Cardano

2024

when

<p>People are watching ADA, <a href="https://www.thecoinrepublic.com/2024/07/03/cardano-ada-bounces-back-is-the-0-5000-mark-within-reach/" rel="noopener noreferrer nofollow">Cardano’s</a> own crypto more as the blockchain network reaches a big moment.</p>
<p>Cardano’s ADA price has stood strong amid talks of a possible exchange-traded fund (ETF), an upcoming network upgrade, and short-term cash flow issues. The digital currency is holding steady in a pattern that hints at a potential upward surge in the near future.</p>
<p>ADA bounced back from $0.32 on July 5 to $0.45 by July 16 jumping 40% in less than two weeks. This steady period has been key to setting up ADA’s next possible move. Crypto expert Sssebi thinks ADA might enter a bull run soon, maybe even climbing above $0.60.</p>
<p>“Bouncing between 50 daily MA and $0.45 resistance area consolidating in a pattern similar to a bullish flag,” Ssebi explained. “I think we are going to see a breakout soon that can take us to $0.60+.”</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> remains mega bullish.<br>Bouncing between 50 daily MA and $0.45 resistance area consolidating in a pattern similar to a bullish flag.<br>I think we are going to see a breakout soon that can take us to $0.60+ <a href="https://t.co/5aQAk3gSnt" rel="noopener noreferrer nofollow">pic.twitter.com/5aQAk3gSnt</a></p>— Sssebi <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f981.png" alt="🦁" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Av_Sebastian) <a href="https://twitter.com/Av_Sebastian/status/1815243295926186205?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 22, 2024</a>
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<h2 class="wp-block-heading" id="h-ada-etf-rumors-and-network-updates-drivers-for-growth"><strong>ADA ETF Rumors and Network Updates: Drivers for Growth</strong></h2>
<p>The Cardano community is excited after Tap Tools teased the chance of an ADA ETF. This idea gained more traction when Cardano co-founder <a href="https://www.thecoinrepublic.com/2024/04/08/cardano-founder-focused-on-upgrades-while-defending-bitboy/" rel="noopener noreferrer nofollow">Charles Hoskinson</a> joined in with a fun superhero GIF.</p>
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   <p lang="en" dir="ltr">Is an <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> ETF is up next ? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Vvq3fBJvmL" rel="noopener noreferrer nofollow">pic.twitter.com/Vvq3fBJvmL</a></p>— TapTools (@TapTools) <a href="https://twitter.com/TapTools/status/1815770765024968858?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2024</a>
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<p>After Hoskinson’s response, someone in the community suggested that if Hoskinson were to lead the ETF project, he should also work on creating a Cardano stablecoin with enough liquidity and set up an on/off ramp by teaming up with an exchange that supports Cardano’s native tokens. Hoskinson answered with a GIF that said “Yes.”</p>
<p>Even without an official ETF announcement, rumors have boosted investor enthusiasm and optimism about ADA.</p>
<p>The upcoming Chang hard fork set for August, adds to the positive mood. This upgrade aims to improve the network’s scalability and performance marking a big step forward.</p>
<p>The Chang upgrade has renewed excitement in the Cardano community, as seen in ADA’s recent price movement. In the past,<a href="https://www.thecoinrepublic.com/2024/06/08/cardano-unveils-a-new-upgrade-will-the-ada-price-give-a-breakout/" rel="noopener noreferrer nofollow"> Cardano</a> has often seen big gains before major upgrades.</p>
<p>Let’s look at an example. Before its last hard fork in 2021, ADA’s price jumped 130%. It went up from $1.35 to $3.10 in just a month. On-chain analytics company IntoTheBlock shared this info.</p>
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   <p lang="en" dir="ltr">Cardano is preparing for the Chang Hard Fork, set to occur by the end of July.<br><br>It's worth noting that before its previous hard fork in 2021, <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> surged 130%, from $1.35 to $3.10 in just a month. <a href="https://t.co/E8zTEgZM6k" rel="noopener noreferrer nofollow">pic.twitter.com/E8zTEgZM6k</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1809588621315289146?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 6, 2024</a>
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<h2 class="wp-block-heading" id="h-ada-price-short-term-liquidity-issues"><strong>ADA Price Short-Term Liquidity Issues </strong></h2>
<p>But now, ADA has a short-term cash problem. OKX, a big crypto exchange, said it will remove ADA trading pairs. This includes ADA-ETH and ADA-BTC. .</p>
<p>This announced delisting from OKX’s could have an impact on ADA’s liquidity, having an influence on short-term market trends and creating brief price swings.</p>
<p>Looking at the charts, we can see ADA is holding steady between the 50-day moving average and the $0.40 resistance zone. According to Ssebi, the setup looks like a bullish flag hinting at a possible rise in price.</p>
<p>Traders are keeping an eye on the $0.45 mark as the next key resistance level. It’s been tested several times showing strong selling at this point. If the price breaks above this, it might aim for $0.50, which is a key psychological barrier for traders.</p>
<p>Looking at the negative side, ADA’s main support sits at $0.40 where buyers have shown strong interest before. Should ADA drop under $0.40, keep an eye on $0.30 as the next key support, which might stop further price drops.</p>
<p>The Relative Strength Index (RSI) stands at 55 but under 70 suggesting that while ADA is getting close to overbought levels, it might still have some room to climb before hitting extreme territory.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/26/ada-price-ready-to-hit-0-60-expert-sees-a-big-jump-coming/" rel="noopener noreferrer nofollow">ADA Price Ready to Hit $0.60? Expert Sees a Big Jump Coming</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

ADA Price Ready to Hit $0.60? Expert Sees a Big Jump Coming

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Thecoinrepublic.com

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