{"id":177683,"date":"2021-02-13T19:00:00","date_gmt":"2021-02-13T16:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cardano-is-soaring-but-can-ada-gain-another-380-to-break-its-record-high-vs-bitcoin\/"},"modified":"2021-02-13T19:00:00","modified_gmt":"2021-02-13T16:00:00","slug":"cardano-is-soaring-but-can-ada-gain-another-380-to-break-its-record-high-vs-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cardano-is-soaring-but-can-ada-gain-another-380-to-break-its-record-high-vs-bitcoin\/","title":{"rendered":"# Cardano is soaring, but can ADA gain another 380% to break its record high vs. Bitcoin?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41291137938\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41291137938\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/cardano-is-soaring-but-can-ada-gain-another-380-to-break-its-record-high-vs-bitcoin\/#Cardanos_BTC_pair_is_showing_signs_of_life\" >Cardano&#8217;s BTC pair is showing signs of life<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/cardano-is-soaring-but-can-ada-gain-another-380-to-break-its-record-high-vs-bitcoin\/#Bitcoin_dominance_bottoming_out\" >Bitcoin dominance bottoming out<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/cardano-is-soaring-but-can-ada-gain-another-380-to-break-its-record-high-vs-bitcoin\/#Crucial_levels_to_watch_for_Cardano\" >Crucial levels to watch for Cardano<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Cardano is soaring, but can ADA gain another 380% to break its record high vs. Bitcoin?  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin\u2019s (BTC) price has been consolidating in recent days, which kickstarted the rest of the cryptocurrency market. This frequently h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens as Bitcoin starts to consolidate, it gives the chance for the rest of the market to catch up.<\/p>\n<p>Cardano (ADA) is one such cryptocurrency, which gained 170% in February alone with its price nearing $1 for the first time ever.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cardanos_BTC_pair_is_showing_signs_of_life\"><\/span>Cardano&#8217;s BTC pair is showing signs of life<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/6e7b3245-e26b-4278-8105-d5ba9fd863cf.png\"><figcaption style=\"text-align: center;\"><em>ADA\/BTC 3-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/xaMiggxm\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>However, lots of information can be derived from the BTC chart as it\u2019s just starting to wake up from its bear market slumber. The recent run created a new higher high \u2014 the highest since July 2018 \u2014 which is a big signal for the uptrend to continue. <\/p>\n<p>However, the all-time high in the BTC pair is still 380% away. Such a run would, of course, push its value in USD even higher.<\/p>\n<p>Altcoins have been showing massive strength in their USD pairs, as many of them are creating new all-time highs. However, the BTC pairs of these altcoins still have a lot of upside potential. <\/p>\n<p>This means that the market may just be starting the new bull cycle. In Cardano&#8217;s case, the BTC pair is approaching a significant resistance zone, where a breakout doesn\u2019t seem likely. However, once ADA price breaks through this resistance zone, continuation is expected toward 0.00003500 sats. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_dominance_bottoming_out\"><\/span>Bitcoin dominance bottoming out<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/94179d42-3805-46a8-a01f-b683640b222b.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin Dominance 3-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/UgSLlNYB\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>A substantial correction typically occurs after a major rally. Anyone who has ever held altcoins knows this very well. The Bitcoin dominance chart can frequently tell you when those corrections are going to occur.<\/p>\n<p>Historically, the best period to buy altcoins is in December. This was confirmed again recently as altcoins started to see massive gains in the new year.<\/p>\n<p>However, the chart also shows that Bitcoin dominance relief rallies can occur before more downside. This often happens in February and March, during which a healthy correction could be expected.<\/p>\n<p>After such a possible pullback, more upside for altcoins is likely, particularly in their respective BTC pairs.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crucial_levels_to_watch_for_Cardano\"><\/span>Crucial levels to watch for Cardano<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/97e3542f-d14c-4756-91a8-7e8eaea2883a.png\"><figcaption style=\"text-align: center;\"><em>ADA\/USDT 1-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/4yU1bwKc\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The USDT chart of Cardano shows a massive vertical move, which makes it rather difficult to establish the support and resistance levels. However, several points of interest can be found based on the daily timeframe using the Fibonacci indicator and historical price action.<\/p>\n<p>The first point is found around the $0.65-0.70 area, confluent with the 0.35-0.382 Fibonacci level. The next support zones are at $0.55 and $0.42-0.46 if that level doesn&#8217;t hold.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/11564175-23db-4afc-a4a0-e5fe4d2a3d35.png\"><figcaption style=\"text-align: center;\"><em>ADA\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/NsGahZ8J\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The 4-hour chart for Cardano shows confluence with the 1-day chart as an area of compression is seen around the $0.70 area. This support zone is in line with the daily chart as a Fibonacci level is found in this region as well. <\/p>\n<p>If this first support zone doesn\u2019t hold as support, the next support zone is shown on the 4-hour chart. This support zone is found at $0.50-0.55.<\/p>\n<p>After a correction or a test of these levels, the Fibonacci extension tool also hints at points of interest once ADA enters price discovery. If Cardano makes a renewed impulse wave, the levels to watch will be found at $1.50, $2.35 and $3.20. <\/p>\n<p>Overall, the likelihood of a massive bullish year for cryptocurrencies is increasing with each day. <\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptomichnl?lang=en\"><em>author<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/cardano-is-soaring-but-can-ada-gain-another-380-to-break-its-record-high-vs-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Cardano is soaring, but can ADA gain another 380% to break its record high vs. Bitcoin? &#8221; Bitcoin\u2019s (BTC) price has been consolidating in recent days, which kickstarted the rest of the cryptocurrency market. This frequently happens as Bitcoin starts to consolidate, it gives the chance for the rest of the market to catch&#8230;<\/p>\n","protected":false},"author":1,"featured_media":177684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMzc1ZDYzMDctOTU4MC00YzRlLWI1ZTEtM2JlYmYxNWMxNTQ3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75378,75164,73785],"class_list":["post-177683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-cardano","tag-price-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/177683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=177683"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/177683\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/177684"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=177683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=177683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=177683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}