Ethereum

Cardano

Bitcoin

Resistance

<p>Cardano’s native token, ADA, shows signs of awakening from its multi-year bear market slumber. The smart contract platform has lagged peers during the recent crypto frenzy but appears positioned for major catch-up activity in 2024.</p>
<h2 class="wp-block-heading" id="strong-racing-towards-critical-resistance-strong"><strong>Racing Towards Critical Resistance</strong></h2>
<p>Veteran analyst <a href="https://twitter.com/Av_Sebastian/status/1757759747820835030" target="_blank" rel="noopener noreferrer nofollow">Sebastian</a> flags ADA taking out the crucial $0.55 level that capped previous rally efforts over the past year. With this formidable resistance now in the rearview mirror, <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="ADA" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">ADA</a> seems poised to tackle the $0.67 zone.</p>
<p>Noting Bitcoin’s bullish momentum exhibiting strength, Sebastian believes Cardano could even exceed the year-old highs to tag $0.75 in short order. The technical setup bodes well for ADA to sustain its newfound momentum.</p>
<p>Adding sturdiness to the bullish outlook, on-chain analytics platform Messari’s latest Cardano ecosystem <a href="https://messari.io/report/state-of-cardano-q4-2023" target="_blank" rel="noopener noreferrer nofollow">report</a> reveals steady fundamental development, powering long-term viability. Staking participation hit all-time highs in 2023, signaling strong user conviction even amidst the brutal bear market.</p>
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<h2 class="wp-block-heading" id="strong-1-pre-halving-in-peril-strong"><strong>$1 Pre-Halving In Peril</strong></h2>
<p>Despite the improving technical and adoption backdrop, some pundits view hitting $1 before Bitcoin’s May 2024 halving as improbable without a violent altcoin run or colossal catalysts emerging.</p>
<p>Respected investor Dan Gambardello recently <a href="https://twitter.com/cryptorecruitr/status/1757609182755168351" target="_blank" rel="noopener noreferrer nofollow">bet</a> 1,000 ADA that Cardano won’t reach $1 by the scheduled halving event. This aligns closer to the measured pace of recovery analysts expect for ADA than another vertical impulse higher.</p>
<p>Of course, Gambardello himself stands to profit handsomely if proven correct. Hence, traders should take the wager as one perspective on realistic interim upside.&nbsp;</p>
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<h2 class="wp-block-heading" id="strong-key-milestones-achieved-strong"><strong>Key Milestones Achieved</strong></h2>
<p>While huge leaps before May seem unlikely, Cardano’s methodical march towards mass adoption continues unhindered.</p>
<p>Messari highlights achievements like launching data protection-centric sidechain specifications in Midnight, progress on core network layers Hydra and Mithril, and most importantly, – total value locked in DeFi protocols has surged from $300 million to exceed $4 billion since 2022.</p>
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<p>So despite the lag in token prices, developers continue to build real utility to fuel long-term demand. Once market conditions normalize, ADA looks well-positioned for sustainable appreciation by maintaining growth even amidst adversity these past years.</p>
<p>According to the latest data, ADA is trading at&nbsp;$0.5752 with a 6.5% surge in value over the last 24 hours.</p>
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<p>The post <a href="https://captainaltcoin.com/will-cardano-ada-break-1-before-bitcoin-halving/" rel="noopener noreferrer nofollow">Will Cardano (ADA) Break $1 Before Bitcoin Halving?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Will Cardano (ADA) Break $1 Before Bitcoin Halving?

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