Cardano’s Price Performance In The Current Bull Run – Is ADA Lagging Behind?
02 Marzo 2024 - 1:30AM
NEWSBTC
As Bitcoin (BTC) is currently in a bull run, eclipsing the $60,000
mark once again, the spotlight has turned to ADA performance in
comparison. With a history that mirrors Ethereum’s (ETH) early
days, ADA’s journey through the market’s ups and downs has prompted
a closer examination of its potential trajectory. The
eighth-largest cryptocurrency by market cap, ADA has seen its fair
share of highs and lows, with a recent uptick in price sparking
both interest and speculation about its future. Particularly,
Cardano’s current trading level, lingering below the highs of the
March-April 2021 bull run, has raised eyebrows, especially when
juxtaposed with Bitcoin’s bullish momentum. Related Reading:
Bullish Forecast: Analyst Predicts Surge To $88,000 As Bitcoin Hits
Highest Level In Two Years During the last peak period when BTC hit
$60,000, ADA traded above $1. Yet, as Bitcoin revisits its former
glory, ADA’s valuation stands around $0.6, presenting a curious
case for analysis. Dan Gambardello, a crypto analyst have drawn
parallels between ADA’s price action and Ethereum’s historical
performance, suggesting that ADA may be on the cusp of a
“significant breakout”, akin to ETH’s journey post-2017. CARDANO
Bull Indicator Almost ACTIVATED! (Truth Behind ADA Price!) Intro
00:00 Cardano price concern 00:50 Is Cardano price lagging this
cycle? 1:30 Ethereum offers helpful context 2:30 Cardano is within
a normal move 8:00 Cardano bull indicator almost triggered! 9:25
pic.twitter.com/8tRlwEj8AO — Dan Gambardello (@cryptorecruitr)
March 1, 2024 ADA Historical Echoes With Ethereum Dan Gambardello’s
comparison of ADA to Ethereum’s past trajectory sheds light on the
developmental parallels and market behavior between the two
cryptocurrencies. Gambardello points out that ADA’s entry into the
market towards the tail end of the 2017 bull run placed it in a
different starting position than ETH. Despite this, both currencies
achieved notable highs during that period. The subsequent bear
market phases for both ADA and ETH were marked by substantial
corrections and periods of foundational development, crucial for
their long-term viability, according to Gambardello. The analyst
added that the emergence of Decentralized Finance (DeFi) projects
on both platforms, with Uniswap for ETH and SundaeSwap for ADA,
underscores the parallel paths of “innovation and growth.” This
historical perspective suggests that ADA’s current position and 78%
dip from its peak might not be as dire as it appears. Instead, it
could indicate a maturing phase that precedes significant growth,
much like Ethereum experienced after its initial setbacks. Related
Reading: ADA Price Breakout: Analyst Predicts New All-Time High As
Cardano Surges by 30% The comparison offers a hopeful outlook for
ADA, positioning it as a digital asset with the potential to
recover and surpass its previous highs as it follows in Ethereum’s
footsteps. Cardano’s Potential Unfolding Crypto analysts Trend
Rider and Ali’s recent analysis has also amplified the optimism
surrounding Cardano’s future. Trend Rider’s alert on a potential
new all-time high for ADA, backed by a significant increase in the
Trend Strength Indicator, echoes the sentiment of a pending rally
reminiscent of ADA’s climb to $3.6. 🚨 $ADA Bull Run loading. Both
our Moving Average Ribbon and our Money flow oscillator are bullish
again after 200 Weeks! These are undenieable macro facts. Enjoy the
ride, I will monitor the chart each week in case there are warning
signals PS: Free trading course… pic.twitter.com/sC3fhRZGl0 — Trend
Rider (@TrendRidersTR) February 29, 2024 Furthermore, Ali’s
projection of ADA hitting $8 in the upcoming bull run, based on a
breakout pattern in the weekly price charts, adds to the growing
consensus of Cardano’s untapped potential. The #Cardano breakout
may come earlier than expected! Still, if history repeats itself,
we are anticipating $ADA to rise to $0.80, retrace to $0.60, and
then enter a bull run toward $8 by January 2025!
pic.twitter.com/HuVAxFEg9Y — Ali (@ali_charts) February 15, 2024
Featured image from Unpslah, Chart from TradingView
Grafico Azioni Uniswap (COIN:UNIUSD)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Uniswap (COIN:UNIUSD)
Storico
Da Apr 2023 a Apr 2024