Logo
Cardano Ecosystem

The Daily Hodl

12/17/2023

·

101 views


Trader Says Path Looks Clear for Cardano To Move Higher, Predicts ‘Big Price Move’ for ADA - The Daily Hodl

Crypto analyst and trader Ali Martinez is expressing bullish sentiment on Cardano (ADA) and one low-cap altcoin. Starting with the eighth-largest crypto asset by market cap, Martinez tells his 35,700...

Trader Says Path Looks Clear for Cardano To Move Higher, Predicts ‘Big Price Move’ for ADA - The Daily Hodl

Crypto analyst and trader Ali Martinez is expressing bullish sentiment on Cardano (ADA) and one low-cap altcoin.

Starting with the eighth-largest crypto asset by market cap, Martinez tells his 35,700 followers on the X social media platform that “with no significant resistance barriers in sight, the path looks clear for ADA to move higher”.

According to Martinez, the key resistance levels that lie ahead for Cardano are $0.80 and $1 and once overcome, will open a “window for ADA to shine”.

Per a chart citing data from blockchain analytics platform IntoTheBlock, about 90.76% of Cardano holders that bought the crypto asset at between $0.553 and $0.754 are in profit at an earlier ADA price of $0.653.

Source: Ali Martinez/X

Cardano is trading at $0.645 at time of writing.

Turning to the iris biometric cryptocurrency project Worldcoin (WLD), Martinez says that the 162nd-largest digital asset by market cap could be on the cusp of a bullish move.

“A massive exchange outflow of 3.6 million WLD has coincided with a spike in whale transactions. This may indicate WLD whales are gearing up for a big price move.”

Source: Ali Martinez/X

Worldcoin is trading at $2.66 at time of writing.

Next up is Shiba Inu (SHIB). Martinez says that the 18th-largest crypto asset by market cap has traded for about 15 months in a descending parallel channel, a pattern that is typically bearish. According to Martinez, Shiba Inu is now attempting to break out of the descending parallel channel.

“A decisive weekly close above this level [$0.000011] could signal a bullish breakout, propelling SHIB towards $0.000014. However, if it faces rejection here, we might see a pullback to $0.000008 before the bullish breakout.”

Source: Ali Martinez/X

Shiba Inu is trading at $0.00000992 at time of writing.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

AD

TapTax - Cardano Crypto Taxes Made Simple. Available Now!

Simplify your Crypto Tax experience! From a passive holder, to day trader, to NFT project, we have your taxes covered.BUY NOW!


Read Original Article on The Daily Hodl

ORIGINAL SOURCE

https://dailyhodl.com/2023/12/16/trader-...

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.


Genius Yields DEX Launched!

More from The Daily Hodl

See more
On-Chain Activity Suggests Institutions Are Driving Recent Bitcoin Price Action, According to Crypto Analyst - The Daily Hodl
The Daily Hodl
On-Chain Activity Suggests Institutions Are Driving Recent Bitcoin Price Action, According to Crypto Analyst - The Daily Hodl

02/17/2024

·

12 views

Related News

See more
Genius Yields DEX Launched!

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)