ADA May Outperform BTC, DOGE and ETH, Predicts Twitter User

  • The crypto Twitter user predicted that ADA will outperform DOGE, BTC and ETH in the next bull cycle.
  • He also shared his beliefs that ETH will outperform BTC and that DOGE will beat ETH.
  • At press time, BTC, ETH, ADA and DOGE were all down in the past 24 hours.

The crypto Twitter user SlumDOGE Millionaire shared his predictions for Ethereum (ETH), Bitcoin (BTC), Dogecoin (DOGE) and Cardano (ADA) in a tweet yesterday. In his post, the user shared his belief that ETH will outperform BTC in the next bull run. In addition to this, he forecasted that DOGE will outperform ETH in the next bull run as well.

More interestingly, the Twitter user predicted that ADA will outperform BTC, ETH and DOGE in the next bull run. This prediction comes after the Ethereum-killer was labeled as a security in the SEC’s lawsuits against Binance and Coinbase – causing the altcoin’s price to plummet.

This drastic drop in ADA’s price could potentially open up an opportunity for massive gains. This may be why the Twitter user thinks that ADA will outperform BTC, ETH and DOGE in the next bull cycle.

In the past 24 hours, however, ADA’s price performance was the worst of the 4 according to CoinMarketCap. At press time, the crypto’s price was down 3.37% and stood at $0.2872 as a result. Meanwhile, the market leaders BTC and ETH were only down 1.91% and 1.70% respectively during this period.

DOGE also experienced a 24-hour loss but was only down 2.72%. As a result, the popular meme coin was changing hands at $0.06577 at press time.

Daily chart for ADA/USDT (Source: TradingView)

From a technical perspective, ADA was trading between the 9-day and 20-day EMA lines at press time. This is after it declined between 9 June 2023 and 15 June 2023, which resulted in the altcoin’s price dropping below the key support level at $0.2752 and towards the next support level at $0.2504. ADA’s price has been able to recover somewhat in the days that followed.

Should ADA’s price close a daily candle above the 20-day EMA line within the next 48 hours, it may attempt to flip the resistance level at $0.3170 into support. On the other hand, a drop back below the $0.2752 will put ADA at risk of falling back down to $0.2504.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Comments

Post a Comment

Popular posts from this blog

Fetch.ai Price Prediction: FET Pumps 14% On Nvidia Earnings As AI Cryptos Boom And Analysts Say This New Solana Meme Coin Might Outperform BONK, WIF And MYRO

Image
The Fetch.ai price has soared by 14.5% in the past 24 hours to trade at $1.12 as of 8:15 a.m. EST on trading volume that surged 10.5% to $612 million. This surge came after AI chip maker Nvidia reported that fourth-quarter earnings had surpassed market expectations, buoying most of the AI crypto sector. Other AI cryptos to surge included Render (RNDR), Akash Network (AKT), and Bittensor (TAO), all ascending by double digits. Fetch.ai Price Susatains Bullish Momentum Above the Bullish Pennant FETUSD Analysis by Tradingview The Fetch.ai price indicates a continued uptrend after breaking from the consolidation stage. However, the resistance level at $0.78 has led to the formation of a bullish pennant, which signals a bullish trend reversal. However, the bulls seem to have acted on the pennant, indicating resilience on the $0.4424 support zone and flying the price past the $0.78 resistance, confirming the bull rally to the $1.17 resistance level. The technical indicators are bul...
Read more

Bitcoin slicing through this resistance could send it over $47k

Image
Although the majority of assets in the cryptocurrency sector got off to a slow start this week, Bitcoin (BTC) could be looking at a massive advance toward and beyond the threshold of $47,000 soon, provided it manages to break the key resistance that currently stands in its way. As it happens, Bitcoin’s realized price distribution (URPD) or unspent transactions output (UTXO), or the amount remaining after every transaction, suggests that the maiden cryptocurrency is facing “stiff resistance at $38,500,” as noted by crypto market analyst Ali Martinez in an X post on November 26. Having said that, the crypto trading expert also observed that the flagship decentralized finance (DeFi) asset “slicing through this barrier could help BTC advance toward $47,360,” which is the next significant point in the chart Analysis that Martinez shared. Bitcoin UTCO realized price distribution. Source: Ali Martinez Specifically, UTXO UPRD shows at which prices the current Bitcoin UTXOs appeared, ea...
Read more

Binance faces calls for ban by Nigerian Bureau De Change association

Image
Gwadabe reportedly emphasized that Binance trading has increasingly established itself as a central point for both the Investor and Exporters window as well as the parallel market. Binance continues to experience an increase in regulatory heat as the Federal Government of Nigeria is being urged by the Association of Bureau De Change Operators of Nigeria (ABCON) to prohibit the activities of Binance within the nation. ABCON is a self-regulatory body and an umbrella for all the central bank-licensed Bureaux de Change (BDC). This action comes in response to the association reportedly recognizing Binance as a significant contributor to the pressure on the naira. As reported by Nairametrics, a local news agency, Alhaji Aminu Gwadabe, president of ABCON, provided this counsel in an interview held on Aug. 8 in Lagos. Gwadabe reportedly emphasized that Binance trading has increasingly established itself as a central point for both the Investor and Exporters window as well as the parallel mar...
Read more