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Cardano (ADA) Price

How Far Can Cardano Price Rise in November?

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2 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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Can Cardano Price Rally To $2 As ADA Whale Activity Surges?

Published

7 days ago

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December 16, 2024

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Recent data reveals a substantial surge in whale activity on the Cardano (ADA) network. Analyst Ali Martinez reported 687 transactions exceeding $1 million within 24 hours, signaling strong interest from large investors. This influx of capital reflects growing confidence in ADA’s future growth as Cardano price eyes a potential rally to $2.

Concurrently, Charles Hoskinson, the founder of Cardano, reaffirmed the importance of a community-driven ecosystem, stating that the cryptocurrency is approaching a milestone that could make it unstoppable in 2025.

Cardano Whale Transactions Surge as Charles Hoskinson Highlights ADA’s Growth

Analyst Ali Martinez highlighted a sharp rise in ADA whale activity, with 687 transactions exceeding $1 million recorded within 24 hours. This activity marks a significant influx of institutional capital into Cardano. In the preceding 48 hours, whales purchased over 80 million ADA tokens, valued at $85.6 million. 

ADA WHALESADA WHALES
Source: X

More so, the trend follows consistent accumulation patterns observed earlier in the month. The large investors buying spree reinforces the ADA whales confidence in ADA’s long-term potential. Such large-scale accumulations by whales often signal an upcoming Cardano price rally as buying pressure increases and investor confidence grows.

Additionally, Charles Hoskinson commented on the network’s future, emphasizing that Cardano’s vision is to be governed by its users. He outlined two critical milestones, ratifying the community budget and the constitution. The Cardano founder believes these milestones will establish Cardano as a leading crypto in 2025.

Hoskinson emphasized, 

“We are at a very critical inflection point where that dream is almost a reality. It’s my life’s work to see Cardano grow to this point. In 2025, we will see it through.”

Market Outlook: Can Cardano Price Reach $2?

Following the recent surge in whale activity, Cardano price experienced a modest rise, increasing 3% in 24 hours to $1.09. Trading volume saw a significant spike, rising 81% to $1.66 billion, indicating strong market participation. Cardano’s market cap currently stands at $38.44 billion, reflecting investor confidence amidst ongoing accumulations. Consequently, Cardano price saw a 45% increase over the past month. 

Moreover, the 4-hour Moving Average Convergence Divergence chart analysis indicates a bullish trend. This is evident as the MACD line starts to cross above the signal line, signaling an upward momentum. Additionally, the histogram bars are transitioning from red to green, which reflects strengthening buying pressure.

Analysts project potential ADA prediction targets of $1.46, $1.76, and $2.04 if bullish conditions persist. However, a drop below the $1.00 support level could disrupt this outlook. ADA price targets suggest gains of up to 92% from current levels, with $2.04 identified as a critical resistance point.

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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 Price Eyes Rally To $4 If ADA Maintain This Support, Top Analyst Says

Published

2 weeks ago

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December 10, 2024

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The recent dip in Cardano price to near $1 has sparked discussions in the broader crypto market, especially after the recent strong rally. It appears that the dip comes amid a retreat noted in the broader crypto market, indicating that investors are taking a pause ahead of the crucial economic releases. However, despite the recent dip, a top expert predicts ADA to hit $4 in the coming days if it holds a key support level.

Top Analyst Predicts Cardano Price To Hit $4

The crypto market saw its biggest liquidation recently, with traders liquidating $1.76 billion in the last 24 hours. This has triggered immense selling pressure on the broader crypto market, with Bitcoin and the top altcoins taking the biggest hits.

There was no exception for Cardano price as well, which saw a slump of nearly 10% during writing. However, despite the recent dip, top crypto market experts appear to have remained bullish on the future trajectory of the crypto.

For context, Ali Martinez, a prominent figure in the crypto space, recently shared a price chart of ADA, citing its historical trends. The analyst has compared the recent price swings to its 2020 performance, saying that he would continue to accumulate ADA even if the price continue to slump.

Cardano Price ChartCardano Price Chart
Source: Ali Martinez, X

In addition, Martinez also hinted that the crypto is poised to hit $4 or even $6, which would allow traders to book profit. In his recent X post, he stated:

“Even if it dips down to $0.76, I’m buying more and plan to book profits between $4 and $6.”

What’s Next For ADA?

