Cardano Price Prediction as ADA Overtakes Dogecoin in Coin Rankings – Can ADA 10x From Here?

cryptonews.com:

The price of Cardano (ADA) has dipped by 0.5% in the past 24 hours, with its slippage to $0.309603 coming as the wider cryptocurrency market also wobbles by roughly the same percentage today.

ADA is also down by 1% in the past week, yet the altcoin is up by 12% in the last 30 days and by 25% since the beginning of the year.

Such gains have enabled Cardano to overtake Dogecoin (DOGE) in terms of capitalization, with ADA now the eighth-biggest in the market, behind  Lido Staked Ether (STETH).

And with Cardano continuing to enjoy steady development as a platform, ADA is likely to witness further gains over the next few months.

ADA's chart suggests that the coin may be close to another rally, with its relative strength index (purple) jumping up from 50 and looking set to rise higher.

Complementing this change is ADA's 30-day moving average (yellow), which has stopped its fall from the past few days and has now levelled off, looking as though it too could begin rising again.

This suggests that, after a fairly underwhelming week, ADA is about to witness another bounce, potentially pushing it back up $0.325 in the near future.

That said, the altcoin's support level (green) remains relatively weak, with its failure to rise consistently in the past fortnight implying that we could just as likely see a few falls.

Despite this uncertainty, ADA does remain in a largely positive position overall, with the altcoin now the eighth-biggest in the market, overtaking DOGE.

This flippenning is partly because DOGE itself has had a fairly disappointing 2023, yet there are clear signs that Cardano is growing as a platform, and that ADA's trajectory is upwards.

For example, recently released data has shown that Cardano outperformed all other layer-one