Cardano is finally showing signs of strength, with whale buys boosting its short-term price. Analysts now predict that ADA could soon reach a new all-time high – so, is ADA the best crypto to buy right now?
In this article, we’ll dive into the latest Cardano price trends and explore whether hotter opportunities soon to launch in the crypto market could offer even higher returns.
The switch to momentum for the ADA price has caught many traders off-guard.
The announcement that Cardano Founder and CEO Charles Hoskinson could be set to take a place in the Trump Government’s crypto policy team triggered major growth for price action.
And ADA price was further boosted by news of the digital assets’ relisting on the popular exchange Robinhood, just ahead of an expected alt season.
Keen retail traders on Crypto X are also noting the poised ADA price chart, which sits in consolidation, seemingly awaiting an explosive upside move that is likely to create a new Cardano ATH.
But how realistic a prospect is this? Let’s check it out.
ADA Price Analysis: Is Cardano Crypto Heading For a New All-Time High
After pushing up an impressive +56% over the past week, Cardano is stabilizing at a current market price of $0.56 (a 24-hour change of -2.4%).
This follows a bullish streak that propelled ADA’s price upward for seven consecutive days before it encountered resistance at $0.70, leading to a consolidation phase over the past 72 hours.
However, with strong support from ADA holders, consolidation above $0.50 is positioning ADA for a potential breakout, as technical indicators show strengthening across moving averages.
Indeed, after a period of bearish divergence from the 20DMA, this key moving average is now ascendant and formed a much-needed golden cross with an equally ascendant 200DMA around $0.39 on Tuesday.
Consolidation is likely to continue until the ascendant 20DMA bolsters price and triggers a bounce above $0.50.
To the upside, ADA price continues to target a break above $0.70, with a further resistance zone between $0.75 and $0.80 (a possible +40%). forming the next stop on Cardano’s journey back above $1.
On the downside, the ADA price risks falling to the current moving average support at $0.40 (around -30 %).
This leaves ADA price with a risk: reward ratio of 1.4, a positive but mediocre entry on the short-time frame, and although certainly nothing to be scoffed at, it’s for this reason smart money investors are shifting their attention to low-cap gems seeking higher returns.
PEPU Will Outperform ADA 10X: Almost $30M Raised For New Layer-2
2024 has seen the rise of Layer-2 blockchains, and competition has intensified as big players for Shiba Inu’s Shibarium to OXK’s X-Layer battle to capture volumes and emerge as a dominant L2 option.
Hot on the heels of Uniswap’s Unichain, Pepe Unchained seems set to be the latest Layer-2 to explode, with an upcoming IDO in less than 28 days time.
This follows a high-octane presale, which has raised $29.49M over the past few months amid viral influence in the retail market and strategic positioning by big crypto whales.
But the rewards don’t end there; currently, presale buyers have staked over 180 million $PEPU tokens, enjoying a market-leading staking APY of 84%.
But the Pepe Unchained ecosystem is just getting started. The project has just unveiled Pepe’s Pump Pad, a meme coin launchpad similar to Pump.fun, designed to make Ethereum the epicenter of the meme coin world.
And just like Pump.fun, Pepe’s Pump Pad makes it easy for anyone to create their own meme coin – no coding knowledge required. Users can instantly launch their meme coins with a simple two-click process on their website.
So don’t miss out on this incredible opportunity; the next time you hear about Pepe Unchained, you will probably trade on it (and regret ignoring this news!).
To stay current – engage with the Pepe Unchained community on X and Telegram.
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