Saturday, October 12, 2024
12.6 C
London

Cardano: Will ADA Rise Or Fall By The End Of Sept’ 2024?

Cardano is one of the most impacted crypto coins in the realm, yet it has yet to portray its full potential. The token has long been trading under bearish lines and cannot exceed the $0.40 price. With Bitcoin finally touching the $60K mark, the market is filled with renewed hope, wondering whether ADA can finally breach past its critical price junctures.

Also Read: BRICS Pay 2024 Debut Promises Increased Trade, US Dollar Shift

What’s Happening to Cardano?

Cardano is currently trading at a $0.33 price level. The token recently underwent a significant fork upgrade, welcoming governance functionalities onto its chain. Cardano’s newest hard fork embraced governance-centric elements, including manoeuvring components like on-chain governance, treasury, and voting mechanisms.

Despite ADA being a robust crypto coin with all crucial elements of success, the token cannot carve a new price path for itself.

ADA is unable to surpass its critical price resistance level of $0.34, after which the token will need to cross another two major resistance levels of $0.35 and $0.36.

“Based on today’s classical pivot point (P1) with the value of $0.344043, Cardano has support levels of $0.331971, $0.325065, and the strongest at $0.312993. Similarly, Cardano resistance levels are at $0.350949, $0.363021, and $0.369928.”

Also Read: Fed Rate Cuts Will Not be as Deep as Market Expects: BlackRock

When Will The Token Cross $0.34 and Spike Higher?

ADA is all set to breach the $0.34 mark by spring end. According to CoinCodex, the token may cross its existing price level by September 30, climbing as high as 7% to claim the $0.39 price level.

The forecast for ADA in 2024 is mellow yet significant. ADA can breach the $0.80 price level by March 2025.

Image: CoinCodex

“Cardano is forecast to trade within a range of $ 0.308013 and $ 0.871208. If it reaches the upper price target, ADA could increase by 160.59% and reach $ 0.871208.”

CC further predicts how ADA may ultimately breach the $1 price mark by May 2025.

Image: CoinCodex

Also Read: Cryptocurrency: Top 3 Coins That May Deliver 10x Profits By 2024 End

Hot this week

North American Countries Start Applying For BRICS Membership

The BRICS alliance received applications for membership from countries...

Could These Top 3 Ethereum Rivals Challenge for the #2 Crypto Spot?

The crypto market is witnessing the rise of new...

Add Blast to MetaMask

Your guide: Add Blast to MetaMask Emerging as a potential...

Ripple: Former Executive Explains Why XRP is Superior to Bitcoin

Despite the dominance of the leading cryptocurrency, one former...

Best Crypto Presale Before 2024 Ends: Is Artemis (ARTMS) Leading the Way?

Crypto presale sector has been active recently and the...

Topics

North American Countries Start Applying For BRICS Membership

The BRICS alliance received applications for membership from countries...

Could These Top 3 Ethereum Rivals Challenge for the #2 Crypto Spot?

The crypto market is witnessing the rise of new...

Add Blast to MetaMask

Your guide: Add Blast to MetaMask Emerging as a potential...

Ripple: Former Executive Explains Why XRP is Superior to Bitcoin

Despite the dominance of the leading cryptocurrency, one former...

Best Crypto Presale Before 2024 Ends: Is Artemis (ARTMS) Leading the Way?

Crypto presale sector has been active recently and the...

Top Altcoins for Crypto Bull Run: Massive Gains Expected by March 2025

The world of cryptocurrencies is known for its rapid...

Shiba Inu: SHIB’s Price If Its Market Cap Hits $100 Billion

Shiba Inu (SHIB) has had ample success in its...
spot_img

Related Articles

Popular Categories

spot_imgspot_img