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Will Cardano Price Hit $0.5 In November?

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The Cardano price plunged 4.8% during the Sunday trading session to $0.33. The bearish downturn likely followed the Bitcoin price drop below $68,000 as the crypto market witnessed a surge in selling pressure ahead of the U.S. presidential election. Will the correction extend the ADA buyer coil counterattack for the surge to $0.5 in November?

Will Cardano Price Reach $1.05 This November? 

The cryptocurrency market is experiencing a renewed bullish momentum ahead of the U.S. presidential election in 2024. The Cardano price managed to leverage this broader market sentiment to shift its prevailing downtrend to sideways.

Since mid-June, the Cardano price has been resonating strictly between two converging trendlines, indicating the formation of a symmetrical triangle pattern. Theoretically, this pattern guides a temporary consolidation between a dimension, dynamic support, and resistance to republish the prevailing trend.

If the market corrections prolong, the ADA price could plunge another 2.8% to seek support at an ascending trendline intact since June 2023. Historical data shows the Cardano price reversal from this support has led to a recovery ranging from 35% to 250%. Thus, the ADA price could strengthen its grip over the asset at the bottom support and attempt a bullish breakout from the key resistance of current correctional at $0.37.

Crypto buyers need to achieve this breakout by mid-November if they aim to reach the $0.5 target by month’s end.

BINANCE:ADAUSDT Chart Image by sahilmahadik07BINANCE:ADAUSDT Chart Image by sahilmahadik07

Whale Accumulation and MVRV Data Hint at Cardano Price Recovery

According to santiment data, the 30-day market cap to realized cap ratio (MVRV) has recently plunged to a -6.37% mark. The MVRV ratio compares an asset’s market capitalization to its realized capitalization and helps determine whether the asset is overvalued or undervalued. 

Historically, the MVRV breakdown below -6% has formed local market bottoms. Generally, the negative value indicates a loss-making short-term trader could capitulate if the correction trend extends. Exit from these speculative traders often attracts long-term business and drives sustained recovery.

Cardano (ADA)Cardano (ADA)
30-day MVRV Ratio | santiment

Moreover, ADA buyers with wallets holding 100 million to 1 billion coins have drastically increased their accumulation from 2.06 billion to 2.95 billion over the last four months. This significant accumulation trend implies growing confidence among major investors in Cardano’s long-term potential.

Cardano (ADA)Cardano (ADA)
Supply Distribution | Santiment

Historically, such accumulation by large holders, or “whales,” is often a precursor to a price uptrend, as it indicates strategic buying and reduced sell pressure.  However, if the selling pressure at the overhead trendline persists, the Cardano price may extend the sideways action.

Frequently Asked Questions (FAQs)

This trend signals growing confidence among major investors and typically precedes a price uptrend due to strategic buying and reduced sell pressure

Cardano’s price could hit $0.5 if it successfully breaks out of the symmetrical triangle pattern by mid-November

A retest of the multi-month ascending support trendline intact since June 2023 could trigger a bullish breakout

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

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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Top 4 Altcoins to Hold Before 2025 Alt Season

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The crypto market shows signs of resurgence, offering investors lucrative opportunities. These four Altcoin to Hold stand out with potential for significant growth before 2025. Backed by promising fundamentals, they are strong contenders for a surge during the anticipated bull market.

 Altcoins to Hold: XRP

XRP price has surged by 100% over the past month, reaching $2.24 during a strong market rally. Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), which appears close to a favourable resolution, has significantly boosted investor confidence.

Market bulls are defending the $2.05–$2.20 support range, a key area attracting substantial buyer interest. Analysts suggest a break above $2.60 could lead to more upside momentum, with $3.00 as the next psychological target. XRP continues to shine as one of the top altcoins to hold before 2025.

Source: X

DexBoss (DEBO) 

DexBoss (DEBO), selling for $0.01 in its presale, is drawing attention from cryptocurrency enthusiasts. This memecoin stands out by combining humor with blockchain-based utility. Unlike typical short-lived memecoins, DexBoss offers a robust ecosystem featuring decentralized token swaps, staking opportunities, and exclusive NFT releases. 

Its unique approach appeals to both speculative investors and long-term holders. DexBoss’s foundation of blockchain technology positions it as more than a fleeting trend. The coin’s diverse features make it an intriguing option for those seeking innovation and potential in the cryptocurrency market.

Sui (SUI)

Sui (SUI) price has risen to $4.59, marking a 2% surge and highlighting its growing market appeal. The Layer 1 blockchain platform is gaining recognition for delivering fast, private, and secure digital asset management making it altcoin to buy. 

Known for its efficiency, Sui has seen a steady rise in Total Value Locked (TVL). Analysts view this momentum as a sign of investor confidence ahead of the anticipated 2025 altcoin season. With its innovative smart contract solutions, Sui continues positioning itself as a top contender among altcoins in the competitive blockchain ecosystem.

https://defillama.com/chain/Suihttps://defillama.com/chain/Sui
Source- DefiLIama

Dogecoin (DOGE)

Dogecoin (DOGE), a prominent meme-based cryptocurrency, recently recorded a significant price surge despite slight market corrections. The DOGE price has climbed 250% over the past year, trading at $0.332 at the time of writing. This remarkable growth underscores its rising popularity among investors and its appeal as a potential altcoin to hold before the anticipated 2025 alt season.

