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Cardano Price Prediction: Is ADA Poised to Climb 5% Higher?

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Cardano (ADA) price has seen a modest 0.40% uptick today, September 16. However, it appears to be grappling with uncertainty as it struggles to establish a clear direction.

Yesterday’s dip of 0.70% marked the end of a bullish trend that had persisted for the past three days. This resulted in an overall 4% gain during that period. Today’s subdued market movement reflects the indecision surrounding the Cardano price momentum.

Cardano price
TradingView: ADA/USD 1-day chart

In the daily chart of ADA/USD shown above, Cardano’s price appears to follow a bearish trend. However, there are indications that it may be on the verge of a 5% increase in the coming days, potentially reaching the $0.266 level. This optimism is drawn from the positive signal generated by the Awesome Oscillator (AO). The Stochastic Oscillator also signals upward momentum, reinforcing the bullish outlook.

A decisive break above the $0.266 level could further bolster the cryptocurrency’s potential to reach $0.300. This is a highly significant resistance level, considering it held Cardano’s price afloat for multiple months. Moreover, it is a psychological level that has acted as pivotal support and resistance several times.

Meanwhile, the Simple Moving Averages (SMAs) provide an alternate perspective, with the 200 SMA positioned above the 100 and 50 SMA. This configuration suggests that prices could continue to decline unless the 50-SMA (yellow line) crosses above the 100-SMA (brown line) from below.

However, should prices fail to exhibit positive momentum and encounter selling pressure, they may find initial support at $0.238. A breach and close below this level could push Cardano’s price to around $0.213. Such a move would represent a decline of approximately 14% from the current price.

It is worth mentioning that ADA’s market capitalization has experienced a slight 0.24% decline today. Nevertheless, there is an 18% increase in the 24-hour trading volume, now at $128,539,582.

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Alternative to ADA

In just over ten days, $WSM will debut on several top-tier cryptocurrency exchanges. The ongoing presale for Wall Street Memes has captured the crypto community’s attention. This indicates a potentially groundbreaking entry into the market, akin to the meteoric rise of Pepe.

They extended the presale because it reached the $25 million goal much sooner than expected, which was a testament to the project’s promise. It also says a lot about the increasing interest and speculation. This move allowed tokens to be purchased at a stable price of $0.0337 until they became accessible on public crypto exchanges.

As per the latest announcement, the presale is slated to conclude at 6 p.m. UTC on September 25, 2023. The claiming and listings will be made available on September 27, 2023.

But how did this meme coin, which may seem like a joke, become so popular? Even though many meme coins are not very useful, they have always managed to grab people’s interest. This has been indicated many times over with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe coin(PEPE). With its unique meme coin idea and strong community backing, Wall Street Memes is set up for a similarly rapid rise.

The Allure of Wall Street Memes

WSM’s unique community has been around since 2019 on Twitter and has grown to over a million members. Unlike some quick successes, this community has worked overtime to earn respect from investors, traders, and industry leaders. This has ensured its long-lasting part of the crypto world.

The memes from Wall Street Memes use humor and satire to point out problems with capitalism, regulations, and government policies. People in the crypto community, including investors and traders, like these memes. This is one of the drivers behind the highly successful presale.

Again, the presale is performing better than expected. Experts and analysts in the industry believe that when WSM officially launches, there will be a series of favorable market movements. From the presale, the strong desire not to miss out, known as Fear Of Missing Out (FOMO), is expected to push this surge. Do not miss out on this FOMO rally. Buy WSM now.

Furthermore, Wall Street Memes has set up special programs that give away thirty percent of its tokens to excite the community. This helps ensure that WSM stays in the market for a long time and does not just become a quick trend. Wall Street Memes wants to be successful in the long run, and these community rewards are a big part of making that happen.

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