Will Cardano (ADA) Double Soon? Latest Market Trends Suggest a Big Move!

Table of Contents

Today, the total capitalization of the crypto market cap surged 5% to an impressive $2.3 trillion. This leap forward propelled Bitcoin beyond the $62,000 threshold for the first time in over two years and Ethereum soaring past $3,400. The growth catalysts were multifaceted, ranging from Bitcoin's momentum and regulatory advancements to the buzz around the Bitcoin halving and the anticipated Ethereum ETF approval. The market's sentiment, tinged with 'extreme greed' was another key driver.

In this mix, Cardano (ADA) was not left behind, registering a notable 9% increase to nearly $0.7, coupled with a staggering 161% rise in its 24-hour trading volume. Dan Gambardello of Crypto Capital Venture hinted at an even brighter future for ADA. He predicted a surge beyond the $1 mark, citing that investors started reallocating investments from stagnant tokens to those with more dynamic prospects.

While Cardano (ADA) is on a strong uptrend, a newcomer, ScapesMania (MANIA), is generating its own buzz. Having concluded its presale stage, the project is now at the cusp of a pivotal moment with its upcoming Token Generation Event and the much-anticipated DEX listing.

The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token's value might increase exponentially in the future.

The spotlight has shifted to the upcoming PancakeSwap listing. The date was already announced in a recent AMA with the CEO, so don’t miss out! 

The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away.

Your Last Chance to Boost Potential Returns Post Listing

The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry.

Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market's growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential. 

The community's excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania's transition from niche to mainstream.

ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works.

ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth.

Make sure you don't pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative.

>>> LISTING ALERT – Keep Up With Latest News <<<

On the microblogging platform X, Dan Gambardello confidently stated that "Cardano won’t be below $1 much longer", highlighting ADA's potential for significant growth. He further elaborated that investors often moved away from stagnant cryptocurrencies to those showing more promise only to witness the sold tokens' surge. This phenomenon, as per Gambardello, leads to scenarios where a newly purchased token dips by 20%, while the one sold might unexpectedly rally by 50%.

Cardano's (ADA) journey in the current market cycle has been somewhat subdued, particularly when juxtaposed against its larger counterparts, Bitcoin and Ethereum. While they saw impressive year-to-date rises of 48% and 53%, respectively, ADA's 18% growth was more modest. Despite this, the recent week was promising for Cardano (ADA) that experienced a 17% uptick to trade around $0.7 apiece. Gambardello's prediction, if realized, would propel ADA's value by over 43%, a significant leap from its current standing.

The underlying strength of Cardano (ADA) is its evolving DeFi ecosystem. Cardano's (ADA) total value locked (TVL) in decentralized applications is on a steady rise, signaling growing investor confidence and utility in light of the introduction of Hydra, a series of scaling protocols that promise to enhance network efficiency, scalability and transaction throughput through off-chain transactions. Alongside Hydra, projects like SanchoNet and Mithril further signify Cardano's (ADA) commitment to innovation, painting a picture of a blockchain platform that is not just keeping pace with industry demands but is poised to set new benchmarks in the DeFi landscape.

Currently, ADA is trading between the support level at $0.418 and the resistance level at $0.719. 

Source: TradingView

The Exponential Moving Averages (EMA) paint a positive picture, with the 10-day EMA at $0.622, the 50-day EMA at $0.564 and the 200-day EMA at $0.459 suggesting an overall bullish trend. 

This is further supported by the Relative Strength Index (RSI), currently at 74, indicating that Cardano (ADA) might be approaching overbought territory, but also reflecting strong buying interest.

​The Stochastic %K at 78.7 aligns with the RSI, pointing to overbought conditions, while the Commodity Channel Index (CCI) at 214.3 also signals that ADA might be in an overextended territory. 

However, the Average Directional Index (ADX) at 18.2 suggests a lack of strong trend strength, which could mean that the current upward trajectory might not be sustained for long.

Cardano (ADA) Price Prediction

If ADA maintains its momentum and breaks past $0.719, it could target the next resistance level at $0.91, aligning with Gambardello's optimistic prediction.

On the flip side, in a bearish scenario, if Cardano (ADA) fails to sustain its current levels and falls below $0.418, it could find its next level of substantial support at $0.337, and potentially even test $0.146 in a more extended market correction.

Cardano (ADA) is currently exhibiting a promising uptrend that could extend beyond it's current value of almost $0.7. The optimistic outlook is fueled by the growth of Cardano's (ADA) DeFi ecosystem after the introduction of innovative protocols like Hydra and infrastructure projects such as SanchoNet and Mithril. Despite facing subdued growth compared to Bitcoin and Ethereum, ADA's recent 17% increase and the potential for a 43% surge as predicted by Dan Gambardello highlight its resilience and potential for significant growth in the rapidly evolving cryptocurrency landscape.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Investment Disclaimer