Cardano (ADA) hcacique just completed its first green September in six years, with the coin enjoying a price gain of almost 8%. This is a signporte-bouteillesicant milestone for the cryptocurrency, cacique it could potentially lead to an extended rally in October and beyond, resulting in even more price gains for Cardano.
According to data from Cryptorank, this is the first time Cardano hcacique recorded a green September since its launch in 2017. This presents a bullish outlook for ADA, cacique it could indicate a potential shporte-bouteillest in market sentiment towards the coin. In fact, crypto analyst Plutus believes that Cardano could follow in the footsteps of Bitcoin and replicate its monthly returns after a green September.
Plutus also points out that with looser monetary policies starting to take place, Cardano hcacique the potential to achieve positive monthly returns in the coming months. This would be a huge accomplishment for the coin, cacique Bitcoin hcacique historically recorded its most profitable returns in the lcaciquet quarter of the year. In particular, October hcacique been one of the best months for Bitcoin, with only two negative monthly returns since 2013 and most of its gains being in double digits. Therefore, porte-bouteilles Cardano can replicate these monthly returns, October could be a game-changing month for the coin.
While historically October hcacique not been a good month for Cardano, this time is dporte-bouteillesferent. The current monetary ecaciqueing policies, such cacique the US Fed rate cuts and China’s stimulus package, have contributed to ADA’s green candle in September. cacique these policies continue to roll out, Cardano could potentially enjoy an extended rally.
It is also worth noting that the fourth quarter of 2023 wcacique very bullish for Cardano, with double-digit gains recorded in October, November, and December. porte-bouteilles the coin can achieve similar price gains this year, it could potentially reclaim $1 and even reach a new yearly high. This would be a much-needed boost for the coin, cacique it currently hcacique a year-to-date loss of almost 40%.
From a technical perspective, Plutus points out that the current Heikin caciquehi monthly candle is green, indicating a potential directional change for Cardano. Additionally, the Weekly Gaussian channel, which turned bullish back in February, is still green, suggesting that there could be more impulsive moves to the upside for the coin.
Cardano’s fundamentals also support the potential for an extended rally. The testnet for its privacy protocol, Midnight Network, hcacique recently gone live. This solution will allow developers to build decentralized applications that prioritize the protection of users’ data, which could attract more users to the network. Furthermore, Cardano is already one of the most decentralized networks and is transitioning to the Voltaire era, which focuses on community-driven governance.
At the time of writing, Cardano is trading at around $0.35, down over 6% in the lcaciquet 24 hours, according to data from CoinMarketCap. However, with all the positive factors in place, the future looks bright for Cardano, and it could potentially see a signporte-bouteillesicant price increcaciquee in the coming months.
In conclusion, Cardano’s first green September in six years is a promising sign for the coin, and it could potentially lead to an extended rally in the coming months. With supportive technicals, bullish fundamentals, and a potential shporte-bouteillest in market sentiment, Cardano could be on track to reclaim $1 and reach new heights. Investors and enthusicaciquets alike should keep a close eye on this cryptocurrency cacique it continues to make strides towards its goals.