Notably, whale transactions involving Dogecoin have spiked, reflecting heightened activity among large holders. In late October, transactions exceeding $100,000 saw a sharp increase. This trend signals growing whale interest, which could further influence market dynamics and fuel continued momentum for DOGE’s price trajectory.

Source: Santiment

As crypto market dynamics shift, focusing on Altcoin to hold can yield substantial returns. These four assets offer growth potential, innovation, and community-driven resilience, making them a must-watch for 2025.

Frequently Asked Questions (FAQs)

XRP, DexBoss, Sui, and Dogecoin are top recommendations.

XRP shows bullish trends with potential legal clarity boosting confidence.

DexBoss offers utility through token swaps, staking, and NFTs.

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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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Crypto Whales Gobble Up Nearly $149,600,000 Worth of Cardano and Large-Cap Memecoin in Just Two Days: Analyst

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An on-chain analyst says deep-pocketed investors are loading up massive amounts of Cardano (ADA) and a top memecoin as the market went sideways for the past week.

Analyst Ali Martinez tells his 98,800 followers on the social media platform X that crypto whales accumulated $85.6 million worth of ADA in a couple of days.

“Cardano whales bought over 80 million ADA in 48 hours!”

Image
Source: Ali Martinez/X

At time of writing, ADA is trading for $1.07.

Martinez also says deep-pocketed investors snapped up $64 million worth of the large-cap memecoin Dogecoin (DOGE).

“Whales bought another 160 million Dogecoin DOGE in 24 hours!”

Image
Source: Ali Martinez/X

At time of writing, DOGE is worth $0.40.

In total, the crypto whales accumulated nearly $150 million worth of ADA and DOGE in just two days during the past week.

Turning to Bitcoin, Martinez says he’s looking at BTC‘s In/Out of the Money Around Price (IOMAP) metric. IOMAP classifies crypto addresses as either profiting, breaking even, or losing money – to determine support and resistance levels for BTC.

According to the analyst, Bitcoin has a fortress of support above $94,000 as millions of wallets accumulated millions of BTC around and above the price area.

“Bitcoin sits on top of a significant support wall between $94,300 and $100,250, where 2.25 million wallets bought over 2.18 million BTC.”

Image
Source: Ali Martinez/X

At time of writing, Bitcoin is trading for $101,946.

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Will Cardano Price Reach ATH If It Mirrors Its 2021 Rally?

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Cardano price, a proof-of-stake cryptocurrency, has recently witnessed a significant price increase amid a broader market rally. The altcoin’s upward momentum reflects heightened investor interest, paralleling gains in other cryptocurrencies. With December promising further potential, ADA enthusiasts are speculating whether its price could revisit all-time highs, mirroring its impressive 2021 rally

Is Cardano Price to Reclaim Its ATH From the 2021 Bull Run?

Cardano price is regaining traction as bullish sentiment returns to the cryptocurrency market. The top altcoin shows signs of recovery, with its price reclaiming $3.10 and sparking optimism among investors. The market now watches closely as ADA aims to surpass its previous cycle’s all-time high.

Cardano’s all-time high was $3.10 on September 2, 2021. At the time of reporting, the cryptocurrency is still 63.71% below this peak. However, recent price movements suggest a growing potential for a breakout.

Market analysts attribute the renewed bullish momentum to the broader crypto rally. Several key altcoins, including Cardano, are benefiting from increased investor confidence. With the current trajectory, ADA could move closer to reclaiming its 2021 high if market conditions persist.

Crypto Analyst Eyes Bullish Break Out For ADA

A crypto analyst recently shared an intriguing insight on X post, highlighting Cardano’s potential growth trajectory. The tweet emphasized that ADA may soon achieve $3, $7, and $14 milestones, aligning with a broader market “super cycle.”

The post included a chart showcasing ADA’s significant price levels, framing the $14 mark as a pivotal milestone. It also highlighted a $500 billion market capitalization benchmark, suggesting a bullish perspective on Cardano’s future growth.

At the time of writing, the ADA price is trading at $1.08, marking a 3.66% decline in daily performance. Despite the dip, technical indicators suggest pivotal movements ahead for the Cardano token.

If the bullish trend gains momentum, the top altcoin could rally to the $2 mark, fueled by increasing trading activity and strong investor sentiment. A continuation of this bullish trajectory might propel the price to $3.10, mirroring its 2021 all-time high. However, if bearish forces dominate, ADA could retrace further to $1, potentially erasing recent gains.

The MACD indicator highlights a bearish crossover, with the signal line at 0.1209 and the MACD line at 0.0912. The Chaikin Money Flow (CMF) remains positive at 0.11, pointing to sustained buying interest despite price declines. This suggests that market participants are still optimistic about ADA’s long-term potential.

Will Cardano Price Reach ATH If It Mirrors Its 2021 Rally?Will Cardano Price Reach ATH If It Mirrors Its 2021 Rally?
Cardano Price Chart: TradingView

While Cardano’s recent momentum hints at the potential for a bullish breakout, its ability to reclaim the 2021 ATH will depend on sustained market confidence and overcoming bearish resistance.

Frequently Asked Questions (FAQs)

Cardano’s all-time high price is $3.10, reached on September 2, 2021.

Cardano’s price could potentially revisit its ATH if market conditions remain favorable.

If bullish momentum continues, Cardano could reach $2, potentially revisiting $3.10.

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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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