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Cardano (ADA) Price

How Far Can Cardano Price Rise in November?

Published

4 months ago

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Cardano (ADA) price has significantly increased in the last 24 hours, following a broader market surge. The altcoin’s positive trend comes amid increased investor interest as the cryptocurrency market rallies after the recent U.S. elections. Notably, Cardano’s surge aligns with other altcoins that have also rebounded, strongly eyeing more gain in November and further attracting attention from analysts. 

Will Cardano Price Hit New Peaks in November Amid Major Upgrades?

Cardano’s price has shown strong momentum recently, climbing over 10% in the past month, supported by a positive shift in the broader cryptocurrency market. This surge comes as Cardano launches Node 10.1, a significant upgrade that introduces new governance capabilities and prepares the network for the upcoming Chang 2 hard fork. 

Node 10.1.1 is the first mainnet node to support the Chang 2 inter-era hard fork, marking a crucial step for Cardano’s governance evolution. The release also brings enhanced delegation options, allowing stake pool operators (SPOs) to delegate to pre-defined voting choices.

These advancements have spurred optimism that Cardano’s price could push higher in the coming weeks, as the network solidifies its infrastructure and prepares for new functionalities.

Analyst Predicts 70% ADA Price Rally Surge

Crypto analyst ZAYK Charts has highlighted a potential bullish wave for Cardano, indicating a breakout from a falling wedge pattern on the 1-day chart. This technical formation is often seen as a reversal indicator that ADA could experience significant upward momentum.

According to ZAYK Charts’ projections, the breakout could lead to a 60-70% price increase. This optimistic outlook comes as ADA investors anticipate the next move, with bullish sentiment building around the cryptocurrency.

At the time of writing, the ADA price saw an impressive 5.% increase within the past day, trading at approximately $0.3751. Opening at a low of $0.3525, the ADA gradually gained traction, climbing to a high of $0.3771, marking a significant upward trend in the 24 hours. 

The top altcoin price is eyeing a critical resistance level at $0.38, with bullish momentum suggesting a potential breakthrough. If ADA manages to overcome this barrier, analysts expect the cryptocurrency could challenge a more significant resistance point at $0.75.

The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows a positive crossover. The MACD line (blue) stands above the signal line (orange), indicating growing buying momentum. The histogram has also shifted to green, suggesting bullish momentum may be building up.

How Far Can Cardano Price Rise in November?How Far Can Cardano Price Rise in November?
Cardano Price Chart: TradingView

As Cardano continues to build momentum and adopt new upgrades, it could be on track for notable price growth in November. With promising technical indicators and bullish sentiment, ADA may push toward new highs in the weeks ahead.

 

Frequently Asked Questions (FAQs)

Cardano’s Node 10.1 upgrade, increased investor interest, and a positive market rally are key drivers.

Analysts predict a potential 60-70% rally if ADA breaks through key resistance levels.

It introduces new governance and delegation features, preparing the network for the Chang 2 hard fork.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Analyst Forecasts Cardano Price Could Hit $1.40 After Consolidation

Published

1 month ago

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February 1, 2025

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Cardano (ADA), a leading proof-of-stake cryptocurrency, has been undergoing a consolidation phase over the last two months. Market analysts are optimistic about ADA’s price potential, highlighting a possible 40% increase to $1.40 by March 2025. This prediction is based on the symmetrical triangle pattern on ADA price charts, suggesting a breakout and crypto rally.

Will Cardano Price Surge 40%? Analysts Predict $1.40 Price Target

Analyst Ali Martinez recently analyzed Cardano price movements and shared insights via social media platforms. According to Martinez, the formation of a symmetrical triangle on ADA’s four-hour chart could indicate a strong upward movement. This technical pattern and increasing investor interest suggest a bullish outlook for ADA.

Additionally, Cardano (ADA) has shown strong resilience in past market cycles, breaking through key resistance levels and achieving impressive price surges. Its previous rally beyond $2.77 reinforced optimism among traders and investors. Analysts now point to historical trends as a foundation for future price action, suggesting that ADA could replicate similar breakouts.

Analyst Javon Marks has supported the bullish predictions, recently highlighting key levels from previous cycles. Notably, $1.33 and $2.50 have been identified as crucial resistance zones that could dictate ADA’s next major move. If the price breaks above these levels with strong volume, it could pave the way for a run toward $5.2 and $7.8. 

Moreover, Cardano network has seen significant enhancements with the introduction of the Plomin hardfork. This upgrade is part of the ongoing efforts to achieve 100% decentralization and improve scalability. Such developments enhance the network’s functionality and boost investor confidence in ADA’s future.

Increased Investor Confidence

The open interest in ADA has witnessed a substantial increase, with $1.31 billion tied up in futures trading. This surge in open interest reflects growing investor confidence in Cardano. The heightened activity indicates that investors are optimistic about Cardano price trajectory heading into 2025, betting on its ability to surpass the $1 price mark amid crypto rally.

More so, a recent CoinGape report highlighted the Cup & Handle formation, pointing to a potential crypto rally. This bullish pattern suggests that Cardano price could break above key resistance levels, setting the stage for further gains. If the breakout is confirmed, analysts anticipate an initial surge to $1.30, with a possible extension toward $1.796.

