Cardano (ADA) broke through the $1 level again last night, posting a staggering 8.6% gain over the past 24 hours. This morning the price of the popular altcoin reached $1.05, but that may not be all. Investors’ optimism may lead to a breakout of the $1.10 level.
A break above this level allows for a rise towards $1.74, which equates to a 64% increase in price. Could rising investor optimism push Cardano higher?
Cardano breaks $1 again
After the sharp decline on Monday, we saw a strong rebound in Bitcoin yesterday and it bottomed at $96,000. Market optimism has affected Cardano holders. Cardano price broke above $1 again last night and appears to be rising further this morning.
The number of short-term holders willing to dump Cardano has shrunk after a small rally. This can be seen in the Average Coin Life indicator, which shows how long the average investor holds Cardano.
The coin’s average lifetime, or MCA, has risen above 540 and appears to have started a new uptrend. If Cardano holders continue to hold out and the cryptocurrency market continues to rise, the chance of a breakout above $1.10 will be higher.
Can Cardano rely on Bitcoin?
One of the plans of Cardano founder, Charles Hoskinson, was to make Bitcoin usable on the Cardano blockchain. This is a complex process, but if successful, it could give Cardano a big boost.
Bitcoin’s blockchain itself is very old and slow, which is why interoperability is an important use case that will allow Bitcoin to move with the times.
Update: Cardano is integrating Bitcoin to enhance multi-asset interoperability, enhance the DeFi ecosystem and unified wallet experience. pic.twitter.com/Jz6N HzNDM6
— Cardano Intern (@Cardano_Intern) January 14, 2025
Of course, Cardano is not the first blockchain on which Bitcoin can be used, but it can still give a boost to the altcoin. Cardano’s decentralization makes it an interesting blockchain to use Bitcoin on.
ADA Price Forecast – When Will Cardano Rise?
Cardano price has been rising since Monday and shows no signs of stopping today. ADA is currently valued at $1.04 and may soon test its resistance at $1,140. A break above this level could lead to a massive 64% rally to $1.74.
However, there is still potential resistance around the $1.33 level, based on the peak reached at the beginning of December. The growing interest in cryptocurrencies, coupled with growing interest in Cardano itself, could lead to a significant increase in the coming weeks.
Cardano’s trading volume today is about $1.5 billion, compared to yesterday’s levels. This means that interest in Cardano remains high and a rally to $1.10 or higher is still possible today.
If this is followed by a 64% pump, this could happen within days of this breakout. Realistically, it is important that Bitcoin maintains or improves at its current level. For example, if the price of Bitcoin exceeds $100,000 again, Cardano will likely rise to the next resistance level.
Trump’s inauguration on January 20 represents an important catalyst worth monitoring. This day itself and the coming days can become very volatile for cryptocurrencies. In the week of January 20, Cardano’s price could rise above $2, a rate of about 90%.
Which altcoins will explode in the next crypto rally?
The rise in Bitcoin price we’re seeing this week isn’t just madness running rampant; It’s investors preparing to go crazy. The adjustments that Trump could make to the US system as of January 20 could give a major boost to cryptocurrencies. Of course, not only Cardano will benefit from this.
Below we take a look at three alternatives to Cardano that have the potential to rise much faster if the cryptocurrency market explodes in activity again. These smaller cryptocurrencies carry more risk than Cardano, but can still be purchased at a fixed low price during the pre-sale.
Wall Street Call ($WEPE)
Wall Street Pepe ($WEPE) is one of the hottest new meme currencies right now. In fact, the $WEPE pre-sale has raised more than $48 million since its launch in December. The meme coin is now full of interest, thus showing the greatest potential for upside after the pre-sale.
Most coins succeed in attracting attention because traders are only speculating on the price. Wall Street Baby goes one step further, because by holding the token, you gain access to an exclusive community. Within this community, you will be provided with elite trading insights, which may lead to even more profits.
grinding. Stacking. I focused on green. 🐸 ⚔️ pic.twitter.com/W0MbgCIoaL
– Wall Street Baby (@WEPEToken) January 14, 2025
The community is exclusive to token holders, which means that if the trading insights are of high quality, the demand for $WEPE will skyrocket. In such a case, you would pay a lot for WEPE, but today it still has a fixed low price of $0.00036648 per token.
Now to the Wall Street Baby
Solaxy ($SOLX)
Cardano has improved a lot since November, but it has not yet been able to compete with Solana. Solana is very popular among coin traders, but it is far from perfect. Solaxy ($SOLX), the first-ever Solana Layer-2, hopes to solve Solana’s problems and is selling its native token in a presale today.
Solaxy is a brand new blockchain that will be launched soon. This means that $SOLX has a lot of room to rise, as well as new projects being implemented on-chain. You can also take advantage of the benefits of Solana, without the risk of disruptions and failed transactions.
$SOLX is the key to accessing the new blockchain, but it also offers exclusive rewards during the pre-sale. Today you can buy $SOLX for $0.0016 each, while you can stake the tokens for an APY of 337%. Solaxy might be an interesting project to keep an eye on.
Now to Solaxy
Baby Mind ($MIND)
Mind of Pepe ($MIND) is one of the latest cryptocurrency pre-sales to launch this week. However, at the time of writing, he has already raised almost his first million dollars. While this new venture is turning heads, it is still possible to join the first wave of investors today.
But what is Mind or Baby? If you’ve been keeping an eye on the market, AI is getting a lot of attention right now, and that’s also something $MIND is taking advantage of. Mind of Pepe is an AI agent that analyzes social media platforms and eventually releases its own tokens. $MIND holders will be the first to gain access.
$MIND is selling for $0.0031134 per token at this early stage, but is set to rise in just over 24 hours. As an early investor, you benefit from this low price, as well as high betting rewards. Distribute your tokens instantly for a current APY of 1810%, which equates to approximately 50% additional tokens per day
Now to Baby’s mind