The Cardano price dropped 1% in the last 24 hours to trade at $0.3321 as of 03:41 a.m. EST on trading volume that jumped 13% to $186 million.
This comes as Cardano founder Charles Hoskinson challenged the ADA community with a $1 million bounty to hack Lace Paper Wallet. The initiative to hack the wallet contributes to the platform’s security.
The challenge will open until the end of 2024 or until someone successfully claims the bounty by hacking the wallet.
Cardano Price Aims For A Breakout Above The Consolidation Phase
The Cardano price has been trading in a consolidation phase since August 5, within a sideways pattern, as the bulls faced resistance around the $0.34 resistance zone, data from GeckoTerminal shows.
The Relative Strength Index (RSI) trades within the neutral zone, currently at 46, which shows that the asset is poised for a breakout.
Moreover, the Moving Average Convergence Divergence (MACD) also shows signs of a bullish trend, as the MACD trades above the neutral line.
The blue MACD line also crosses above the orange signal line, which represents a bullish crossover.
If the bulls could capitalize on the MACD and the RSI to push the price above the sideways pattern, the price could then soar, as the bulls target $0.40.
Cardano Price Chart Analysis Source: GeckoTerminal.com
However, the price of Cardano still trades below both the 50-day and 200-day Simple Moving Averages (SMAs), which could prompt the bears to take control of the price, as they target $0.40.
Meanwhile, as the ADA price bulls aim for a breakout above the sideways pattern, investors are snapping up the new Solana GameFi token Mega Dice (DICE) .
Influential crypto YouTuber TodayTrader predicts a potential “Easy 100x” return post-launch.
GameFi Sensation Mega Dice Zooms Past $1.7 Million
Mega Dice is shaking up the crypto gaming landscape as it hurtles toward the $2 million mark in funds raised in its ICO.
The project stands out as a top brand in the crypto casino domain, boasting over 10,000 active players monthly and exceeding $50 million in monthly wagering.
Players enjoy over 4,000 casino games and 50 sports and eSports betting options.
DICE will be the leading GambleFi token on Solana and aims to challenge casino sector titan Rollbit Coin.
DICE has seamless integration with the popular TON Wallet on Telegram, making it easier to manage funds.
Token holders also stand to share in the casino’s profits daily through its unique staking system.
To join the presale, you can buy $DICE on the official website here for $0.105266 per token using BNB, ETH, or SOL.
With a price hike coming in about a day, buy soon to secure the best price. You can also earn 10% on any purchases made by investors you refer.
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