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

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