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Have you ever wondered which of these three cryptocurrencies has the best prospects in 2024?

Cardano price has been under intense pressure in the past few months and is slowly nearing its all-time low. ADA, its token, has dropped in the past three consecutive months and was trading at $0.3305 on Saturday. If this trend continues, the coin could drop to its record low of $0.2400 soon.

Cardano's re-test of this level and how it goes might be key to its short-term price action.

The crypto market has witnessed a substantial surge in the Cardano trading volume over the last 24 hours. Yet, the blockchain's native token, ADA, has failed to deliver a proportional price increase.

Cardano (ADA) gains traction in the cryptocurrency market, traders and investors are keenly watching to see if it can sustain its upward momentum and reach the $0.50 mark. Currently priced at $0.3335, ADA has experienced a notable 3.80% increase over the past few hours, suggesting a potential bullish revival.

Cardano's Lace wallet adds Chang-ready features, advancing the shift to decentralized governance as the network prepares for the hard fork.

Cardano, represented by the ADA token, is currently priced at around $0.326 with a market capitalization of approximately $11.7 billion. The cryptocurrency has a trading volume of $241 million and a circulating supply of nearly 36 billion ADA tokens.

Bitcoin bulls are holding on to the $55,500 support, but an increase in futures open interest and a death cross on the BTC chart have traders worried that further downside is in store.

Despite whispers of Cardano being a "dead coin," its foray into Artificial Intelligence could ignite a renaissance.

Sellers are keeping the pressure on, according to CoinMarketCap.

The Bitcoin crash below $60000 this week has raised Fear, uncertainty, and doubt (FUD) among market participants. While the current consolidation trend projects no clear sign of bottom formation, altcoins like Polygon (MATIC), Pepe coin (PEPE), and Cardano (ADA) in the oversold state hold a high potential for a price reversal.

The trading volume of derivatives on Cardano (ADA) has skyrocketed by 68% in the last 24 hours, according to data from CoinGlass. Thus, as perpetual futures data across all major crypto exchanges states, the volume of ADA trading in this particular space has reached $391 million to date.

The crypto market has been grappling with a sluggish trend over the past few weeks. The community has not witnessed major movements from the most prominent coins.

As of August 16, 2024, Cardano's price stands at approximately $0.3348, reflecting a 1.8% decline over the past 24 hours. This downturn is part of a broader trend affecting the cryptocurrency market, driven by recent declines and shifting investor sentiment.

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Solana. Ethereum (ETH) Ethereum continues to struggle above the key support at $2,400 and fell by 2.3% this week.

Cardano price broke below a crucial support level on August 15, confirming a bearish bias. Three support levels were in place to cushion the price of ADA from a steep fall, with bears already conquering one of them.

Over the past 24 hours, the Cardano price has mounted a recovery, now down just 0.06% after a significant decline.

Mixed signals on Cardano's charts, but the market trend remains somewhat clear.

Cryptocurrencies have diverged from American stocks, leading to substantial losses to Bitcoin and altcoin holders. Bitcoin has continued consolidating below $60,000 while the total market valuation of all coins has dropped to $2 trillion. This price action has led to worse performance of most altcoins.

Cardano's blockchain is undergoing a critical transformation with the introduction of the Chang hard fork. This upgrade is designed to enhance the platform's decentralized governance features, which are central to Cardano's long-term vision.

An important on-chain metric for Cardano (ADA) recently hit an all-time high (ATH), highlighting the confidence in the crypto token despite its underperformance. This and several other bullish metrics suggest that a significant rally may be on the horizon for Cardano.

Cardano (ADA) has been experiencing a rough patch lately, but some experts believe it could soon make a dramatic comeback. Nick Valdez, a well-known analyst from the Discover Crypto channel, has put forward an intriguing prediction: ADA might surge as high as $5.

Cardano (ADA) was among the standout performers in the 2021 bull market, but it has struggled to achieve significant price gains in the current cycle.

Cardano, the prominent blockchain platform known for its scientific approach and strong community, is facing significant challenges as it grapples with stagnant user growth and a sharp decline in development activity. According to recent data, the network is experiencing a slowdown in its current cycle, struggling to attract new users while competitors like Solana and Ethereum make notable strides.