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The Cardano price is down a fraction in the past 24 hours to trade for $0.4373 as of 02:50 a.m. EST on trading volume that dropped 10%.
The ADA price is flat even as Cardano founder Charles Hoskinson highlighted on X a significant milestone in the history of the Cardano ecosystem.
“It looks like June will be the month that Cardano Node will reach 9.0,” he said. “This means that Cardano is Chang fork ready and waiting for 70 percent of the SPOs to install the new node. Then, a hard fork can occur pushing Cardano into the Age of Voltaire. It’s the most significant milestone in the history of Cardano and for the industry as a whole.”
It looks like June will be the month that Cardano Node will reach 9.0. This means that Cardano is Chang fork ready and waiting for 70 percent of the SPOs to install the new node. Then, a hard fork can occur pushing Cardano into the Age of Voltaire.
It's the most significant…
— Charles Hoskinson (@IOHK_Charles) June 9, 2024
Hoskinson has been vocal on X recently, slamming media coverage by podcaster Bankless, who questioned Cardano and its underlying fundamentals.
Ok @IOHK_Charles now is as good a time as any, want to come on @BanklessHQ and tell us why cardano is alive?
Blank slate for me, I haven’t kept up with the project at all. https://t.co/FtyRt4DNXr
— RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) June 6, 2024
Cardano Price Prediction Ahead Of The Chang Fork
The Cardano price is trading with a bearish bias, stuck below the trendline of the Fibonacci retracement indicator. This roadblock has capped the upside potential of ADA since March, and could continue to do so as ADA bears continue to dominance the market.
The bearish outlook is seen with the weakness seen in the Relative Strength Index (RSI) as it continues with lower highs below the mean level of 50. The Moving Average Convergence Divergence (MACD) reinforces this bearish stance, slipping below the orange band of the signal line. This indicates that the short-term moving average is below the long-term moving average. It means recent price action has been weaker than historical averages, reflecting a bearish sentiment in the market.
Traders who follow MACD signals may see this configuration as an indication to consider selling positions or even shorting the asset. It suggests that downward momentum is stronger with the potential for further price declines.
With such an outlook in place, the Cardano price could drop to test the bottom of the market range at $41.12 before a possible pullback. In a dire case where the aforementioned level fails to hold, the ADA token price could record a lower low below this threshold.
GeckoTerminal: ADA/USD 1-day chart
On the other hand, if investors see the dip as a buying opportunity, the ensuring buying pressure could see the Cardano price recover. A stable close above the trendline, confirmed by a flip of the 78.6% Fibonacci retracement level into a support level at $0.4923 would draw sidelined bulls.
Nevertheless, for the bearish thesis to be invalidated, ADA bulls must haul the Cardano price above the $0.8199 resistance level. Such a move would constitute a climb of nearly 90% above current levels.
Meanwhile, with the ADA bulls searching for new entry points, some meme coin lovers are turning to WAI after its ICO blasted past the $5.2 million mark in funds raised.
YouTuber Jon Trading says it is the top AI crypto meme coin in 2024.
Promising Alternative To Cardano
WAI is the native cryptocurrency behind WienerAI, a hybrid token that’s leveraging its AI capabilities to try to emulate the success of canine meme coins like DOGE and SHIB.
🚀🎉 $5M Milestone Achieved! 🎉🚀
WienerDogAI is just getting started!! 🌭🤖 pic.twitter.com/x7G1kFx729
— WienerAI (@WienerDogAI) June 8, 2024
Its trading bot is a trusty companion that uses predictive technology and a user-friendly interface to help holders buy and sell crypto.
UPGRADE your trading strategy.
The WienerAI Trading Bot will be your trusted trading companion, leveraging AI to make savvy and predictive moves in a dynamic market. pic.twitter.com/uYCRAWRd2N
— WienerAI (@WienerDogAI) June 1, 2024
WAI token holders can earn passively through the platform’s staking option, which provides an annual percentage yield (APY) of 211%.
The WienerAI project is somewhat similar to an earlier coin called Scotty the AI (SCOTTY), which amassed over $10 million in funds raised.
How staking your $WAI feels.https://t.co/g0LrikQz90 pic.twitter.com/3VneRo9wTq
— WienerAI (@WienerDogAI) May 9, 2024
Each WAI token is currently selling for only $0.000717, but with a price hike coming in a little more than two days, buy soon for the best deal.
Buy WienerAI tokens on the official website here. You can use ETH, USDT, or a bank card.
Also Read:
- What Sets WienerAI Apart from Floki Inu? A Deep Dive into Meme Coin Differences
- WienerAI Brings Novel Twist to Crowded Meme Coin Sector With Hotdog-Canine-AI Hybrid
- WienerAI Price Prediction – $WAI Price Potential in 2024 and Beyond
- Are Crypto Presales Worth It? The Pros and Cons You Need to Know!
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
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