Accéder au contenu principal

Crypto Analyst Predicts Major Moves For Cardano As ADA Closes December In Profit

The Cardano (ADA) price could be finally set for that parabolic move to the upside based on this crypto analyst’s prediction. This comes as the crypto token is about to record its most profitable December since 2017. 

ADA Could Rise To $0.7

In a video on his YouTube channel, crypto analyst LuckSide Crypto stated that this was a “moment of truth” for ADA’s price as it could break the current resistance and rise to $0.7. On the other hand, he also mentioned that there was a bearish possibility as ADA could also see a move to the downside. If that were to happen, the token could drop to as low as $0.40.

The crypto analyst noted the fact that there was a huge disparity between the prices on the bullish and the bearish side. That is why he believes that any move that Cardano makes from its current price level will be “explosive.” ADA’s current price range of around $0.61 was in focus as LuckSide Crypto pointed it out as where the highest concentration of liquidity is at right now. 

The crypto analyst seemed optimistic about ADA making a bullish move as he highlighted several indicators that suggest so. One of them is a bullish pennant, which he said is “playing out perfectly.” This represents a good sign, as the 20-day moving average is also still ascending. LuckSide Crypto also alluded to the “great things” that are happening on the RSI. 

The strength of the broader crypto market is another indicator that the crypto analyst referenced. Bitcoin, in particular, is said to be showing good strength as the retracements in the market are lessening. Indeed, Bitcoin’s volatility is at a record low as the flagship cryptocurrency is on course to complete its first year without a 30% pullback. 

ADA price runs through December in the green | Source: ADAUSD on Tradingview.com

Cardano Closing This Year On A High

ADA is on course to record its most profitable December since 2017 when it rose by 517%. According to data from Cryptorank, ADA’s price has risen by 62% this month. This marks a turn of events for the crypto token, considering that it declined by 23% and almost 16% in December 2022 and 2021, respectively. 

Cardano ADASource: CryptoRank

The profit recorded this month also marks a befitting way to close the last quarter of the year, a period in which ADA has experienced some sort of resurgence. In October and November, ADA rose by 15% and 28%, respectively. During this period, the Cardano ecosystem has also become more bullish than ever.

The network saw a surge in its activity, with the blocks being produced reaching maximum capacity. Meanwhile, the Cardano DeFi landscape has also continued to flourish. Total Value Locked (TVL) on the network recently recorded a new all-time high (ATH) of $444 million. 

ADA’s much improved DeFi capabilities also happen to be one of the reasons analysts believe that the crypto token will be one of the biggest gainers in the next bull run. Crypto expert Jason Appleton believes ADA could rise to as high as $32 then. 

Featured image from CoinMarketCap, chart from Tradingview.com




Source link

The post Crypto Analyst Predicts Major Moves For Cardano As ADA Closes December In Profit appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

$3 Million Stolen In ‘Kraken’ Crypto Con

The surge in online scams has drawn heightened regulatory attention towards the crypto industry. A recent case serves as a vivid reminder of the risks involved, where a Connecticut resident became a victim of a significant scam, losing more than $3 million to individuals falsely purporting to be associated with Kraken, a well-known cryptocurrency exchange. The victim, who remains unnamed, was based in Westport and followed advice to transfer funds out of a retirement account, intending to reinvest the money in an account supposedly linked to Kraken. However, their decision led to more than $3 million swiftly disappearing into crypto wallets they could not access. Recovery Of Stolen Crypto Funds Fortunately, the victim sought help from law enforcement, and local detectives, collaborating with the state’s Organized Crime Task Force, launched an investigation. This diligent effort enabled them to trace the transactions and freeze accounts involved in the scam. While they managed to r...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite