{"id":5898,"date":"2025-01-03T09:17:48","date_gmt":"2025-01-03T09:17:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=5898"},"modified":"2025-01-03T09:17:48","modified_gmt":"2025-01-03T09:17:48","slug":"cardanos-ada-zooms-above-1-as-bitcoin-remains-rangebound","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=5898","title":{"rendered":"Cardano\u2019s ADA Zooms Above $1 as Bitcoin Remains Rangebound"},"content":{"rendered":"<div>\n<p>Programmable blockchain Cardano\u2019s ADA token jumped 12% in the past 24 hours to lead gains among crypto majors, with rangebound trading in bitcoin (BTC) influencing the broader market.<\/p>\n<p>ADA crossed $1, a three-week high, as BTC, ether (ETH), Solana\u2019s SOL and dogecoin (DOGE) added under 2%. The broad-based <a href=\"https:\/\/indices.coindesk.com\/indices\/cd20\" target=\"_blank\">CoinDesk 20 (CD20)<\/a>, a liquid index tracking the largest tokens by market cap, rose 1.57%.<\/p>\n<p>Traders expect bitcoin price-action to remain rangebound until late January, with gains expected from February onward as President-elect Donald Trump takes office, as a <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/12\/31\/dont-expect-bitcoin-fireworks-ahead-of-new-year-traders-say-as-btc-etfs-lose-420-m\" target=\"_blank\">CoinDesk analysis<\/a> previously noted.<\/p>\n<p>ADA\u2019s bump came on no immediate catalyst, but the protocol is set to see several fundamental developments in the coming months. These include a <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/10\/25\/bitcoin-liquidity-could-flow-to-cardano-ecosystem-with-new-btc-bridge\" target=\"_blank\">bitcoin-centric decentralized financial<\/a> ecosystem and ongoing efforts to improve Cardano\u2019s scalability, network performance and interoperability with other networks.<\/p>\n<p>Price-chart analysis suggests further gains of as much as 30% for the token ahead.<\/p>\n<p>\u201cADA&#8217;s three-day rise has lifted prices above a trendline characterizing the four-week pullback from early December highs,\u201d CoinDesk analyst Omkar Godbole said. \u201cThe breakout and a renewed bullish crossover on the momentum indicator MACD suggest the potential for a re-test of the Dec. 3 high of $1.32.\u201d<\/p>\n<p>\u201cThe widely-tracked 14-day RSI is looking to cut through a descending trendline, validating the bullish price action,\u201d Godbole added.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/0ed2431ec7cd7c7261e7e290476eca340d45c274-2390x1036.png\" alt=\"\"><\/p>\n<p>In technical analysis, MACD (Moving Average Convergence Divergence) indicates momentum using average prices over a period, with a bullish crossover meaning a potential price increase. RSI (Relative Strength Index) measures the speed and change of price movements; and cutting through a trendline suggests continued upward movement.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Programmable blockchain Cardano\u2019s ADA token jumped 12% in the past 24 hours to lead gains among crypto majors, with rangebound trading in bitcoin (BTC) influencing the broader market. ADA crossed $1, a three-week high, as BTC, ether (ETH), Solana\u2019s SOL and dogecoin (DOGE) added under 2%. The broad-based CoinDesk 20 (CD20), a liquid index tracking [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-5898","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/5898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5898"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/5898\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}