As a seasoned crypto investor with a knack for spotting promising trends, I find the potential growth of Cardano (ADA) this December particularly intriguing. Having closely followed ADA’s performance over the years, I can confidently say that its historical precedence suggests a bullish outlook for this month.
If past patterns are repeated, Cardano (ADA) could potentially increase by as much as 66% in December. According to Cryptorank data, historically, ADA has shown an average growth rate of 66.8% for the month of December, suggesting a generally optimistic trend for the coin. Building on the positive momentum from November, there’s a possibility that ADA could experience an even more impressive surge this month.
Cardano’s historical December performance
As an analyst, I find myself observing a promising setup for Cardano (ADA) if the current momentum persists. At the moment of this analysis, ADA is trading at approximately $1.14, marking a 6.60% increase from its price 24 hours ago. Notably, the market volume for ADA has surged by an impressive 214.52%, reaching a level of around $4.29 billion. This indicates a heightened investor interest and could potentially set the stage for a repeat of its previous performance.
Over the past month of last year, there was a consistently positive trend with Cardano, as indicated by its price increase. In December 2021, the value of ADA reached a peak of $1.72, roughly three months following its record high of nearly $3. Despite initial bearish sentiments, the asset has continued to climb in value.
According to recent analysis, Cardano (ADA) has started its upward trend and experts predict it may reach as high as $10. Previously reported by U.Today, another analyst utilizing the Fibonacci tool sees a potential future price point for ADA at approximately $2.453.
Consequently, reaching $8.30 is predicted as the next significant goal for ADA, based on the Fibonacci sequence associated with the 2.618 Fibonacci level.
In my analysis, if ADA mirrors its 58.1% surge seen in December 2023, it’s reasonable to expect that its price could reach a minimum of $1.70.
Nevertheless, ADA experienced a staggering increase of 216% in November, and if this trend continues, it could potentially challenge its all-time high of $3.10 again.
Fundamental backing
Moving forward in 2021, Cardano appears poised for continued growth due to its strong foundational supports and the heightened excitement surrounding it. This enthusiasm stems from advancements like the Quantum Hosky innovation and the upcoming Chang hard fork update.
Additionally, Bitcoin is attempting to reach the $100,000 threshold again. Although it has faced challenges and adjustments, optimism persists. Cardano might use its connection to Bitcoin to set new records this month.
Read More
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- PlayStation and Capcom Checked Another Big Item Off Players’ Wish Lists
- EUR CAD PREDICTION
- XDC PREDICTION. XDC cryptocurrency
- Black Ops 6 Zombies Actors Quit Over Lack Of AI Protection, It’s Claimed
- CTXC PREDICTION. CTXC cryptocurrency
- JST PREDICTION. JST cryptocurrency
- APU PREDICTION. APU cryptocurrency
- EUR INR PREDICTION
2024-12-02 19:19