Cardano Rally Heats Up: Experts See 750% Jump Ahead

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	2,001,303,159,383	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

2,001,303,159,383

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-281.66	-0.28%	100,911.55	100,911.54	100,911.55

Price Change

Price Change %

Current Price

Bid Price

Offer

-281.66

-0.28%

100,911.55

100,911.54

100,911.55

High Price	Low Price	Open Price	Prev. Close	52 Week Range
102,595.00	100,194.33	101,151.30	101,193.21	38,501.00 - 104,000.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

102,595.00

100,194.33

101,151.30

101,193.21

38,501.00 - 104,000.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	18:56:41	0.00000495	100,911.55	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

18:56:41

0.00000495

100,911.55

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,277,626,388.09	12,616.29	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,277,626,388.09

12,616.29

Cardano Rally Heats Up: Experts See 750% Jump Ahead

03/12/2024 11:00pm

NEWSBTC

Cardano (ADA) was up 16% today and touched $1.28. The cryptocurrency had its biggest 24-hour gain in the last month, which boosted its market capitalization to $44.7 billion. Now, investors have begun talking about whether this momentum can be sustained, or if the rally has just been a temporary burst. Related Reading: Shiba Inu All Set For ‘Bull Show’, Eyes 180% Rally – Analyst Cardano has gained a remarkable 268% in value over the past month, capturing the attention of bulls. Experts are keenly observing the token as optimism about the broader crypto market grows. Bullish Predictions Fuel Market Hopes Crypto analyst Javon Marks thinks ADA has more to go. On December 1, Marks presented a price target of $2.77, or 130% above its current value. He also suggested that ADA could go the same way as it did in 2021 and surge between $5.29 and $7.82. Lark Davis, another prominent analyst, went even further and predicted that ADA would jump by 747% to $10. $ADA (Cardano) continuing to display monumental strength here and can be in full pursuit towards the first target of $2.7709 which can result in another +135% move from here to reach it but history says there can be more 👀! See charts below… https://t.co/OXkUPU1un4 pic.twitter.com/VOCZMOTo5Q — JAVON⚡️MARKS (@JavonTM1) December 1, 2024 Institutional support is further giving the bull case credibility. The CIO at Morgan Creek Capital, Mark Yusko, recently stated that Cardano was one of his top altcoin choices for 2024. According to Yusko, traditional banks will be forced to introduce cryptocurrencies like ADA in the future to maintain their status quo. Resistance & Support Levels Under Focus While the rally is exciting, technical analysts suggest caution. The altcoin recently failed to break past the resistance level of $1.15, which raises questions about whether the uptrend can hold. Analysts point out that ADA must decisively reclaim this resistance to sustain its bullish momentum. If ADA succeeds in breaking through and holding up above $1.15, it could open a fresh wave of buying to carry the price even higher. If it fails, there could be a pullback to some critical support levels around $0.88. Related Reading: Cardano To Hit $10? Analyst Thinks It’s Happening This Cycle Broader Market Trends Could Boost ADA Cardano is just seeing its surge as the overall crypto market is filled with fresh momentum. Bitcoin is approaching $100,000 and the recently held US presidential election brings much-needed optimism for the introduction of friendlier policies to cryptos. The positive context will therefore become a tailwind for ADA and other altcoins. Meanwhile, Cardano plans to release 18.53 million ADA tokens on December 4, which are worth approximately $20 million, adding to its momentum. An increase in supply can be viewed as dilution; however, the funds will go towards staking and treasury reserves, which may boost long-term growth. At present, Cardano seems to be on the bright side of things, but the future depends on breaking some key resistance levels and holding investor confidence. Featured image from VOI, chart from TradingView

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