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Cardano Price Prediction As ADA Jumps 4% And A Crypto Analyst Says This 2.0 Meme Coin Might 1000X

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cardano price
cardano price

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The Cardano price has soared 4% in the past 24 hours to trade for $0.4533 as of 05:28 a.m. EST.

CoinGecko data shows that the surge has seen the Cardano price break above resistance due to the descending trendline.

However, seeing as ADA price action continues to chop horizontally, coupled by the position of the Relative Strength Index (RSI) below the mean level of 50, Cardano is not yet primed for a rally.

The RSI is also knit closely to the yellow band of the signal line, suggesting the bulls and bears are both putting in the work. This coupled with the position of the Awesome Oscillator in negative territory, tilts the odds further in favor of the downside.

Moreover, the volume profiles are dwindling, showing that the little bullish sentiment in the ADA market is not enough to facilitate a climb.

Traders looking to take long positions on the Cardano price must wait for the price to venture into the Golden Zone between the 61.8% Fibonacci retracement at $0.5525 and the 38.2% Fibonacci retracement level at $0.6478.

A decisive candlestick close above the 50% Fibonacci placeholder at $0.6001 would confirm the continuation of the uptrend.

In the meantime, however, the odds favor the downside and the Cardano price could drop back to the bottom of the market range at $0.4000.

Cardano price

TradingView: ADA/USDT 10-day chart

Analysts’ Forecast For The Cardano Price

Nevertheless, one analyst, @Cryptosahintas on X, observes that the bottom is almost in for the Cardano price, which could precipitate a recovery. The forecast is based on the analysis that the weekly RSI values ​​are almost the same as what has been seen in the past before a recovery.

ADA has also featured among the top tokens of the day, as traders and analysts start to monitor large market capitalization-sized projects in readiness for the altcoin season.

Analyst @UnknownWhales22 has observed a falling wedge pattern on the one-day timeframe, suggesting a possible big move to the upside.

Meanwhile, analysts are monitoring the ADA/USDT trading pair for a potential bullish rally toward $0.5000 after a successful breakout.

While they do so, analyst Franklin Emmanuel, with 268k YouTube subscribers, says that SPONGE V2, a 2.0 meme coin, might 1000X after launch.

Promising Alternative To Cardano

Sponge V2 is a stake-to-bridge token, taking the stage after its predecessor, Sponge V1, recorded massive success in 2023.

After recording 100X growth in 2023 in a bear market, Sponge V1’s upgrade, Sponge V2 is giving investors who missed the 2023 rally a second chance.

Early in February, the network migrated to the Polygon chain following a malicious attack. On the Polygon network, users can enjoy more secure, efficient (faster), and cheaper transaction experiences. The project is also running on the Ethereum blockchain.

Sponge V2 can be staked on Ethereum for an Annual Percentage Yield (APY) of 163% and on Polygon for a huge 338% APY.

Sponge staking

Sponge V2 Play-To-Earn Game

Sponge V2 also has a Play-to-Earn (P2E) function. To increase community engagement, Sponge V2 will introduce a new P2E racer game where players can compete against each other for a chance to win $SPONGEV2 tokens as rewards.

Tron (TRX) founder and Huobi Global advisor Justin Sun bought Sponge tokens last year and continues to hold them, while some analysts rank successor SpongeV2 among the the best meme coins to invest in.

Sponge V2 is now offering a last chance to buy. If you are interested, buy and stake it today before it launches on major exchanges.

Visit and buy Sponge V2 here

Also Read:

Smog (SMOG) - Meme Coin With Rewards


Smog token
  • Airdrop Season One Live Now
  • Earn XP To Qualify For A Share Of $1 Million
  • Featured On Cointelegraph
  • Staking Rewards - 42% APY
  • 10% OTC Discount -
Smog token

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