Cardano

bullish

Pepe

Cardano (ADA) is attracting attention in the cryptocurrency market after a recent overall downturn. The rally seen in ADA today is likely fueled by the positive sentiment generated from key developments and announcements presented at the 2024 Cardano Summit.
<h2 id="strong-ada-key-statistics-strong">ADA Key Statistics </h2>
<ul>
 <li>Current Price: $0.358</li>
 <li>Market Cap: $12.54 billion</li>
 <li>Trading Volume (24h): $356.16 million</li>
 <li>Circulating Supply: 36 billion ADA</li>
 <li>Total Supply: 45 billion ADA</li>
 <li>CoinMarketCap Ranking: #11</li>
</ul>
Historically, Cardano (ADA) has been recognized for its innovative strategy, driven by a dedicated team aiming to develop a distinctly scalable and flexible blockchain.
In the last 30 days, ADA has gradually declined by approximately 3.61% from its peak, and over the past week, it experienced a slight decrease of 1.37% from its highest point. Nevertheless, <a href="https://insidebitcoins.com/news/cardano-ada-price-analysis-for-today-september-25-ada-technical-analysis" rel="noopener noreferrer nofollow">ADA has notably risen about 12.32% from its lowest value during this timeframe.</a>
<h2 id="strong-adausd-market-strong">ADAUSD Market </h2>
Key Levels:
<ul>
 <li>Resistance: $0.370, $0.380, $0.400</li>
 <li>Support: $0.330, 310, $300</li>
</ul>
<figure id="attachment_594187" aria-describedby="caption-attachment-594187" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="wp-image-594187 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/11/ADAUSD_2024-11-02_13-15-47.png" alt="Cardano (ADA) Price Prediction for Today, November 2—ADA Technical Analysis" width="980" height="541" srcset="https://insidebitcoins.com/wp-content/uploads/2024/11/ADAUSD_2024-11-02_13-15-47.png 980w, https://insidebitcoins.com/wp-content/uploads/2024/11/ADAUSD_2024-11-02_13-15-47-300x166.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/11/ADAUSD_2024-11-02_13-15-47-768x424.png 768w" sizes="(max-width: 980px) 100vw, 980px">
 <figcaption id="caption-attachment-594187" class="wp-caption-text">
 ADAUSD – Daily Chart
 </figcaption>
</figure>
<a href="https://coinmarketcap.com/currencies/cardano/" rel="noopener noreferrer nofollow">On the ADAUSD daily chart, the Stop and Reverse (SAR) indicator is currently below the price</a>, indicating an uptrend. This suggests that the price is likely to continue moving higher. When the price is above the SAR dots, it indicates that the market is in a bullish trend. Also, the MACD line has crossed above the signal line, indicating a bullish crossover. This is a strong bullish signal, as it suggests that the momentum of the uptrend is increasing. Additionally, the histogram is starting to turn positive, further supporting the bullish sentiment.
The Heikin Ashi candles are currently green, indicating bullish momentum. ADA has recently broken above the $0.350 resistance level. However, it has encountered resistance at the $0.370 level. A pullback to the $0.330 or $0.310 support levels could be possible if the price fails to break above the $0.370 resistance. If ADA can break above the $0.370 resistance level, it could potentially move towards the $0.380 level with a milestone of $0.400 in sight.
<h2 id="strong-could-the-2024-cardano-summit-be-driving-ada-s-price-rally-strong">Could the 2024 Cardano Summit Be Driving ADA’s Price Rally?</h2>
ADA’s recent price rally seems to stem from the positive sentiment generated by key announcements at the 2024 Cardano Summit. A notable development was the partnership between EMURGO, which is advancing Web3 adoption on Cardano, and BitcoinOS (BOS), a smart contract platform for Bitcoin. This collaboration seeks to bring Bitcoin’s significant liquidity—valued at $1.3 trillion—into Cardano’s decentralized finance (DeFi) ecosystem, enhancing its appeal to investors.
Opportune Moment for Cardano
<iframe title="The Moon: &quot;Great Time To Buy ADA.&quot; Huawei Cloud Retweets Dedium! Angry Crypto Reacts" width="640" height="360" src="https://www.youtube.com/embed/4K-_-1LV9vI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
The Summit also showcased high-profile speakers and partnerships with major entities like Binance and Animoca Brands. Such events often ignite speculative interest, as traders anticipate news that could boost the network’s value. This mix of strategic developments and excitement likely fueled increased buying activity and contributed to ADA’s upward momentum.
<h2 id="strong-adabtc-performance-insight-strong">ADABTC Performance Insight </h2>
The price action of Cardano (ADA) against Bitcoin (BTC) paints a bearish picture. Currently, the price of ADA/BTC is below the 0.00000500 support level. This breakdown indicates a potential acceleration of the downtrend. While a bullish reversal cannot be entirely ruled out, the current technical indicators point towards a bearish outlook.
