Cardano's Big Intraday Gain: Is 1.62 USD Within Reach?USDT TRC20 Trust Wallet Pi Network Breaks Through - What's Next?

In the volatile world of cryptocurrency, Cardano (ADA) and Pi Network (PI) have recently caught the attention of investors and enthusiasts alike. Let's take a closer look at the current situations of these two digital assets and explore their potential futures.

Cardano's Impressive Surge

Cardano (ADA) has been staging a remarkable comeback. In recent days, it has seen a substantial intraday gain, with prices soaring. Just a short while ago, ADA's price was close to 0.74 dollars, marking a 27% - 30% increase in just a few days. Its market capitalization has reached 260.1 billion dollars, and it's on the verge of overtaking Tron in the rankings.

The trading volume and price of ADA have been rising in tandem, reaching 0.86 dollars at one point. Despite some skeptical voices on the internet, derivative data indicates that market sentiment continues to improve. The futures trading volume has climbed to 45.3 billion dollars, and the open interest nominal value is steadily increasing. This shows that the market is bullish on ADA's future.

From a technical analysis perspective, ADA's price has the potential to reach new heights. It has been trading around a support area of 0.54 dollars, which has previously triggered strong rebounds. Well - known analyst Ali Martinez pointed out that ADA is currently moving within a narrow price channel. And now, as the technical form improves and market sentiment warms up, ADA has become one of the most promising digital assets for price increases this week.

Analysts have identified several key resistance levels for ADA, including 0.86 dollars, 1.62 dollars, and 2.65 dollars. Given its recent performance and positive market sentiment, the question on everyone's mind is whether ADA can reach the 1.62 - dollar mark. While it's not guaranteed, the current trends suggest that it's within the realm of possibility. If the positive momentum continues, with further increases in trading volume and more positive market news, ADA might just break through these resistance levels one by one.

FAQ: What does it mean when the futures trading volume and open interest nominal value of ADA are increasing?When the futures trading volume and open interest nominal value of ADA are increasing, it indicates that more market participants are getting involved in ADA's futures trading. This could mean that they are either bullish on ADA's future price increase (going long) or bearish and expecting a price drop (going short). In the current situation, the increase in these two indicators along with the rising price shows that the market is generally bullish on ADA.

Pi Network's Breakthrough and Future Outlook

Pi Network (PI) has also been making waves in the cryptocurrency space. Its price has been showing significant fluctuations recently. As of a certain point, the price of PI was US$1.47, with a 24 - hour trading volume of US$1.93 billion.

From a technical analysis point of view, on the 15 - minute chart, PI is forming a round - bottom pattern, which is a typical bullish signal. The Relative Strength Index (RSI) is above 50, indicating strong buying interest. Additionally, the MACD histogram shows green bars, supporting the bullish momentum. If the round - bottom pattern is completed, PI may set a new high. A closing price above 0.80 dollars could trigger a rapid rise to 1 dollar. Once PI breaks through the 1 - dollar mark, reaching 2 dollars becomes a realistic target.

One of the reasons for PI's potential undervaluation is the confusion about its circulating supply. Market data shows that 6.35 billion PI are in circulation, but only 554 million PI are truly unlocked and available for trading. When the market realizes this significant difference, the price of PI could skyrocket, perhaps even increasing tenfold.

However, there are also uncertainties. Pi Network has not yet been listed on major exchanges. The news of a potential listing on Binance or significant developments in its ecosystem could act as key catalysts for its price increase. But until such events occur, the price movement of PI remains somewhat speculative.

FAQ: Why is the confusion about the circulating supply important for PI's price?The confusion about the circulating supply is important because the actual tradable supply is much smaller than the reported circulating supply. In the cryptocurrency market, when the supply is limited and the demand is high, the price tends to increase. Once the market realizes the true situation of PI's tradable supply, the demand may surge, driving up the price.

Overall Outlook for the Cryptocurrency Market

Cardano and Pi Network are just two examples of the dynamic nature of the cryptocurrency market. In general, the market is influenced by a variety of factors, including market sentiment, technological developments, regulatory news, and macro - economic conditions.

Projects with real - world applications and strong institutional support are more likely to have long - term development potential. For example, Cardano's strong rebound shows that despite the negative voices on the internet, the market is still optimistic about its future based on its technical improvements and market sentiment. Similarly, Pi Network's potential lies in its technological features and possible future developments in its ecosystem.

However, investors should always exercise caution. The cryptocurrency market is highly volatile, and prices can change rapidly. It's important to do your own research (DYOR) before making any investment decisions.

FAQ: What should investors do before investing in cryptocurrencies like Cardano and Pi Network?Investors should conduct in - depth research. This includes understanding the technology behind the cryptocurrency, its use cases, the team behind the project, market trends, and regulatory environment. They should also assess their own risk tolerance and investment goals. Only after comprehensive research and careful consideration should they make investment decisions.

In conclusion, Cardano's impressive intraday gain makes the 1.62 - dollar mark seem within reach, but it still faces resistance levels. Pi Network's breakthrough, although full of potential, is also subject to various uncertainties. The future of these two cryptocurrencies and the broader cryptocurrency market remains exciting and unpredictable.