Cardano price could rise 30% as crypto markets take to a revival course

Source Fxstreet
  • Cardano price action has consolidated into a descending triangle, but a reversal seems likely.
  • ADA could make a 30% climb if it manages a break and close above $0.5410.
  • A break and close below 0.4668 would invalidate the bullish thesis. 

Cardano (ADA) price continues to consolidate below a descending trendline, a bearish technical formation that extended the choppy altcoin market. However, this outcool appears to be changing as cryptocurrency markets take to what appears to be a revival course. 

Also Read: Cardano price could rise 15% as shark and whale wallets resurface

Cardano could bottom out around now

Cardano (ADA) price downtrend has lasted since mid-December, falling around 30%. The price may have bottomed out as the altcoin confronts the blockade. Increased buying pressure could see ADA price overcome the trendline to confront the resistance confluence between the 50-day Simple Moving Average (SMA) and the horizontal line at $0.5419.  

Key levels to watch beyond this level include the $0.5908 roadblock, 10% above current levels, or  high at $0.6412. In a highly bullish case, the gains could see the Cardano price complete the 30% climb to $0.6800.  

ADA/USDT 1-day chart

On the other hand, a rejection from the descending trendline could see ADA price continue below the foothold of the trendline, potentially testing the $0.4668 bottom, nearly 10% below current levels. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changedRate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
Author  Irene Q.
Sep 23, Wed
Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
placeholder
【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonightThe 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
Author  Suzie
Sep 30, Wed
The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
placeholder
Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflationGold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
Author  FXStreet
Oct 01, Thu
Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
placeholder
United States Dollar Index sits near March 2025 highs, above 102.00 ahead of US NFPThe US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.
Author  FXStreet
Yesterday 02: 51
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.
placeholder
WTI Price Forecast: Dips to $91.50 as Middle East jitters limit lossesWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
Author  FXStreet
20 hours ago
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
Related Instrument
goTop
quote