At press time, ADA is trading at $0.9313, reflecting a 3% decline over the past 24 hours. The market cap has dropped to $32.76 billion, while trading volume sits at $571.8 million.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Cardano

Cardano (ADA) Price Recovery to $1 Unlikely As Whales Retreat

Published

2 months ago

on

January 2, 2025

By


Cardano (ADA) price surged by 10% in 24 hours, showing signs of a potential bullish trend for 2025. The recovery follows late 2024 gains as broader crypto markets stabilize. However, reaching the $1 mark may face hurdles, with declining whale activity raising concerns. Bitcoin’s climb above $97,000 has boosted market sentiment, contributing to recovery. Cardano’s future momentum depends on growing investor confidence and reduced selling pressure from major holders.

Cardano Price Loses Momentum

The Cardano price has climbed above $0.90 after an 8.69% surge in the last 24 hours. The ADA price now trades at $0.957, marking a 5% daily increase. This growth aligns with a broader upward trend in the crypto market over the past week.

Cardano (ADA) has gained 10% over the last seven days, solidifying its position as the ninth-largest cryptocurrency by market cap. ADA is capturing investor attention ahead of the anticipated 2025 bull run.

Cardano (ADA) Price Recovery to $1 Unlikely As Whales RetreatCardano (ADA) Price Recovery to $1 Unlikely As Whales Retreat
Source: TradingView

ADA Holders Flee as Momentum Dissipates

ADA price retraced from its recent peak of $1.3264 as daily active addresses dropped to pre-pump levels seen before November 3. Despite only a 30% decline in price, the network has seen a sharp drop in investor engagement, highlighting a lack of sustained interest in the asset.

Network growth metrics, which spiked alongside the rally, have now slowed significantly. This suggests waning momentum and reduced confidence among ADA holders. The decline in daily active addresses signals that participation has weakened despite the asset’s relatively moderate pullback in price.

Cardano (ADA) Price Recovery to $1 Unlikely As Whales RetreatCardano (ADA) Price Recovery to $1 Unlikely As Whales Retreat
Source- Santiment

Whales Dump ADA as Momentum Fizzles Out

On December 11, the whale category holding 10 million to 100 million ADA possessed 12.15 billion ADA. Meanwhile, the whale group holding 1 million to 10 million ADA had 5.64 billion ADA.

This decline in holdings by significant ADA stakeholders signals bearish momentum for Cardano, as whale dumping often precedes price weakening.

Cardano (ADA) Price Recovery to $1 Unlikely As Whales RetreatCardano (ADA) Price Recovery to $1 Unlikely As Whales Retreat
Source-Santiment

Cardano Price Analysis & Targets

Cardano (ADA) price is gaining upward traction after consolidating near the $0.80 level. The cryptocurrency has moved towards $0.96, showing resilience despite a prolonged period of price stagnation.

The four-hour chart highlights clear resistance and support zones, offering critical insights into potential price movements. The immediate resistance stands at $1.00, which has historically served as a psychological barrier. Breaking above this level could pave the way for a test of $1.30. On the downside, the $0.80 zone acts as robust support, with $0.70 and $0.50 as secondary fallback levels.

The Relative Strength Index (RSI) has entered the overbought territory, currently hovering near 67. This suggests growing buying pressure, although the market might soon face a brief correction.

Cardano (ADA) Price Recovery to $1 Unlikely As Whales RetreatCardano (ADA) Price Recovery to $1 Unlikely As Whales Retreat
Cardano (ADA) Price Chart: TradingView

The Cardano price recovery shows promise, but declining whale activity raises challenges. Sustained investor confidence and renewed market participation will be crucial for ADA to break past the $1 resistance.

 

Frequently Asked Questions (FAQs)

$1 serves as a psychological and historical technical barrier for Cardano.

Declining whale activity signals bearish momentum and reduced investor confidence.

Key support levels include $0.80, with secondary levels at $0.70 and $0.50.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Cardano Price Eyes Rally To New Highs As Bull Flag Appears

Published

3 months ago

on

December 24, 2024

By


The price of Cardano (ADA) has joined the so-called Santa rally, a trend that is amusing investors after a very volatile week. Earlier, the price of the coin dropped to a 4-week low of $0.7659 and entering a short period of consolidation afterward. With the latest bullish uptick, the digital currency is likely to leverage its bull flag setup to soar higher.

ADA Price and Future Projections

At the time of writing, the price of the ADA has jumped by 6.66% and was changing hands for $0.9412. According to market analyst @Av_Sebastian, there is a whole lot of reasons to agree with the ADA bull flag formation. He presented an ADA/USD 1D chart that shows Cardano breaking out around the $0.93 price mark.

Notably, this price level formed a strong resistance for ADA over the past week. With just a few attempts to break above this level within this period, the ongoing rally marks a significant stride. The bull flag is a technical setup formed in periods of consolidation within an uptrend.

If Cardano ends up with a bullish candle on the daily, the coin might eventually break the $1 price mark in the short term. This projection aligns with previous ADA price analysis where top analysts project a $2.60–$2.80 based on Elliott Wave projections.

Is Cardano Undervalued?

Cardano is a Proof-of-Stake (PoS) protocol, considered as an Ethereum killer. Many see the coin as undervalued, considering its growing role in the Decentralized Finance (DeFi) ecosystem.

Despite the growing backlash against the protocol and its founder Charles Hoskinson, the push for growth remains intact. Recently, Hoskinson proposed that the Cardano Foundation should move to Abu Dhabi or Wyoming in a bid to drive community governance.

The protocol, through the Chang hard fork upgrade, has made significant strides to democratize its governance systems. This, and alliances like the Bitcoin DeFi push makes ADA an appealing coin for long term growth.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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