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The Cardano price has surged 5% in the past week and 3% in the last 24 hours to trade at $0.4065 as of 3:15 a.m. EST on an 11% surge in trading volume to $243 million.
With the Cardano Chang hard fork on the horizon, the cryptocurrency might be preparing for a significant upswing.
Cardano Price Signals A Rebound On A Double Bottom Pattern
The Cardano price shows signs of a bullish trend reversal at the $0.3733 support level. The price has begun consolidating and forming a double-bottom pattern, which traders interpret as a bullish reversal signal. The rebound comes after a prolonged decline since hitting its March 14 high at $0.8195.
ADAUSDT Analysis (Source: Tradingview)
With the bulls in control, there’s a notable surge in buying momentum aimed at initiating a bullish rally for Cardano. Optimistic investors are leading the charge, pushing the price towards the key 200-day Simple Moving Average (SMA), which suggests a possible turnaround in the making.
Should this upward momentum persist, Cardano’s price has the potential to surpass the critical 50-day SMA, further bolstering bullish sentiment.
Furthermore, the Relative Strength Index (RSI) is showing signs of recovery from oversold conditions below the 30 mark. This recovery indicates strengthening momentum, potentially propelling the RSI towards the midline level of 50.
This development would signify increasing strength in buying pressure and a favorable outlook for Cardano’s price in the near term.
Cardano Price Prediction
Cardano aims to reclaim its previous high of $0.8195. Bulls are advocating for higher prices and finding support around the 200-day SMA. With momentum building around the $0.1218 support zone, the price could target this level soon soon. Continued momentum may also propel the price above the 50 SMA, confirming new highs.
However, if bears maintain downward pressure, the price could drop below the $0.1220 support zone, potentially prompting bulls to retreat to the next support level at $0.1048.
This Learn-To-Earn Crypto Presale Blasts Past $2.3 Million
Meanwhile, some investors are turning to Bitcoin-themed tokens in anticipation of another bull run. One such token is 99Bitcoins (99BTC), which has already raised over $2.3 million in its presale.
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Since its inception in 2013, 99Bitcoins has played a pivotal role in crypto education, attracting over 2 million registered course users and amassing a significant following of over 700,000 subscribers on its YouTube channel.
The project focuses on fostering learning through a Learn-to-Earn concept. This initiative enables users to enhance their understanding of blockchain technology by engaging in interactive courses and quizzes on the 99Bitcoins platform, where they can earn $99BTC tokens as they learn.
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Holders of $99BTC can also enjoy impressive Annual Percentage Yields (APYs) of 720% by staking their tokens.
Crypto analyst and YouTuber Jacob Bury believes that the $99BTC token could see a 10X increase in value after its launch.
99BTC tokens are currently priced at $0.00112. With a price increase coming in less than a week, prospective buyers should secure their tokens soon for the best deal.
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