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Cardano Ecosystem

Blockchain Reporter

06/17/2024

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Cardano Price Prediction: Will Cardano Reach $10 In The Next Bull Run?

TLDR Cardano is facing selling pressure and a potential bearish outlook. Despite upcoming network upgrades, its price is struggling to recover.Rebel Satoshi Arcade emerges as a haven for investors, offering a...

Cardano Price Prediction: Will Cardano Reach $10 In The Next Bull Run?

TLDR 

  • Cardano is facing selling pressure and a potential bearish outlook. Despite upcoming network upgrades, its price is struggling to recover.
  • Rebel Satoshi Arcade emerges as a haven for investors, offering a staking platform with high rewards.
  • Rebel Satoshi Arcade will burn unsold tokens after the presale, driving its commitment to decentralization.

As selling pressure increases in the cryptocurrency market, Bitcoin struggles to surpass $70,000 and tests the $66,200 support level. With expectations dropping, major cryptocurrencies like Cardano (ADA) face huge inflows of sell orders. After the price increase in February, Cardano’s price has now dropped to a low of $0.433 after a 32% decrease in April, forming an evening star pattern on the charts. Despite Cardano’s recent poor performance, some investors on the sidelines expect the cryptocurrency to rise above $1.00 this year, while others suggest ADA’s price will increase soon. But can Cardano reach $10.00 in the next bull run?

Leading this bearish outlook is the Mean Coin Age (MCA) indicator. As the name suggests, MCA measures the average age of all tokens on a blockchain from when they were last moved or purchased. For ADA, data from Santiment shows that the 90-day MCA has been increasing since June 1. This increase indicates a rise in selling pressure, one reason Cardano’s price has weakened. If the MCA reading continues to grow, Cardano’s price may have no choice but to decrease further.

The weekly chart of Cardano’s price movement shows a period of leveling off within a range around the $0.46 baseline over the past few weeks. However, following the big price recovery in early 2024, the 50-week and 200-week moving averages are getting close to crossing over each other, hinting at a potential bullish “golden cross” pattern. Also, rejecting lower prices near the $0.46 support level increases the chances of an upward move in June. Also, the overall cryptocurrency market recovery could increase the upward momentum for ADA’s price, setting up a bull run.

Another factor that may impact ADA’s price is the upcoming Voltaire upgrade. Cardano’s founder, Charles Hoskinson, recently confirmed that this upgrade may happen in the third quarter of the year, while the Chang hard fork is also ready. Based on the Alonzo hard fork’s impact on ADA’s price in 2021, the Voltaire upgrade could spark a bull run. It remains to be seen if ADA will follow the same pattern as in 2021 when its price surged from $0.21 to $3.10 within just a few months. While ADA is facing a price decrease, another project that has marked its presence in the market as a haven for investors is Rebel Satoshi Arcade (RECQ).

Rebel Satoshi Arcade (RECQ): The Staking Platform Offers Investors A Safe Haven

Rebel Satoshi Arcade, a new DeFi crypto, has continued establishing its presence as a safe haven by challenging the established norms and heralding a thrilling new era of decentralization. It is a meme that aims to disrupt the market, awaken the silent majority, and ignite change. The project plans to burn any unsold tokens after the presale concludes. With this approach, Rebel Satoshi Arcade is reducing the token’s total supply and driving its commitment to decentralization as the top crypto to buy in the market.

This new DeFi crypto project has provided an avenue via its NFT platform where investors can immerse themselves in a world of exclusive digital art and collectibles. With this feature, Rebel Satoshi Arcade will unveil two highly anticipated NFT collections featuring 9,999 unique characters from the Rebel Satoshi ecosystem. These NFTs embody the unity, courage, and defiance that drive the Rebel Satoshi Arcade community’s quest against tyranny.

Rebel Satoshi Arcade also offers a lucrative staking opportunity, providing a safe haven for investors seeking the top crypto to buy to bolster their portfolios. Through this approach, the project contributes to the growth and security of the ecosystem. Community members can earn high-percentage rewards through the staking mechanism by locking their tokens, fortifying their unwavering commitment to the cause. This transparent and efficient process ensures that rewards are distributed automatically and fairly, making it one of the top gaming tokens to buy in the market. 

Conclusion 

If Cardano continues to focus on the upcoming network updates, ADA might have a great adoption rate. But with Rebel Satoshi Arcade on the scene, investors can take advantage of the opportunity it’s offering to the market. As one of the best gaming tokens in the market, Rebel Satoshi Arcade has gained the spotlight as a project with the potential for huge returns. Take action now; jump into this project by buying the RECQ token through the website.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Website or contact Rebel Red via Telegram.

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