Glassnode lead on-chain analyst James Check said that Bitcoin could rally to $32,000, which is its “true cost basis.”

ADA’s price could experience sideways movement and choppy price action until the 2024 Bitcoin halving.

In a recent video, Dan Gambardello expressed his excitement about the latest wave of Cardano adoption.

The analyst attributed this newfound attention on Cardano to meme coins.

The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA.

MACD will simplify the reading of a moving average cross easier.

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets.

This information helps to contextualize both the high volume of spending within the 6-month to 12-month age cohort and the recent surge in profitable transfer volume.

when analyzing the spending range for coins aged 6 months to 12 months, Glassnode says it is important to note that out of a total of 183 potential acquisition days, 167 of them (92%) are currently in a profitable position relative to the current spot price.

After a significant rally, PEPE, the newly launched meme coin made an extensive retracement. PEPE is trending sideways in a triangle that Crypto Tony, a Crypto Twitter analyst, believes would determine PEPE’s next direction.

PEPE launched in the middle of April 2023 and generated significant interest one week afterward.

PEPE price is currently in a sideways triangle, preparing a breakout toward new trend.

As a result, the ADX rating of 30.71 on the ADA price chart confirms this recovery hypothesis, suggesting a strongly rising trend.

Despite temporary bearish pressure, ADA’s consolidation phase and bullish indicators suggest a potential rebound, making it an opportune time for traders to consider acquiring holdings at lower levels.

When the average directional indicator (ADX) is over 25, it indicates bullish momentum, and when it is below 20, it indicates bearish momentum.

This movement indicates a comeback as buying pressure rises and sellers lose control.

The negative hand in the ADA market is losing its grasp, with a stochastic RSI rating of 57.11 and going northward.

This expectation is based on the MFI level, which indicates that buying pressure is building and that ADA may rebound if bulls keep fighting.

With the Money Flow Index at 46.53 and trending higher, a bullish trend has the potential to develop.

Michael Tozoni took out a Bitcoin-backed loan hoping to diversify into property. (Supplied)
If you are broke and you have no money, but you have a job and a constant income, banks will be very happy to give you money,” he says. “If you have a lot of money and a lot of investments, but no income, banks do not want to give you money.