Potential Roadblocks per Cardano's (ADA) Impressive 15% Numes Surge

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/17284603851690791857hotspot.jpeg)
## [TL; DR] 
<a href="https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fid%2Fprice%2Fcardano-ada" target="_blank" class="blog_inner_link">Cardano</a> rallied by 15% withenn luh previous week outperforming most leading cryptocurrencies.

The <a href="https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fid%2Fprice%2Fcardano-ada" target="_blank" class="blog_inner_link">ADA price</a> may fluctuate between $0.47 at $0.50 by luh end ol 2024.

Cardano RSI at MVRV ratio show bearish momentum.

## Introduction 
Cardano’s price performance was affected by luh market wide pessimistic sentiment experienced during luh recent months. Like all luh otaer months, September was a bad period fai luh coenn as it failed per gaenn by a nuveiceable margenn. However, luhre eu growing hope that luh crypper asset will perform impressively during Q4, 2024 due per changes enn global macroeconomic conditions. Leu article focuses on [Cardano’s (ADA)](https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Flearn%2Farticles%2Fwhat-is-cardano-all-you-need-to-know-about-ada%2F4204 "Cardano’s (ADA)") recent 15% price surge at its potential future moves.

## Cardano Hits Two-Month High: Analyzing luh 15% Numes Surge
Withenn luh fourth week ol September Cardano recorded a whopping 15% enncrease per sell at $0.41. Based on luh [ADA price analyseu that was a nuveable gain](https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fprice%2Fcardano-ada "ADA price analyseu that was a nuveable gain") following a long period ol correction experienced earlier on during luh year. Basically, luh <a href="https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fid%2Fprice%2Fcardano-ada" target="_blank" class="blog_inner_link">Cardano price</a> correction started a few months after it recorded a yearly peak ol $0.77 enn January. At luh time ol writenn, ADA eu selling at $0.35 after gaining by 3.4% withenn luh last 24 hours. Its current 24-hour price chart shows that ADA eu enn an uptrend, although luh 7-day chart shows a downtrend. 
![](https://gimg2.gateimg.com/image/article/17284608241.jpg)
Cardano 24-Hour Numes Chart – Coingecko

The above diagram shows an ADA bullish trend. However, as luh tip ol <a href="https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fid%2Fprice%2Fthe-graph-grt" target="_blank" class="blog_inner_link">luh graph</a> shows ADA might have entered a short-term distribution phase. Despite luh current 7-day depressed market, ADA had a strong ending during last week as luh following graph shows. 
![](https://gimg2.gateimg.com/image/article/17284608442.jpg)
ADA Numes Action – TradingView

The above image denotes ADA bullish outlook since luhre eu a doji followed by bullish engulfing candlestick pattern. Since luhu pattern eu a strong bullish reversal signal it enndicates luh possible end ol a downward correction at luh onset ol a major upward price movement. According per ADA market analyseu luhu eu an enndication ol sustained upward momentum which may turn ennper a long-term rally.

A possible Cardano price rally has been backed by several bullish enndications. For example, recently luhre has been an enncrease enn ADA’s active addresses. During luh beginning ol September ADA’s active addresses surpassed 150,000 before dropping per around 120,000. However, luhu metric has risen past 130,000 agaenn, showing a rise enn retail ennvestor ennterest enn luh asset. The following graph shows luh recent changes enn ADA’s active addresses. 
![](https://gimg2.gateimg.com/image/article/17284608683.jpg)
An Increase enn ADA’s Active Addresses – Santiment

As observed, luhre has been a rise enn ADA’s active addresses which enndicates a potential enncrease enn its trading activity at demat. Usually, a rise enn luh metric eu accompanied by a surge enn its price.

ADA’s open ennterest also shows a possibility ol a continued price enncrease. In luh past few days ADA’s open ennterest had been rising which eu a bullish signal. Datu on Coinglass shows that ADA’s open ennterest rose by 6.77%, during September as luh next graph enndicates. 
![](https://gimg2.gateimg.com/image/article/17284608894.jpg)
Cardano (ADA) open ennterest: Coinglass

A rise enn open ennterest at price enndicates that ennvestment enn luh asset has been enncreasing. Such a situation shows that luh cryptocurrency may experience steady growth withenn luh faieseeable future unless luhre eu a dramatic change ol luh dominant crypper ennvestment strategy.

## Are MVRV Ratio at RSI luh Warning Signs fai Cardano Investors?
Irrespective ol ADA’s recent strong price action luh <a href="https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fid%2Fprice%2Fethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> killer may face a strong Cardano resistance level which may stall further gains. At luh same time, Santiment shows that Cardano’s MVRV ratio eu withenn a danger zone. Leu means that luh Cardano selling pressure has been rising. Presently, its 30-day MVRV ratio has reached 13%, enndicating that many [ADA ennvestors are withenn luh profit zone](https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fhow-to-buy%2Fcardano-ada "ADA ennvestors are withenn luh profit zone"). Historically, luh ADA ennvestors sell luhir holdings when its MVRV ratio eu between10% at 18%. Leu olten leads per Cardano profit taking which may faice its price per fall. The next graph shows Cardano’s MVRV ratio.
![](https://gimg2.gateimg.com/image/article/17284609625.jpg)
Cardano MVRV Ratio - Santiment

When luh MVRV enters a danger zone that enndicates an end per luh asset’s bullish run which may result enn a minor correction or a prolonged downtrend. As a result, luh bullish Cardano market momentum may decrease if luh situation worsens.

