Cardano (ADA) Price Prediction: Will ADA Skyrocket Past Resistance Levels As Other Altcoins Boom?
Cardano (ADA) remains one of the most exciting tokens on the market and its technical developments have really set itself apart from other major tokens. It has also been doing well in the bull run and there is potential for it to break past resistance levels. At the same time, there are other tokens that serve as good alternatives to ADA.
Some of these tokens are 5th Scape (5SCAPE), Smog (SMOG), and Frog Wif Hat (FWIF). We offer an extensive explanation of these tokens, describing just why they have the potential to undergo a big boom.
What you'll learn 👉
Can ADA Surge Past A Major Resistance Level?
After a consolidation phase above the $0.580 mark, Cardano demonstrated a significant upward trend. ADA’s price successfully surpassed resistance levels at $0.620 and $0.680, entering a bullish territory in line with other major cryptocurrencies such as Bitcoin and Ethereum.
The ascent continued beyond the $0.700 threshold, encountering resistance around the $0.80 mark, reaching a peak at $0.8097 before initiating a corrective phase below $0.750.
The correction extended below the 23.6% Fibonacci retracement level from the recent surge, spanning from a low of $0.5754 to a high of $0.8097. Currently, ADA is trading below $0.7250 and the 100-hour simple moving average.
A crucial bullish trend line, coupled with the 50% Fibonacci retracement level from the aforementioned surge, offers support at $0.6880 on the ADA/USD 4-hour chart.
The $0.680 support zone appears resilient, with potential resistance at $0.7220. A breakthrough beyond this level could see ADA challenging $0.740, paving the way for a potential test of the pivotal $0.800 barrier. Surpassing $0.800 might trigger a significant rally, potentially propelling prices towards $0.8250 or even higher to $0.850.
5th Scape Is A VR And AR Essential
5th Scape (5SCAPE) is dedicated to exploring the realms of Augmented Reality (AR) and Virtual Reality (VR), aiming to pioneer the “world’s first AR & VR ecosystem connecting the brightest minds.” Their expansive vision encompasses the development of VR games, hardware, and animations, supported by a meticulous strategy.
The success of 5th Scape hinges on ensuring widespread accessibility and compatibility with existing headsets and hardware. To achieve this, the team is committed to developing a range of VR games compatible with popular headsets like Oculus Rift and Meta Quest 3. Additionally, they have plans to design a proprietary VR headset and AR gaming chair once they establish a firm footing in the industry.
Regarding specific VR game development, the team has unveiled several titles in progress, including Cage Conquest, Epic Cricket Arena, Immersive Kickoff, Archery Master, and Thrust Hunter. Cage Conquest holds particular significance as a combat sports-based game slated for initial release, with a tentative launch date in the second quarter of 2024.
The project’s native token, 5SCAPE, serves as the cornerstone of the ecosystem, acting as essential fuel for various interactions. It functions as the universal currency across all 5th Scape games, hardware products, and the developer marketplace. Token holders enjoy exclusive discounts compared to other payment methods, making it the preferred mode of payment for accessing games and conducting in-game transactions.
5SCAPE token holders also have the opportunity to stake their tokens, earning rewards through active project engagement. Furthermore, the 5th Scape team aims to empower token holders by enabling them to vote on fund distribution for marketplace projects, fostering community involvement in critical project development decisions.
In terms of tokenomics, 5SCAPE has a total token supply of 5.21 billion. The 5th Scape presale aims to distribute 80% of the total supply, with a fundraising target of up to $15 million. The presale is conducted in 12 stages, with the current price set at $0.00215 and the listing price at $0.83. To date, it has raised over $1.5 million.
Smog (SMOG) Will Rule Over Other Meme Coins
Smog (SMOG) emerges as the latest contender among leading tokens, swiftly gathering substantial momentum despite its recent introduction. This Solana-based meme coin debuted directly on decentralized exchanges, swiftly achieving a $2 million market cap on Jupiter. The anticipation surrounding its upcoming airdrop further enhances its potential.
Drawing inspiration from successful projects like Bonk, Myro, and others that have witnessed significant growth, SMOG stands out for its rapid rise, surpassing the achievements of these established meme coins. Notably, SMOG’s decentralized exchange trading volumes have recently exceeded those of Uniswap.
With its impressive growth trajectory, SMOG has the potential to surpass projects like SPONGE, which experienced a 50x increase from $2 million to $100 million. Positioned as one of the most promising cryptocurrencies for investment, SMOG, combined with the imminent crypto airdrop, has the potential to emerge as the premier meme coin of 2024.
FrogWifHat Is The Quirkiest Meme Coin Yet
Frog Wif Hat (FWIF), a token that seems to have appeared unexpectedly, has caught the attention of the crypto community with its sudden emergence. This unique meme coin, known for its “aveg baguette” tag, features a visually striking depiction of a frog holding a baguette, naturally drawing significant interest among enthusiasts of meme coins.
Over the past year, meme coins have seen a resurgence, and Frog Wif Hat is poised to ride this wave. The titular character, consistently depicted with a beret and clutching a baguette, exudes a distinctive moodiness.
However, beyond its meme appeal, this token harbors deeper ambitions. The team has laid out a roadmap aimed at propelling it towards a coveted $100 million market cap, outlined across various phases: Aperitif, focused on making a substantial impact on decentralized exchanges (DEXs) and building a strong social media presence; Hors d’oeuvre, which prioritizes marketing efforts while strengthening its presence on the Solana network, all with the goal of achieving the impressive $100 million market cap; and Bon appétit, which involves the creation of NFT art and adding an artistic dimension to the project.
Regarding the token supply, 100% is currently in circulation, amounting to 1 billion in total supply. The smart contract has undergone an audit to ensure security, and FWIF tokens are available on Uniswap, a leading decentralized exchange.
Conclusion
Although currently flying under the radar, the potential of 5th Scape (5SCAPE), Smog (SMOG), and Frog Wif Hat (FWIF) is immense. We highly recommend those interested check out these tokens and actively participate in the projects via their respective social media platforms to learn more.
Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
