The crypto market bounced back, with Bitcoin jumping to $117,000 from this month’s low of $112,000. Other top cryptocurrencies like Cardano (ADA), Pendle, Aerodrome Finance (AERO), Stellar (XLM), and Chainlink (LINK) were some of the top gainers.
Cardano price prediction
Cardano price has rebounded in the past few weeks, moving from the year-to-date low of $0.5055. It rose to a high of $0.7890, up by 55% from its lowest point this year.
Cardano price rebounded as the Glacier airdrop started, with millions of users claiming their NIGHT allocations. It also jumped after Donald Trump’s executive order allowing US retirement funds to invest in cryptocurrencies.
The daily chart shows that the ADA price has moved above the 50-day and 100-day Exponential Moving Averages (EMA). It has also likely started forming the third phase of the Elliot Wave pattern, which is usually the most bullish.
Therefore, the coin will likely continue rising, with the next price target being at $0.8634, the highest swing in May, and the neckline of the double-bottom pattern.
A move above that level and the year-to-date high of $0.9350 will confirm the Elliot Wave formation and lead to more gains, potentially to the resistance point at $1.
Aerodrome price forecast
Aerodrome Finance is a top player in the decentralized exchange (DEX) industry. It is the biggest DEX platform on Base, the biggest layer-2 network in the crypto industry that Coinbase started in 2023.
A look at DeFi Llama data shows that Aerodrome’s network handled over $675 million in volume in the last 24 hours and $20 billion in the last 30 days. This makes it the fifth-biggest platform after Uniswap, PancakeSwap, Fluid, and Raydium.
Aerodrome Finance’s platform will likely continue thriving after the recent launch of The Base App, which introduces features on trading, social networking, and chat.
AERO price has been on an upward trend in the past few months, moving from a low of $0.2850 in April to the current $0.8813. It formed an ascending channel that connects the higher highs and higher lows since April.
AERO has jumped above the 50-day and 100-day Exponential Moving Averages and the 23.6% Fibonacci Retracement level at $0.7600. Therefore, the token will likely continue rising as bulls target the 50% retracement level at $1.3086.
HBAR price technical analysis
Hedera Hasgraph price bottomed at $0.1260, where it formed the highly bullish double-bottom pattern. It then jumped above the key resistance level at $0.2278, the highest point on May 12. This resistance was the neckline of the double-bottom pattern.
Hedera price has retested that level and moved above all moving averages. Therefore, the token will likely continue rising, initially hitting the important resistance level at $0.2977, its highest level in July.
A jump above that level will point to more gains, potentially to the resistance level at $0.3295, which is the target of the double-bottom.
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