the end of the bearish trend, then they may find themselves trapped at highs. As a dreadful drop is expected to follow the minor upswing.
Below are the key points to be noted
- A false breakout could be expected as the levels reach beyond $0.27 levels
- The volume has been growing in case of liquidations and hence it can be assumed that the traders could have been more interested in shorting the price rather than long
- If the BTC price undergoes a dump, then the other altcoins are also expected to drop heavily in the coming days.
- The next targets to keep a close watch on that could be fine entry points are $0.25, $0.2, and $0.182.
Considering the above trade set up it is now extremely skeptical whether the ADA price will be able to survive the bear market or not. However, the upcoming yearly close could turn out to be more pivotal for Bitcoin as the Cardano (ADA) price and the other altcoins could follow the trend.
The bearish volume has piled up, due to which the top 9th crypto is currently trading below the crucial resistance at $0.3. Moreover, crypto is flashing huge bearish signals which could drive the crypto toward new lows soon. The ADA price witnessed a fresh dismissal from the $0.28 support levels to hit the bottom at around $0.2491.
The price at the moment continues to consolidate losses as it appears to accumulate strength to break above the resistance zone at $0.26. The price may face the first resistance at $0.26 which is 0.23 FIB level.
The next major resistance could be around $0.29 which coincides with the 55 SMA in the mid-term. A clear uptick beyond these levels may break the resistance at $0.3 enabling a spike beyond $0.32, while the bulls may escort the price towards $0.350 levels.
Conversely, the bearish scenario includes the ADA price facing rejection from the current support at $0.248. This may break the last point of defense at 0 FIB levels which may trigger a fresh giant move towards the south reaching the $0.2 support. However, some of the current happenings on the Cardano network, squash the bearish scenario of the asset.
- Cardano secured the highest spot in the latest GitHub weekly development report with 542 outperforming top blockchains like Polkadot, Cosmos, Ethereum, etc.
- The development activity also surged significantly high marking new highs every new day
- ADA total weighted sentiment has been bullish, trading within the positive range for quite a long time regardless of the direction of the price.
- Lastly, the ADA top addresses holding between 100 to 1 M ADA tokens have been incremental in the last few days.
Collectively, the Cardano(ADA) price regardless of being extremely bearish at the moment, appears to be pretty bullish in the long term. Network growth which accounts for the development activity, transacting address, high buying volume, etc is all slowly moving toward the skies. Hence, despite a bearish end for 2022, a notable recovery phase may kick in and uplift the price from the bearish captivity.
The market has seen digital assets being hammered by the Federal Reserve’s interest rate rises, and the collapse of FTX, the world’s former second-largest cryptocurrency exchange, valued at $32 billion at its height, has brought the crypto industry under severe scrutiny and triggered rising losses.
Jim Cramer, presenter of the American financial news program Mad Money on CNBC, is well noted for his negative views on the cryptocurrency market. Cramer publicly criticized SOL, DOGE, and XRP as scams just a week ago.
He went on to say that he thinks even more obscure coins like XRP, DOGE, ADA, and MATIC will crash to 0 or near zero prices in the near future.
Cramer has also pointed out that the market value of Tether, a so-called stablecoin that is meant to be kind of anchored to the dollar, is still at a $65 billion market valuation, and that there is still a whole industry of crypto boosters trying frantically to keep all of these things up in the air, not unlike to what occurred with terrible stocks after the dotcom crash.
Cramer is Taking a Jab at XRP again
Cramer just does not like cryptocurrencies in general, but the cryptocurrency Ripple (XRP) seems to be the one he dislikes the most, and he has once again taken a dig at the coin. Regarding XRP, DOGE, and LTC, he said that he has not yet found anybody who accepts them as payment.
The media celebrity expressed his most recent thoughts on cryptocurrencies when appearing on an episode of CNBC Squawk Box only the day before. In this most recent interview, he made it quite plain that he thinks these cryptocurrencies are destined to be eradicated from existence.
“I think you should be negative on crypto. I’m negative on XRP, LTC, and DOGE because I haven’t been able to find anybody who really takes them. It’s like $80 billion worth of non-Bitcoin that’s destined to be wiped out.”
Cramer said that he is not especially gloomy about assets such as crude oil because he thinks that there will be a rebound when he was asked to provide his perspective on the current generally bearish mood.
It’s interesting to note that Cramer put his money into the top two digital currencies in 2020 when Bitcoin was priced at $12,000 a coin. A year later, when the price of the king cryptocurrency reached an all-time high near the level of $69,000 and the price of Ethereum also soared, he utilized the profit he made from BTC and ETH to purchase a farm and a boat.
Cardano (ADA) was once one of the most popular cryptocurrencies in the world. Early in September 2021, ADA hit an all-time high of $2.91, and it seemed as though anything was possible. Over the course of a little more than a year, a lot has changed. Since then, ADA price has been falling drastically. The token has fallen by 77.43% over the past year, reaching a low of $0.30.
Therefore, even though many investors are optimistic that Cardano would turn back, it now seems unlikely. Can ADA Price hit the peak it previously attained?