ADA price today was down nearly 10% during writing and exchanged hands at $1.01. However, the crypto’s trading volume has rocketed 122% to $3.88 billion at the same time. Notably, the crypto has touched a 24-hour high of $1.15, while noting a monthly gain of 75%.

Besides, CoinGlass data showed that Cardano Futures Open Interest slumped 25% amid a broader crypto market crash, indicating a waning risk-bet appetite of the investors. However, the Relative Strength Index for ADA at 53 suggests a neutral stance for the crypto. This indicates that the crypto could witness further gains.

Cardano price ADA chartCardano price ADA chart
Source: TradingView

Additionally, Martinez has highlighted a key trend for Cardano price, saying that the crypto has slipped below the “critical $1.20 support level.” He noted that around 93,000 addresses had purchased 2.54 billion ADA at this level. Besides, he also said that the next demand zone for the crypto stands at $1 now.

ADA price Cardano addressessADA price Cardano addressess
Source: Ali Martinez, X

In addition, the Cardano Foundation X handle was hacked recently, which has also sparked concerns in the market. The hackers have promoted a false token, saying that it would stop ADA withdrawals due to the US SEC crackdown. However, the team was quick to address the issues, which has boosted the market spirit.

On the other hand, a recent analysis hints at a potential ADA rally to $2. Also, the analysis showed that the Cardano price trajectory remains bullish as long as it holds above the $0.644 support level, indicating that the crypto could witness further rally in the coming days.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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 Prediction as Trump’s New SEC Pick Could Be ADA Supporter

Published

3 weeks ago

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December 4, 2024

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Cardano (ADA) price has experienced a notable rise over the past 30 days, in line with the broader market surge. This positive movement comes as investor interest grows, fueled by the cryptocurrency market’s overall rally. ADA’s upward trajectory is part of a larger trend seen across many altcoins, which have also shown impressive gains recently. The altcoin’s surge coincides with speculation that Donald Trump’s newly appointed SEC chairman could be a supporter of Cardano, potentially adding further momentum

Cardano Price Forecast Could ADA Soar With Trump’s Supportive SEC Nominee

The Cardano price has recently captured the attention of investors. This comes after Donald Trump’s endorsement of a potential new SEC (Securities and Exchange Commission) nominee who strongly supports cryptocurrencies. This surprising political alignment could have significant implications for the price of ADA, which has increased in recent months.

The prospect of a more crypto-friendly SEC leader has fueled optimism within the crypto market. Investors hope the new nominee will take a more lenient stance on crypto regulation. This could allow projects like Cardano, often seen as a technically superior yet undervalued blockchain, to gain more traction.

ADA Price Bulls Eyes $3 Resistance Level

The latest ADA price is trading at $0.7522, marking a 14% increase over the past week. During this time, the cryptocurrency has experienced notable price fluctuations, ranging between $1.17 and $1.24. 

The volatility reflects strong market movements and heightened investor activity. ADA’s impressive price surge of 260% in the last seven days signals bullish sentiment and growing market interest.

At this stage, investors are keenly watching the $1.25 resistance level, hoping that a breach of this price point could trigger further upward momentum. If the Cardano price prediction surpasses this level, it may aim for the next significant resistance at $2. If buying pressure continues, the best altcoin could reach as high as $3.

Cardano Price Prediction as Trump's New SEC Pick Could Be ADA SupporterCardano Price Prediction as Trump's New SEC Pick Could Be ADA Supporter
Cardano Price Chart: TradingView

Currently, the overwhelming majority of contracts, 88.57%, are IntotheMoney, representing a value of $37 billion ADA. In contrast, only 3.62% of contracts, or $1.53 billion ADA, are OutThe Money, while a minor 7.81%, totaling $3.29 billion ADA, are ATM. The data, aligned with a current ADA price, provides investors with a comprehensive overview of the market’s potential movement and sentiment.

Source- IntoTheBlock

Cardano’s price surge and potential support from a crypto-friendly SEC leader present a promising outlook. ADA could see significant gains if momentum persists, targeting higher resistance levels.

Frequently Asked Questions (FAQs)

If the nominee supports cryptocurrencies, Cardano could benefit from more favorable regulation, potentially boosting its price.

ADA is currently testing the $1.25 resistance level, with potential to rise further if it surpasses this point.

Yes, if buying pressure continues, ADA could potentially hit $3, according to recent price movements and market sentiment.

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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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