Is $10 Within Reach For Cardano? Whale Moves Signal Big Rally Ahead

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	17,772,908,550	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

17,772,908,550

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.000944	0.46%	0.205335	0.205275	0.205327

Price Change

Price Change %

Current Price

Bid Price

Offer

0.000944

0.46%

0.205335

0.205275

0.205327

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.206119	0.20259	0.204391	0.204391	0.077142 - 0.224875

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.206119

0.20259

0.204391

0.077142 - 0.224875

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	16:36:18	1,561.60	0.205335	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

16:36:18

1,561.60

0.205335

USD

Price x Volume	Volume	Base Symbol	Related Pairs
181,924.86	889,307.70	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

181,924.86

889,307.70

Is $10 Within Reach For Cardano? Whale Moves Signal Big Rally Ahead

30/11/2024 1:00am

NEWSBTC

Cardano (ADA) has achieved a significant milestone by breaking past the $1 barrier, a level that appeared unattainable for the majority of 2023. Related Reading: Critical XRP Warning: Analyst Flags Biggest Reason To Sell The cryptocurrency’s recent price surge has captivated the attention of both analysts and investors, as it has been unable to overcome this psychological level for years. Although the token has recently experienced some price consolidation, analysts anticipate that this is merely the commencement of a much more substantial rally. Cardano: Consolidation Phase ADA’s momentum weakened after it crossed the $1 threshold, and it has been hovering just below this mark. Cardano has entered a phase of consolidation around the $0.99 to $1.00 range, contrary to the expectations of many investors who anticipated that the rally would persist. While this may appear to be a temporary setback, analyst Dan Gambardello has a different perspective. He perceives this consolidation as a positive indicator of redistribution, a prerequisite for the ADA to continue its upward trajectory. For years through the bear market, many didn’t think $ADA would ever hit $1 again. Many holders have been waiting to sell at $1. Now that we’ve reached $1, it’s great to see a consolidation and redistribution. After this phase is over, Cardano can focus on $5 and $10. — Dan Gambardello (@cryptorecruitr) November 27, 2024 Gambardello anticipates that Cardano may pursue significantly higher price points after this segment concludes, potentially achieving a range of $5 to $10. Increase In Whale Activities The increase in whale activity during Cardano’s latest performance is among the most fascinating features. ADA whales have been rapidly rising their numbers over the last few weeks, particularly following the token’s $1 breakthrough. According to reports, over 130 million ADA tokens are owned by millionaires, and that exceeds over 3.2 billion. Such accumulation is taken as a strong vote for the token, which would keep the price going high. Despite profit-taking, the ADA adoption has kept its positive optimism. Whale Appetite Up As Bitcoin approaches $100,000, there is a transition in focus to other cryptocurrencies, such as Cardano. The market capitalization of ADA has increased by more than 30% in the past week, reaching an impressive $35 billion. Related Reading: Hoskinson’s Bold Bitcoin Forecast: $500K Fueled By DeFi And Global Interest Because of the rise in whale activity and the possibility of a good regulatory environment, investors are very optimistic about Cardano’s future. The level of excitement has also been raised by rumors about Cardano’s founder and possible partnerships with incoming US President Donald Trump. Although these factors are still considered speculative, they contribute to the increasing conviction that Cardano may achieve new price milestones in the near future. Cardano’s most recent performance has demonstrated that it is once again competitive. ADA may soon achieve new heights due to the expanding market sentiment and robust whale support. The $5 to $10 price range may appear to be an ambitious goal; however, it is now feasible with the appropriate catalysts. Featured image from Christopher Swann/Minden Pictures, chart from TradingView

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