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Best Cryptocurrencies To Invest In April 2024
10. Cardano (ADA)
Market cap: $16.8 billion
Year-over-year return: 24%
Somewhat later to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification in platforms like bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which ADA, its native coin, powers.
Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Apr. 25, 2024, its price was at $0.47. This is an increase of 2,266%
#CardanoEvolution #bitcoinhalving

🔥🚀 Explosive Critique Alert! 🔥🚀

Charles Hoskinson, the visionary founder of Cardano, is pulling no punches, slamming the Biden administration for what he sees as deliberate sabotage of the American crypto industry!

💥 In a fiery video on May 9, he didn't hold back, accusing President Biden of anti-crypto actions that hinder innovation.

📉 Hoskinson's bold words highlight the urgent need for fair regulations, contrasting the US approach with crypto-friendly havens like Switzerland and Singapore.

🌐 Don't miss this groundbreaking insight into the battle for crypto freedom!
#ETFvsBTC #CardanoEvolution #BTC #BidenSupportsGensler #CryptoInsights

🌟 Exciting News for Cardano Enthusiasts! 🌟

Frederik Gregaard, CEO of the Cardano Foundation, unveils a new era for Cardano, highlighting the imminent release of the interim constitution as the project progresses towards decentralized governance. 🚀

The Cardano Constitution sets the stage for community governance, promoting transparency, openness, and responsible decision-making. With the interim constitution, every ADA holder will have a voice in shaping Cardano's future. 🗣️💼

As Cardano gears up for its Chang hard fork in 2024, paving the way for community-run governance, stakeholders will have the opportunity to test the governance model before finalization. 🛠️

Get ready for workshops and a constitutional convention in late 2024, where ADA holders will have the power to determine Cardano's governance future. 🌐

Exciting times ahead for Cardano! Stay tuned for more updates on this groundbreaking journey! #CardanoEvolution #DecentralizedGovernance 🌿🔗🚀#bitcoinhalving #SHIB

Cardano (ADA) Price Could Enter a 25% Bull Rally

Cardano’s ADA price is above $0.42 but struggles to secure $0.500 as support. This crucial psychological level could act as a recovery rally trigger.
With the changing market conditions, it seems likely that ADA could note a surge after overcoming this barrier.

Cardano Holders Should Take Note
Cardano’s price has tended to react to investors’ actions, which places ADA in a good spot. This is because not only is the altcoin primed for a rally, but investors can also take profits.
This is derived from the Market Value to Realized Value (MVRV) ratio. This metric assesses investor profit or loss.
Cardano’s 30-day MVRV sits at -10.24 %, signaling losses and potentially prompting accumulation. Historically, ADA recovery occurs within the -7% and -17% MVRV range, labeling it an accumulation opportunity zone.

The broader market cues are also supporting a bullish outcome. For instance, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are both positive at the moment. RSI is currently above the neutral line at 50.0, sitting in the bullish zone, while MACD is sustaining its bullish crossover.

RSI measures the magnitude of recent price changes to evaluate overbought or oversold conditions. MACD, on the other hand, identifies momentum trends by comparing short and long-term moving averages.
Combining this with the potential accumulation at the hands of ADA investors, a rally could occur.

ADA Price Prediction: Reclaim $0.500
Cardano’s price trading at $0.462 is just under the resistance of $0.468 after bouncing off the support at $0.428.
To secure the ADA rally, the $0.518 barrier would need to be flipped into support. This could help Cardano’s price escape the three-week-long consolidation and continue its rise to $0.600, marking a 25% rally.

On the other hand, if the breach fails, Cardano’s price could likely remain consolidating. However, if the support of $0.420 is lost, the bullish thesis would be invalidated. This would leave ADA vulnerable to a fall to $0.400.$ADA #CardanoEvolution