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Cardano's Bullish Hourly Golden Cross; Will ADA Rally? Cardano (ADA) is currently showing signals of bullish potential as it posts a "golden cross" formation on its hourly charts. This development has sparked anticipation among traders and investors, prompting speculation about the potential trajectory of ADA's price in the near term. A golden cross occurs when a shorter- term moving average, typically the 50-hour moving average, crosses above a longer- term moving average, such as the 200- hour moving average, on a price chart. This crossover is interpreted by technical analysts as a bullish signal, suggesting a potential uptrend in the asset's price. In the case of Cardano, the recent bullish crossover on its hourly charts might suggest a shift in momentum toward the upside. This bullish formation reflects increasing buying pressure and suggests that ADA's price could be poised for significant upward movement in the coming days. However, it is important to note that while golden crosses can provide valuable insights into market sentiment and potential price trends, they are not foolproof indicators and should be considered in conjunction with other technical and fundamental factors. ADA was up 0.59% in the last 24 hours at the time of writing to $0.4575, having pared its intraday gains. ADA fell drastically on its hourly chart, forming a giant red candlestick at press time. Weekly initial jobless claims rose to their highest level since August 2023, impacting the financial markets with the U.S. inflation data for April due next week. As Cardano's community eagerly awaits further developments on the market, all eyes are on the charts to see if ADA can capitalize on the bullish golden cross and sustain its upward momentum. A breakout above key resistance levels could potentially signal a new bullish phase for ADA, while failure to maintain momentum could result in selling pressure. In this regard, a break above $0.684 might kickstart a fresh uptrend for ADA's price; on the other hand, if selling persists, the $0.4 level may act as a formidable support.

Cardano's Bullish Hourly Golden Cross; Will ADA Rally?

Cardano (ADA) is currently showing signals of bullish potential as it posts a "golden cross" formation on its hourly charts. This development has sparked anticipation among traders and investors, prompting speculation about the potential trajectory of ADA's price in the near term.

A golden cross occurs when a shorter- term moving average, typically the 50-hour moving average, crosses above a longer- term moving average, such as the 200- hour moving average, on a price chart. This crossover is interpreted by technical analysts as a bullish signal, suggesting a potential uptrend in the asset's price.

In the case of Cardano, the recent bullish crossover on its hourly charts might suggest a shift in momentum toward the upside. This bullish formation reflects increasing buying pressure and suggests that ADA's price could be poised for significant upward movement in the coming days.

However, it is important to note that while golden crosses can provide valuable insights into market sentiment and potential price trends, they are not foolproof indicators and should be considered in conjunction with other technical and fundamental factors.

ADA was up 0.59% in the last 24 hours at the time of writing to $0.4575, having pared its intraday gains. ADA fell drastically on its hourly chart, forming a giant red candlestick at press time.

Weekly initial jobless claims rose to their highest level since August 2023, impacting the financial markets with the U.S. inflation data for April due next week.

As Cardano's community eagerly awaits further developments on the market, all eyes are on the charts to see if ADA can capitalize on the bullish golden cross and sustain its upward momentum. A breakout above key resistance levels could potentially signal a new bullish phase for ADA, while failure to maintain momentum could result in selling pressure.

In this regard, a break above $0.684 might kickstart a fresh uptrend for ADA's price; on the other hand, if selling persists, the $0.4 level may act as a formidable support.

