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The Cardano price surged 13% in the last 24 hours to trade at $1.05 as of 3.50 a.m. EST on trading volume that soared 23% to $1.61 billion.

Cardano’s price started going up on January 1, likely as part of Bitcoin’s own surge. Initially, ADA ended 2024 with the price sitting just above the support at $0.85. As the surge kicked off, the coin encountered a resistance which stopped it from reaching $1, but it finally managed to surge through this barrier only a few hours ago.

Its increase started alongside Bitcoin’s recovery, but it is also worth noting that the project kicked off the new year with a creative competition, inviting community members to show their design skills and creativity and win prizes.

And, while the Bitcoin price has encountered a strong resistance at $97.5k, ADA has been going strong ever since the new year started.

Cardano Price Prediction

Right now, the Cardano price is showing signs of slowing down, suggesting that the price of $1.05 might be a strong barrier that could give the project some trouble.

Its Bollinger bands have seen a massive widening over the past 10 hours or so, suggesting a strong interest from the traders, as well as an increase in activity. This was also confirmed by a 23% surge in its daily volume, suggesting that the traders are not only interested but bullish on the 9th-largest crypto by market cap.

The price has been driving the upper band further up, mostly fluctuating between it and the middle line between the two bands. However, it is worth noting that it did not drop to the middle line once in the past 10 hours, usually stopping above it before its price returned to the upper band, driving it further up.

This suggests that the traders are reacting quickly to any correction triggered by minor resistances that ADA had encountered on its way up, and even the one at $1.05 has not pushed its price too far down.

The project’s Relative Strength Index (RSI) value shows this as well, displaying trader activity after the RSI was pumped to the overbought zone. Typically, in a less bullish scenario, traders would take the RSI reaching the value of 70 as a signal to sell, knocking down its value to either the neutral zone of 50 or maybe even the oversold zone at 30.

ADA, however, saw the RSI skyrocket past the value of 80, only to drop to 60 before going back up and fluctuating around the value of 70. This suggests a strong bullish sentiment which could help Cardano break through the value of $1.05 with another strong push.

At the very least, it shows that day traders have been active with micro-trades, buying and selling ADA while its price moved up and down by only a few cents, especially in the last few hours. But, if the project fails to see another big push and turn $1.05 into a support, its price could end up being rejected in the hours to come.

Promising Alternative To Cardano

While Cardano has the potential to continue going up, traders looking for diversification options might consider the blockbuster Wall Street Pepe (WEPE) presale.

WEPE is a meme coin inspired by the Pepe meme and one of the fastest-growing ICOs of 2024. It has been in presale since early December, and it just hit $40 million raised as of January 3.

Its presale kicked off during a highly bullish period in the crypto industry, and it followed another major Pepe-inspired meme coin, Pepe Unchained, which raised $74 million around the time WEPE was starting out.

This brought countless investors to the project, but they stayed for WEPE’s own goal, which is to create an insider group for retail traders.

It came to this idea after watching crypto whales who stick to their insider groups, where they get access to the best tools, strategies, and investment tips, not sharing any of it with “the small guy,” who could really use help.

So, WEPE decided to create its own group, where it would offer the hottest tips, tricks, signals, big brain calls, strategies, and other advantages. All you need to do to join is buy some of its tokens, and the best time to do so is right now, while its price is still very low.

YouTuber ClayBro, who has over 134k subscribers, recently made a video in which ChatGPT predicted that WEPE has the potential to see anywhere between 10x and 100x gains.