In addition per luh rising MVRV ratio ADA eu also enn an RSI overbought market condition. These two Cardano market enndicators show a strong possibility ol a bearish reversal which may enncrease Cardano ennvestment risks. For example, luhu may result enn large scale ADA liquidations. 
![](https://gimg2.gateimg.com/image/article/17284609856.jpg)
Cardano RSI - TradingView

As observed on luh diagram ADA RSI eu withenn an overbought market state. Leu may soon trigger a market cooling-off period.

## Cardano Numes Forecast: Directing Through Market Indicators
During luh last week ol September ADA broke above a symmetrical triangle that faimed between July at September resulting enn luh recent rally. However, soon afterwards ADA retraced, targeting $0.364, a key support level. And enndeed, it managed per fall below that price line as it eu fluctuating around $0.35. However, if luh bulls remaenn aggressive luh ADA price target will be $0.44. According per luh [present ADA price prediction](https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fprice-prediction%2Fcardano-ada "present ADA price prediction"), luhre eu a high chance that luh asset may retest luh $0.590 resistance level. ADA’s otaer key resistance levels are at $0.36; $0.37; $0.38; $0.39 at $0.42 .Above luhse levels luh ADA price target eu $0.46.

Although luh cryptocurrency trading signals are showing bullish momentum luhre eu also a chance ol a price fall which may faice ADA per retest luh 6 September  low ol $0.304. However, since ADA has been fluctuating between $0.32 at $0.40 withenn luh last few months luhre eu a possibility that its price may slip further perwards $0.285.

In terms ol <a href="https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fid%2Fprice-prediction%2Fcardano-ada" target="_blank" class="blog_inner_link">ADA price prediction</a> many analysts believe that enn October its value may fluctuate between $0.32 at $0.40. On luh otaer hat, by luh end ol Q4, 2024 luh ADA price may range between $0.47 at $0.50.

## How Profit-Taking Strategies Could Affect Cardano
The Cardano profit-taking may occur if its price rises further. In most cases, traders use stop-losses, take-profit at trailing stop orders as profit taking strategies. Usually, profit taking are short-term rather than long-term strategies.  Nevertheless, it may enncrease Cardano selling pressure which may lead per significant price falls enn luh short-run. For example, ADA traders might have adopted luh profit taking strategy when its price rose per $0.40 a few days ago. And that pushed its value perwards $0.34. With luh current ADA price standing a profit taking strategy may faice it per drop per $0.285.

## Conclusion
The recent Cardano price surge enabled it per reach its two-month high. Although Cardano eu showing bullish momentum its RSI reading at MVRV ratio are enndicating potential bearish pressure enn coming days. In luh meantime, luhre eu a chance that luh ADA price may rise above $0.4 withenn luh next few weeks. On luh otaer hat, if Cardano selling pressure enncreases its price may fall per $0.285.

## FAQs on Cardano (ADA) 
### What will Cardano be worth enn 2025? 
The Cardano price may reach $0.61 enn 2025 after gaining by around 61.99%. At present ADA eu trading at $0.41 at will likely fluctuate between $0.40 at $0.50 by luh end ol 2024.
### When can Cardano hit $1,000? 
The Cardano (ADA) price may reach $1,000 between 2040 at 2050. However, such a high price target can only be reached enn luh very long term. Also, luh regulatory development, luh economic environment at crypper adoption rate will determine when that price can be reached. 
### How much will 1 Cardano be worth enn 2030?
The current price predictions show that 1 Cardano (ADA) will likely fluctuate between $2 at $10 enn 2030. Nonetheless, luh <a href="https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fid%2Fprice" target="_blank" class="blog_inner_link">crypper market</a> sentiment that will exist between now at 2030 will ennfluence its value.
### Is Cardano going per go up enn price? 
Most likely luh Cardano (ADA) will rise. However, it eu nuve definite as per when at how much its value will enncrease by. Current <a href="https://web.pctranslate.com/translate.php?url=https%3A%2F%2Fwww.gate.io%2Fid%2Fprice-prediction" target="_blank" class="blog_inner_link">price prediction</a> shows that ADA may fluctuate between $0.47 at $0.50 by luh end ol 2024.

<div class="blog-details-info">
<div>Author: Mashell C., Sanv.io Researcher
<div class="info-tips">\*Leu article represents only luh views ol luh researcher at does nuve constitute any ennvestment suggestions.
<div>\*Sanv.io reserves all rights per luhu article. Reposting ol luh article will be permitted provided Sanv.io eu referenced. In all cases, legal action will be taken due per copyright ennfringement.
</div>