Market

It’s time for ADA to wake up from a long hibernation – here is the possible scenario

Analyst Michaël van de Poppe says smart contract platform Cardano (ADA) may finally be waking up from a months-long hibernation.

In a fresh strategy session, Poppe told his 162,000 YouTube subscribers that the hype and positive sentiment surrounding Cardano was “waking up”.

“We can see the momentum or actual hype surrounding Cardano waking up. So what should you consider if you want to get started with Cardano?”

The analyst then cites several key price zones where ADA could find support before starting a new rally.

“I think it is important that we break the resistance around $1.31 for another trigger. So the first thing to look at is the long potential in this area. The second option is to flip and consolidate $1.55 and then get the trigger at $1.28. This is the second entrance area to look at.”

Source: Michael van de Poppe

Wherever Cardano finds support, Poppe predicts that the sleeping giant will see big gains.

“And after that, ADA could start targeting a rally towards $2 or possibly even towards $2.33 as that is the next target area for Cardano.”

Cardano is trading at $1.53 at press time, down nearly 5% on the day and 51% below its all-time high set in September 2021.

Recently, development company Cardano Input Output Hong Kong (IOHK) announced plans to expand the network by 2022. One of the goals that the company has outlined is the addition of sidechains, which are separate blockchains connected to the mainchain and allow the transfer of assets between them.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Post-Election Surge Drives Bitcoin to $77K, DOT Expands Interoperability, While Analysts Eye This Best New Crypto Poised to Hit $10

Bitcoin surges to $77K post-election, Polkadot boosts cross-chain links, and a new crypto, Qubetics, catches…

3 mins ago

BlockDAG’s X1 Miner App Goes Viral, Reaching Over 200K Users! SUI Transactions & Unichain Surge

Learn about BlockDAG reaching 200K users with the X1 Miner App and significant backing from…

3 hours ago

Top 5 Best Crypto Coins To Buy Now Before They Skyrocket

The crypto market is evolving at an unprecedented pace, and November 2024 is shaping up…

3 hours ago

XRP Price Prediction: Signs Emerge For Rally To $12 While Altcoin Rival Readies For 40,000% Rally In 4 Weeks

XRP price signs a breakout to $12 as the spotlight turns to altcoin rival, WallitIQ…

8 hours ago

Missed ICO of Avalanche? Here’s What You Need to Know and Why This Crypto Coin Could Be Your Next Best Investment

For those who missed the initial coin offering (ICO) of Avalanche, it’s a reminder of…

8 hours ago

Indiana Farmer Struck a Windfall with DogWifhat, Now Goes All in on BlockDAG as BULLRUN100 Bonus Goes Live

Indiana Farmer Struck a Windfall with DogWifhat, Now Goes All in on BlockDAG as BULLRUN100…

9 hours ago

This website uses cookies.