Cardano

altFINS

Millions

Polygon

Echoes

<p>Cardano’s ADA token has seen its price surge over 9% today, crossing the $0.52 level. This price movement has generated excitement among investors, with many wondering what is causing this latest crypto rally.</p>
<p>According to <a href="https://twitter.com/Av_Sebastian/status/1755459793387389245?t=fZcN_uR9ozjdxlw8uDYBNg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">crypto trader @Av_Sebastian,</a> ADA has struggled in recent weeks to move above its 200-day moving average on the 4-hour chart. However, it has now finally broken above this key resistance level.</p>
<p>As @Av_Sebastian stated in a tweet:</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="970" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-970x1024.png" alt="" class="wp-image-434672" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-970x1024.png 970w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-284x300.png 284w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-767x810.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-1455x1536.png 1455w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-1940x2048.png 1940w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-142x150.png 142w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-100x106.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-332x350.png 332w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272-788x831.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-272.png 736w" sizes="(max-width: 970px) 100vw, 970px">
</figure>
<p>“In a previous tweet I was telling you how $ADA is having difficulties going above the 200 Moving Average on the 4hr chart. For the first time in weeks it has broken it, let’s see if the next candle manages to close above and get the bounce. If yes $0.55 incoming.”</p>
<p>This technical breakout is being interpreted as a bullish sign that could drive prices to $0.55 or higher, if it manages to close above the 200 MA.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="altfins-echoes-bullish-sentiment">Altfins Echoes Bullish Sentiment</h2>
<p>Crypto analytics firm Altfins has echoed a similarly bullish take on Cardano’s recent price action. While acknowledging some potential short-term bearish struggles, they view the medium and long-term outlook as neutral and bullish respectively.</p>
<p>Altfins also sees a potential upside to the $0.6 level, followed by a move to $0.65. They have outlined key support levels between $0.40 and $0.46 in case a bearish move eventuates.</p>
<p><strong>Breakout from Channel Presents Upside Opportunity</strong></p>
<p>In their latest trade setup analysis, Altfins highlighted a bullish breakout from a channel-down pattern that could trigger further upside:</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-1024x573.png" alt="" class="wp-image-434680" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-768x430.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-2048x1147.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273-788x441.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-273.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<p>“Trade setup: Bullish breakout from a Channel Down pattern could be followed by an upswing in price with +20% upside potential to $0.60. Stop Loss at $0.44, just below the prior swing low. (set a price alert).”</p>
<p>They view the breakout as presenting an appealing risk/reward opportunity, with a stop loss below recent swing lows and upside potential of 20% or more.</p>
<p>With positive technical and fundamental signals aligning behind the <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="Cardano" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> price breakout, traders appear confident of further gains ahead if key levels can hold. The coming days will determine if this latest crypto rally has true staying power.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/crypto-influencer-shares-insights-on-say-tia-and-profit-taking-lessons-learned-from-sol/" target="_blank" rel="noopener noreferrer nofollow">Crypto Influencer Shares Insights on SAY, TIA and Profit-Taking Lessons Learned from SOL</a></li>
 <li><a href="https://captainaltcoin.com/sui-pulls-back-after-bullish-rally-analyst-shares-next-support-to-watch/" target="_blank" rel="noopener noreferrer nofollow">SUI Pulls Back After Bullish Rally, Analyst Shares Next Support To Watch</a></li>
 <li><a href="https://captainaltcoin.com/one-not-to-miss-pushd-pushd-presale-still-available-ripple-xrp-polygon-matic-holders-keep-pumping-in/" target="_blank" rel="noopener noreferrer nofollow">One not to miss – Pushd (PUSHD) presale still available – Ripple (XRP) &amp; Polygon (MATIC) holders keep pumping in!</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-cardano-ada-price-up-3/" rel="noopener noreferrer nofollow">Why Is Cardano (ADA) Price Up?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Cardano (ADA) Price Up?

Table of Contents

CaptainAltcoin

Other articles published on Feb 8, 2024

OpenAI Software To Automate Complex Tasks; Here’s Sam Altman’s Next Plan

The start of crypto lending solved – Kelexo (KLXO) attracts big investment from Litecoin (LTC) & ...

AI sets Bitcoin price for Valentine’s Day 2024

Solana Foundation Teams Up with Abu Dhabi Free Zone for Web3 Push

This WordPress crypto widget plugin can leak sensitive information

Stage 4 already!? Find out why Cardano (ADA) & Tether (USDT) holders are snapping up Pushd (PUSHD...

Join our free newsletter for daily crypto updates!