Cryptocurrency

Cardano

2024

Coin

<ul class="news-points"> 
 <li>ADA breaks out of long-term trendline, indicating bullish reversal.</li> 
 <li>RSI and Bollinger Bands suggest increasing bullish momentum.</li> 
 <li>Key network upgrades and partnerships could drive ADA’s price to $3-$5 by 2025.</li> 
</ul> 
Cardano (ADA), a leading smart contract platform, is showing signs of breaking free from a prolonged bearish trend. As market observers analyze its potential, several technical indicators suggest that ADA might be on the <a href="https://coinedition.com/will-cardano-ada-hit-3-again-chang-hard-fork-fuels-optimism/">brink of a significant upward trajectory</a>, potentially reaching new heights by 2025. 
A comparative analysis of ADA’s performance against Bitcoin (BTC) reveals that the digital asset has broken out of a long-term downward trendline. This breakout is a key indicator of a potential reversal of the previous downtrend. Additionally, the 1-day chart shows that ADA’s RSI suggests potential bullish momentum is underway. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeR0vbSLyCNAEvVBJNCEboVcmvSLtL9G7H_BBFtHWysaHJjO_G-y76MQRkxv7PDSzDDFLR-gae-NH6s3fBlL6FNVYoqyM77Vpyy6OOTj9HH4nbTyqYTI-EWSxLzcaIx8xkGBrEorjZAZQ_4yp21H3uqPesZ?key=C4bSqY0bnbJ4eqA3nPEIdA" alt="">
</figure> 
Source: Jesse Olson 
Coin Edition’s analysis of the Relative Strength Index (RSI), a momentum oscillator, shows it currently at 52.16, a neutral zone. However, its upward trajectory suggests increasing buying pressure. If the RSI continues to rise, it will likely move into overbought territory, signaling a stronger up…
The post <a href="https://coinedition.com/why-cardano-ada-is-a-top-cryptocurrency-to-watch-in-2024/">Why Cardano (ADA) is a Top Cryptocurrency to Watch in 2024</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Why Cardano (ADA) is a Top Cryptocurrency to Watch in 2024

Coin Edition

Other articles published on Jul 12, 2024

Qubetics Whitelist Emerges As Lifeboat For Troubled Ethereum And Filecoin Investors

BAXUS Transforms Whiskey Financing with Tokenized Loans

Binance Simple Earn vs. Competitors: Which Offers the Best Returns for FET?

Polkadot’s JAM Chain: An Overview Of The New Blockchain Scalability Solution

Bitcoin Miner Northern Data Predicts Robust Revenue Growth Amid AI Boom

Chainlink’s LINK Maintains Macro Uptrend as SUI’s Price Faces Critical $0.97 Level: Expert Analysis

Join our free newsletter for daily crypto updates!