Logo
Cardano Ecosystem

Watcher Guru

09/24/2024

·

90 views


Cardano: ADA Rallies 9%: Can It Hit $0.50 This Week?

Cardano (ADA) has outperformed the top 10 crypto projects by market cap in the daily charts, rallying 2.1% in the last 24 hours. The asset is up by 9% in the weekly charts, 6.8% in the 14-day charts, and...

Cardano: ADA Rallies 9%: Can It Hit $0.50 This Week?

Cardano (ADA) has outperformed the top 10 crypto projects by market cap in the daily charts, rallying 2.1% in the last 24 hours. The asset is up by 9% in the weekly charts, 6.8% in the 14-day charts, and nearly 49% since September 2023. Despite the rally over the previous month, ADA is still down by 5.4%.

Cardano
Source: CoinGecko

Also Read: Gold Kickstarts Rally: Targets $2,700

Why Is Cardano Rallying?

Cardano
Source – Capital.com

Recently, Helix Labs raised $2 million in funding to scale ADA’s DeFi integration. According to the proposed protocol, ADA holders can stake their coins while maintaining the ability to use them in other financial applications. This positive development may have increased investor sentiment.

The Helix Labs’ funding is not the only bullish development for ADA. A Bitcoin developer named Elraulito has created a seamless bridge between Bitcoin and Cardano applications.

Both developments may have contributed to ADA’s current rally.

Will The Asset Hit $0.50 This Week?

According to CoinCodex data, Cardano (ADA) will dip to $0.33 on Sunday, Sept. 29, 2024. Reaching $0.33 from current price levels will translate to a dip of about 8.33%. The platform anticipates ADA gaining momentum in October, predicting the asset will hit $0.38 by Oct. 7, 2024.

ADA
Source: CoinCodex

Also Read: Buy Netflix Stock Call Echoes, Secure Upto 16% Profits, Analyst Says

Changelly analysts are even more bearish on Cardano (ADA). The platform predicts ADA’s price to drop to $0.32 on Sunday, Sept. 29, 2024.

Source: Changelly

When Will ADA Hit $0.50?

ADA is one of the most developmentally active crypto projects. Although the asset’s price has struggled to gain momentum over the last few years, the ADA network continues to innovate, making it a strong contender for future growth.

Also Read: Musk & Milei: Crypto Power Duo’s Bold Plans for Argentina

ADA needs to rally nearly 39% to reach $0.50 from current price levels. Changelly analysts anticipate ADA hitting $0.50 in August 2025, about a year from now.

Cardano
Source: Changelly
AD

Cardano Catalyst Project - Discover and Vote for our proposals in Fund 13 by December 12, 2024 11:00 UTC

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Cast your vote today, find our proposals by searching "CardanoFeed" in the Voting App.Vote for Us


Read Original Article on Watcher Guru

ORIGINAL SOURCE

https://watcher.guru/news/cardano-ada-ra...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from Watcher Guru

See more
Cardano to $6? Historical Data Has ADA Eyeing New High
Watcher Guru
Cardano to $6? Historical Data Has ADA Eyeing New High

last Monday at 4:26 PM

·

10 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)