No, Cardano is likely to continue losing value in the near future, according to Coin Bureau presenter Guy, who goes by the alias Guy. He discussed ADA’s future as the bear market remains intact. However, he explained that the blockchain’s ability to carry out its intended five stages of evolution will ultimately determine how well the smart contract platform performs over the long term.
“Although ADA is likely to continue declining until we hit the true bear market bottom, its long-term performance ultimately depends on Cardano’s upcoming milestones.”
Cardano’s Next Key Stages
Guy highlights some of the next key stages for ADA and said that five stages make up the official plan for Cardano. He said that it is currently at the fourth stage, known as Basho, which emphasizes on scaling. A scaling solution named Hydra will begin to be implemented in Basho next year, and it is one of the few remaining milestones in the project.
The presenter said that Basho would enhance the “underlying performance of the Cardano network to better enable growth and acceptance for large transaction volume applications.” The blockchain project’s last phase, known as Voltaire, will introduce a “vote and treasury system,” allowing network users to influence how the blockchain will develop in the future.
The crypto markets again turn extremely uncertain as the Bitcoin price flutters on and off of $17,000. Most of the altcoins along with Cardano price are closely following the star crypto which has led to huge price variations in the past 24 hours. However, the community remains bullish on Cardano as the market participants and long-term investors believe a notable upswing may be fast approaching.
What Could be the ADA Price on 31st December 2022?
Cardano community on various platforms have displayed their support for the platform and is extremely confident about the upcoming bullish narrative. The Coinmarketcap’s price estimate feature allows the community to record their price estimates for a certain period of time and then offers an average price accordingly.
Following the same, ADA price’s average levels are speculated to be around $0.4788 by the end of 2022. Therefore, it can be said that the community is expecting a 50% jump in the next fortnight as ADA prices are believed to close the yearly trade close to $0.5.
While the community is bullish, the fact is that ADA price continues to trade under a huge bearish influence with a couple of indicators turning extremely bearish.
Firstly, the digital asset continues to hover below the 50-day MA levels which are the pivotal levels for any cryptocurrency, to begin with, a bullish trend.
Moreover, the price is trading around the lower crucial support and appears to be poised to break down from these levels. A daily close below $0.31 may validate a bearish trend which may further drop the price below $0.3. Presently, the Cardano (ADA) price is trading around $0.3015 with a drop of 0.8% in the past 24 hours. Meanwhile, the trading volume has risen significantly by 12% recording $ 182.74 million.
Cardano price has been largely bearish for quite a long time, being unaffected by the market conditions
The technicals have been extremely bearish due to which the price may soon encounter a fresh price plunge soon
Cardano, after breaking down from the crucial support at around $0.35 is considered to remain within the bearish trend until it reclaims back the levels. The price earlier had reached lower lows at around $0.301 in August 2021 and $0.295 in November 2021. Post to which the price has been hovering along the same levels and constantly deafening the last point of defense at $$0.296 multiple times.
However, the lowest support for the ADA price is around $0.15 which appears to be imminent if the bulls fail to sustain at the present levels. Besides, the RSI is displaying some bullish divergence, due to which some risks could be invalidated. Regardless of the bearish pattern in the longer time frame, the price continues to trade within a descending parallel channel.
This is considered a bullish pattern as the price could undergo a significant breakout but the trend within the channel remains largely bearish. The ADA price is trending very close to the channel’s support line, being in a lower position since the beginning of November 2022. Secondly, the daily RSI has broken down from its bullish divergence which is an indication of a bounce.
Therefore, the yearly close can be considered extremely pivotal for the Cardano price which may have a larger impact on the yearly end. The bulls are expected to hold the price right up and if they fail to do so a major drain may drag the ADA price lower very soon.
While the bearish action over the entire crypto space appears to have eased a bit, Cardano’s price chooses to remain largely unimpacted. Cardano now has reached the 9th spot after failing to flow along with the current market trend, while Polygon’s market cap is just a couple of billion away. Hence, ADA appears to be in a crucial position where-in a small drop may expel the asset out of the top 10.
However, things are expected to change in 2023, as multiple network upgrades and developments which are scheduled could have a larger impact on the ADA price ahead.
Cardano’s Voltaire Era to Begin
Cardano recently stepped into the Basho Era from Goguen which mainly focuses on scaling. However, just a few weeks from now, the network is expected to enter the next phase of its roadmap, Voltaire. This era focuses on the good governance by providing the final pieces required for the Cardano network to become a self-sustaining system.
The ADA holders may now be able to stake their tokens and participate in the governance of the network by voting on the proposals.
Furthermore, the developers have also released their blockfront-backend-Ryo v1.1.1 update. However, it is not a major upgrade but it displays the efforts put in by the developers to strengthen the ecosystem.
On the other hand, the Cardano development activity has also risen significantly after it rebounded during the last few days of November. This indicates that the network is due for constant upgrades and developments in the coming days.
Besides, the daily on-chain transaction volume also witnessed an uptick, indicating a rise in activities within the network. Presently, Cardano (ADA) price is trading at $0.3148 with a slight jump of 1.40% in the past 24 hours.