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Simon Chandler
Author
Simon Chandler
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The price of Cardano has risen by 6% in the past 24 hours, climbing to $0.7682 as ADA’s one-day chart forms a golden cross for the first time since November 2023.
Back then, ADA rose from $0.384 to $0.67 in a single month, and it seems like the altcoin is in the process of doing something very similar now.
It’s now up by 32% in a week and by 133% in a fortnight, as the market continues to ride the exuberance that followed Donald Trump’s election victory this month.
And given that its one-day chart has only just formed a golden cross, its rally has plenty of time left to continue.
Cardano Nears Golden Cross – What Does This Mean for ADA Investors?
ADA had been on a decline since the middle of March, when it peaked at around $0.775.
It’s now very close to topping this one-year high, with buyers taking advantage of what remains a heavily discounted price.
Looking at ADA’s one-day chart, we see that its RSI (purple) has risen to 80 in the past few days, a sign of buying pressure.
We also see its 30-day EMA (orange) climb above its 200-day counterpart (blue), meaning that Cardano has broken out and is in the middle of a bull phase.
Also bullish is ADA’s trading volume, which at $2.3 billion today has risen by over 600% in only a few days.
This signals strong, rising demand, and because the coin’s indicators have only just broken out, we could see ADA continue rallying in the short- and medium-term.
It’s entirely arguable that Cardano is in a very good position to take full advantage of the new bull market, given that it has some of the strongest fundamentals in the market.
As a layer-one network, it now has a total value locked of $470 million, which has more than doubled in a year.
This is a measure of the activity and usage Cardano’s platform attracts, and it’s only like to increase in the coming months.
That’s because Cardano witnesses more than active development than many of its peers, with nearly 2,000 projects building on its network, not to mention the almost 95,000 Plutus scripts (smart contracts) already in operation.
We could therefore see ADA outperform other major alts, as buyers take advantage of its undervaluation and as it makes up for lost time.
Given that it has just entered a golden cross, it could reach $1 in only a few weeks, before ending the year at around $2.
High-Return Alternatives to Major Tokens
Established coins such as ADA can be safer and more predictable than newer tokens, yet they may rise less dramatically, something which could frustrate traders looking for the biggest profits.
In such a case, they may be better off going for very new small-cap tokens, or even presale coins that have yet to list.
And one of the most popular presale coins right now is Flockerz (FLOCK), an ERC-20 token that has raised more than $2.2 million since launching its offering last month.
Flockerz is exciting because it’s the market’s first vote-to-earn cryptocurrency, one which rewards holders for joining governance votes.
Every single decision concerning its growth and development will go to community votes, with the most active participants receiving the biggest rewards.
And as an ERC-20 coin, holders of FLOCK will be able to stake it for a passive income, meaning it will provide two sources of income.
This helps to explain why FLOCK’s sale is already attracting so many investors, and why it’s likely to gain more momentum as the coin nears listing.
It has a capped supply of 12 billion FLOCK, with 20% of this going to the sale, 25% to staking, and another 25% to governance rewards.
Investors can join FLOCK’s presale by going to its official website, where they buy the coin at a price of $0.006053.
This will rise in two days and several more times before the sale ends, so new buyers should act sooner rather than later.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