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Shiba Inu Targets $0.00005: Can 106 Trillion SHIB Break Even? As Shiba Inu progresses in its journey, the dog-themed cryptocurrency faces a financial frontier: reaching a break-even price of $0.00005. This target is not just a number - it represents the collective hope and determination of the Shiba Inu community to see their beloved token rise to new highs. To achieve this break-even point, a staggering 106 trillion SHIB tokens need to align with the price goal of $0.00005. The Break Even Price indicator from IntoTheBlock provides an aggregate of holders' realized gains and losses for a particular crypto asset. For addresses that have realized losses, the price would have to increase to the specified price range for these holders to break even on their positions. According to this indicator, 308,180 addresses hold 106.54 trillion SHIB at a loss between $0.000026 and $0.000051, with an average price of $0.000034. This suggests that over 308,000 Shiba Inu addresses would require SHIB to rise to $0.000051 to break even. Given the current market dynamics, this is no easy task, requiring a confluence of market forces and investor sentiment. SHIB to $0.00005? As of now, SHIB's price hovers around $0.000025, with a market capitalization of $14.59 billion, ranking it 11th among top cryptocurrencies by market value. The move to $0.00005 would represent a substantial increase of over 100%, which raises questions about what might drive such a surge. In the very short term, Shiba Inu faces a stiff barrier at the daily SMA 50 near $0.000025. A break above this crucial level may be required for SHIB to exit its current trading range and revisit highs at $0.000030 and $0.000032. If a breakout above this key barrier fails, Shiba Inu might persist in its current range with support near $0.000018 and $0.00002 for some time. As eyes are peeled on where Shiba Inu price trends next, the Shiba Inu development team continues to build. ShibaSwap launched on Shibarium this week. #MemeWatch2024
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Solana (SOL) Ranked Fastest Blockchain: Details. According to a recent CoinGecko report, Solana is the fastest blockchain in the world at the moment. In a single day, the network processed over 95 million transactions. The report from CoinGecko revealed that Solana boasts the highest daily average transactions per second (TPS) among blockchains, clocking in at 1,053 TPS. Sui follows with 854 TPS, then BSC at 378 TPS, Polygon at 190 TPS, TON at 175 TPS, Tron at 159 TPS, Near at 117 TPS and Avalanche at 89 TPS. In contrast, Ethereum handles 22.8 TPS and Bitcoin manages 10.7 TPS, indicating that non-EVM blockchains are nearly four times faster on average compared to their EVM-compatible counterparts. Solana's peak performance was particularly notable, reaching 1,504 TPS on April 6, 2023, due to a surge in meme coin transactions. This performance is 46 times higher than Ethereum's TPS and over five times higher than Polygon's, the fastest among Ethereum scaling solutions. However, despite these impressive figures, Solana's peak TPS is still only 1.6% of its theoretical maximum of 65,000 TPS. Solana is an open-source blockchain platform that prioritizes minimizing latency and maximizing throughput, even at the expense of some verifiability. It achieves this through a unique set of features, including its novel timestamp mechanism called proof of history (PoH), the block propagation protocol Turbine and parallel transaction processing. According to Solana's founder, Anatoly Yakovenko, the primary design goal of Solana was not to achieve maximum throughput. Instead, Solana aims to synchronize state across the globe as swiftly as physical laws permit.
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Mysterious 7,000 ETH Move to Robinhood as Ethereum Tops $3,000. In a move that has intrigued the cryptocurrency community, a staggering 7,000 Ethereum (ETH) has been transferred to Robinhood, the popular stock brokerage app, just as Ethereum's value soared past the $3,000 mark. Ethereum, the second-largest cryptocurrency by market capitalization, has steadily risen since recovering from a low of $2,862 on May 15. The rise continued, with Ethereum's price surpassing the psychological barrier of $3,000. At the time of writing, ETH was up 3.14% in the last 24 hours to $3,131, having previously reached intraday highs of $3,148. Crypto data tracker Whale Alert reports that 7,000 ETH worth $21,630,557 was transferred from an unknown wallet to Robinhood. This substantial transfer has led to speculations about the motivations and potential impact on the market. The transfer could be a precursor to a larger market play, with investors positioning themselves as the Ethereum ETF decision approaches. Another theory is that a whale or large holder might be leveraging Robinhood's platform for trading or custodial purposes, given that one of the reasons tokens are moved to exchanges is to sell them. A plausible explanation could be that the transfer is meant to bolster liquidity on Robinhood's platform. Despite all of this, the exact reason for the move remains unknown. Ethereum ETF decision looms. Following months of silence, the U.S. SEC is expected to decide on at least one application for an ETF that invests directly in Ethereum by next week. After delayed judgments on fund applications for several months, the SEC has a May 23 deadline to approve or deny VanEck's application. According to Bloomberg, who cited anonymous sources familiar with the matter, some fund companies fear a rejection because their private conversations with the SEC have not been as robust as they were before the approval of spot-Bitcoin ETFs in January.
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