The cryptocurrency market is still reporting market sentiment despite a minor value decline. Investor interest in the nascent market has persisted, with key market participants like Bitcoin and Ethereum recently posting small gains.
The well-known Ethereum rival Cardano is up 3.27% with a higher weekly run of 13.44%, continuing the robust trend. Many investors are considering buying ADA in light of the recent big increase.
ADA Maintains Positive Momentum
Cardano (ADA) is now trading at $0.39, representing a rise of 3.27%, with a $410 million 24-hour trading volume.
After an increase of 11% over the previous 14 days and a 12.6% increase over the previous 30 days, the digital asset has continued to advance in a good direction.
Cardano’s market capitalization at the moment is estimated to be $13,859,737,812 with 34 billion ADA coins in circulation.
The Cardano coin, however, is most likely to reach new price peaks after the market recovers.
It should come as no surprise that the recent price hike is still having a favorable effect on ADA’s movement.
The short-term 50-day SMA value of $0.35 is currently exceeded by the current price of the digital asset. The long-term price, however, is below its 200-day SMA indicator of $0.54, and a rebound in the wider crypto market may help it catch up.
The 50% Fibonacci retracement level of $0.34 appears to have provided support for ADA before it soared, as seen by the technical graph. The 61.8% Fibonacci retracement level of $0.37 has been broken by the asset, and the 78.6% retracement level of $0.41 is now within striking distance.
The asset might reach this level and much higher with a persistent bullish trend, but ADA could also run into resistance at this point and fall.
With a relative strength index (RSI) of 61.27, the asset is considered to be underbought, and the moving average convergence divergence (MACD) indicator is in the buy range.
The ADA’s technological display is underwhelming. However, there is opportunity for growth, and a market upswing coupled with an extended positive trend might push the asset’s price to a new high.
The next Cardano ADA feature can cause the asset price to skyrocket
The upcoming release of a new feature that will allow developers to instantly deploy an EVM contract from any ADA wallet will put Cardano on the path to become a top-chain compatible with the Ethereum Virtual Machine (EVM).
The Cardano ecosystem team will put into practice a revolutionary breakthrough that will put ADA at the top of the EVM chain.
Sebastien Guillemot, co-founder of Milkomeda and a well-known blockchain developer, reaffirmed this.
By using this new function on Milkomeda, users may interact with dApps and other smart contract services on the Ethereum Virtual Machine while remaining in the Cardano ecosystem.
Consider Two High-Value Assets
One of the key market movers is the asset of the Cardano. There are, however, a few value-oriented coins on the market now that have practical uses.
These new coins’ presale pricing makes it straightforward for prospective investors to buy them for a cheap cost with better profit margins.
The coin $LHINU from Love Hate Inu is one such valuable asset
A unique vote-to-earn (V2E) platform called Love Hate Inu was created on the Ethereum blockchain to provide a safe and impenetrable voting process.
By staking their LHINU tokens, which they may also do to gain rewards, users of the site can take part in polls.
The LHINU token costs $0.000095 as of the time of publication. Since the project’s launch, its popularity has grown tremendously, raising more than $2.5 million in a few of weeks.
The Metropoly token, $METRO, is another high-value asset that investors should take into account.
With minimal paperwork or additional costs, Metropoly seeks to make real estate investing simpler for everyone, regardless of geography or socioeconomic standing.
For as low as $100, the project provides a non-fungible token (NFT) market place that is backed by actual real estate.
Investors may acquire METRO tokens for $0.0769 each at the time of writing using ETH, USDT, or BNB as forms of payment.
Through its presale scheme, the blockchain-based real estate business has already garnered more than $1.1 million from clever investors.
