Cardano (ADA), over the last seven days, managed to grow by 16% as it rallied together with majority of its fellow altcoins during this week\u2019s bullish run.<\/p>\n
At press time, according to tracking from Coingecko<\/a>, the digital asset is trading at $0.405. It increased its value by 6.4% for the past two weeks and has trimmed its 30-day losses to 9.2%.<\/p>\n Moreover, the digital currency managed to pump its overall valuation<\/a> by over $1 billion as it now sits on a total market cap of $14.185 billion, ranking as 8th largest cryptocurrency in that department. <\/p>\n Last October 25, Cardano\u2019s market capitalization was only at $12.35 billion.<\/p>\n Indeed, ADA is benefiting from this positive rally. As to until when this trend will continue, it\u2019s still anyone\u2019s guess.<\/p>\n Bearish signal indicators narrowly outnumbered bullish ones, 17 to 16. Still, with this development, sentiment towards the asset is favoring the bears.<\/p>\n A deep dive at Cardano oscillators reveals a neutral score of 8. One was pointing towards the \u201cbuy\u201d direction while two were headed to \u201csell\u201d zone.<\/p>\n However, by law of moving averages (AM), the crypto managed to stay on the \u201cbuy\u201d range, hinting that this might be a good time to start accumulating the altcoin.<\/p>\n After all, there are a number of positive developments that might favor those who are in possession of the digital currency.<\/p>\n For starters, the Cardano network recently implemented wallet upgrades<\/a> on its system and the number of smart contracts running on its blockchain significantly increased over the last few days.<\/p>\n With this, the ADA community is confident that it might trade at $0.51 by the end of next month.<\/p>\n Investors and traders, however, are cautioned as the cryptocurrency remains susceptible to high levels of volatility that the crypto space is known for.<\/p>\n In fact, while the Cardano community is confident of a higher trading price next month, predictions from Coincodex<\/a> say otherwise.<\/p>\n Over the next five days, the crypto is seen to decline by almost 7% to trade at $0.382. With this, it might immediately obliterate its gains over the last couple of days.<\/p>\n The online crypto tracker and data provider\u2019s 30-day forecast is more worrying, as ADA might end up plummeting all the way to $0.214.<\/p>\n\n ADA total market cap at $1.3 billion on the daily chart | Featured image from Coinpedia, Chart: TradingView.com<\/a><\/p>\n Disclaimer: The analysis is based on the author’s personal knowledge and should not be construed as investment advice.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Cardano (ADA), over the last seven days, managed to grow by 16% as it rallied together with majority of its fellow altcoins during this week\u2019s bullish run.<\/p>\n At press time, according to tracking from Coingecko<\/a>, the digital asset is trading at $0.405. It increased its value by 6.4% for the past two weeks and has trimmed its 30-day losses to 9.2%.<\/p>\n Moreover, the digital currency managed to pump its overall valuation<\/a> by over $1 billion as it now sits on a total market cap of $14.185 billion, ranking as 8th largest cryptocurrency in that department. <\/p>\n Last October 25, Cardano\u2019s market capitalization was only at $12.35 billion.<\/p>\n Indeed, ADA is benefiting from this positive rally. As to until when this trend will continue, it\u2019s still anyone\u2019s guess.<\/p>\n Bearish signal indicators narrowly outnumbered bullish ones, 17 to 16. Still, with this development, sentiment towards the asset is favoring the bears.<\/p>\n A deep dive at Cardano oscillators reveals a neutral score of 8. One was pointing towards the \u201cbuy\u201d direction while two were headed to \u201csell\u201d zone.<\/p>\n However, by law of moving averages (AM), the crypto managed to stay on the \u201cbuy\u201d range, hinting that this might be a good time to start accumulating the altcoin.<\/p>\n After all, there are a number of positive developments that might favor those who are in possession of the digital currency.<\/p>\n For starters, the Cardano network recently implemented wallet upgrades<\/a> on its system and the number of smart contracts running on its blockchain significantly increased over the last few days.<\/p>\n With this, the ADA community is confident that it might trade at $0.51 by the end of next month.<\/p>\n Investors and traders, however, are cautioned as the cryptocurrency remains susceptible to high levels of volatility that the crypto space is known for.<\/p>\n In fact, while the Cardano community is confident of a higher trading price next month, predictions from Coincodex<\/a> say otherwise.<\/p>\n Over the next five days, the crypto is seen to decline by almost 7% to trade at $0.382. With this, it might immediately obliterate its gains over the last couple of days.<\/p>\n The online crypto tracker and data provider\u2019s 30-day forecast is more worrying, as ADA might end up plummeting all the way to $0.214.<\/p>\nIs It Good to Buy ADA Now?<\/h2>\n
What\u2019s Ahead For Cardano<\/h2>\n
Is It Good to Buy ADA Now?<\/h2>\n
What\u2019s Ahead For Cardano<\/h2>\n