<figure id="attachment_594190" aria-describedby="caption-attachment-594190" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="wp-image-594190 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/11/ADABTC_2024-11-02_13-18-44.png" alt="Cardano (ADA) Price Prediction for Today, November 2—ADA Technical Analysis" width="980" height="541" srcset="https://insidebitcoins.com/wp-content/uploads/2024/11/ADABTC_2024-11-02_13-18-44.png 980w, https://insidebitcoins.com/wp-content/uploads/2024/11/ADABTC_2024-11-02_13-18-44-300x166.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/11/ADABTC_2024-11-02_13-18-44-768x424.png 768w" sizes="(max-width: 980px) 100vw, 980px">
 <figcaption id="caption-attachment-594190" class="wp-caption-text">
 ADABTC – Daily Chart
 </figcaption>
</figure>
However, if the price finds strong support at the 0.00000460 level and forms a bullish reversal pattern, such as a double bottom or a bullish engulfing candle, it could signal a potential uptrend.
In a notable development for the Cardano ecosystem, $SNEK has experienced an impressive inflow of 919.83k $ADA from whales in October, marking a substantial milestone for the token. This influx, which exceeds 1 million $ADA, reflects growing recognition and confidence in $SNEK’s contributions to the Cardano community.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🚨 JUST IN: <a href="https://twitter.com/search?q=%24SNEK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SNEK</a> has attracted 919.83k <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> inflow from Whales (+1m <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a>) in October.
 It's a huge milestone and recognition for what <a href="https://twitter.com/snek?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@snek</a> has done to <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> ecosystem.
 Beyond happy to have more friends and healthier distribution in <a href="https://twitter.com/search?q=%24SNEK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SNEK</a> 🐍 <a href="https://t.co/M3kRknOLUC" rel="noopener noreferrer nofollow">https://t.co/M3kRknOLUC</a> <a href="https://t.co/Vaw1sPqc8l" rel="noopener noreferrer nofollow">pic.twitter.com/Vaw1sPqc8l</a>
 — Rex Liu (@rexliu1912) <a href="https://twitter.com/rexliu1912/status/1852284022829002978?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="strong-alternatives-to-cardano-strong">Alternatives to Cardano</h2>
Cardano (ADA) has garnered attention for its innovative approach, spearheaded by a committed team dedicated to creating a uniquely scalable and adaptable blockchain. In a similar vein, the emerging meme coin initiative, Pepe Unchained ($PEPU), is set to capitalize on the increasing momentum within the blockchain industry.
Recently, <a href="https://insidebitcoins.com/visit/pepeunchained" rel="noopener noreferrer nofollow">Pepe Unchained achieved a remarkable milestone in its presale, raising over $24.2 million</a>, which reflects strong investor confidence in the project. This substantial funding not only demonstrates the excitement surrounding $PEPU but also positions it as a formidable player in the meme coin arena. The $PEPU token operates on its own Layer 2 blockchain, aimed at freeing PEPE from the constraints of the outdated Ethereum blockchain.
Pepe Unchained Sets Out to Create the Leading Layer 2 Blockchain
<iframe title="Pepe Unchained Is Building The Biggest And Perhaps Best Layer 2 Blockchain! Do Not Miss This!" width="640" height="360" src="https://www.youtube.com/embed/ED3TDelPyqY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<a href="https://youtu.be/ED3TDelPyqY?si=IJCP3WHpdvf9xp5C" rel="noopener noreferrer nofollow">This new infrastructure is designed to provide transaction speeds</a> that are up to 100 times faster than those of Ethereum, along with significantly lower gas fees. This makes it an appealing choice for both users and developers. With a focus on improved performance and cost-effectiveness, $PEPU is well-positioned for growth and adoption in the competitive cryptocurrency landscape. The outlook for $PEPU is bright.
<a href="https://insidebitcoins.com/visit/pepeunchained" rel="noopener noreferrer nofollow">Visit Pepe Unchained</a>.
<h2 id="related-news">Related News</h2>
<ul>
 <li><a href="https://insidebitcoins.com/news/top-crypto-gainers-today-nov-02-cardano-beldex-gnosis-kucoin-token" rel="noopener noreferrer nofollow">Top Crypto Gainers Today Nov 02 – Cardano, Beldex, Gnosis, KuCoin Token</a></li>
 <li><a href="https://insidebitcoins.com/news/simons-cat-price-prediction-cat-leaps-8-as-pepe-unchained-rockets-past-24-million-in-presale" rel="noopener noreferrer nofollow">Simon’s Cat Price Prediction: CAT Leaps 8% As Pepe Unchained Rockets Past $24 Million In Presale</a></li>
</ul>

Cardano (ADA) Price Prediction for Today, November 2—ADA Technical Analysis

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