Cardano gears up for a massive move to this price

Even though Cardano (ADA) has been keeping up with the generally bearish sentiment in the wider cryptocurrency sector, analysis shows that the currently ninth-largest digital asset by market capitalization could, at the same time, be gearing up for a massive move in the near future.

Indeed, according to the renowned pseudonymous cryptocurrency analyst CoinsKid,Cardano could be gearing up for a MASSIVE move to $0.7497 and $1.80 eventually,” which represent two “key areas of untapped resistance,” as the expert explained in an X post published on November 21.

Areas Cardano is gearing up for. Source: TradingView

Cardano price analysis

At press time, Cardano was changing hands at the price of $0.3788, which represents a decline of 3.04% in the last 24 hours while still holding onto the gain of 5.97% across the previous week and the more significant advance of 47.39% on its monthly chart, according to the data on November 21.

Cardano 30-day price chart. Source: Finbold

It is also important to note that crypto expert Ali Martinez noticed that Cardano’s current consolidation trend eerily resembled that of the 2018-2022 phase, meaning that the asset could break through the $0.45 resistance soon and proceed toward $0.75 by the end of December.

All things considered, if things play out the way the crypto trading analyst expects them to, Cardano could, indeed, increase its price by 97.92% from its current amount to the suggested $0.7497, and then eventually by 375.19% to $1.80, which are the levels this crypto asset has not witnessed since 2022.

In fact, its chances are all the stronger considering the intensified efforts of Cardano’s development team at Input Output Global (IOG), headed by founder Charles Hoskinson, on moving the network toward full-blown decentralization, as Hoskinson recently revealed.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Comments

No comments to show.
New Bookmakers
Playfina.com

The newest member of DAMA N.V. family offers more than 6000 games and accepts a wide range of cryptocurrencies, which are arguably the most widely used form of payment for gamblers right now.

Cryptoplay.io

In the year 2021, Cryptoplay Casino went live for the first time. To bitcoin enthusiasts, the online gaming site offers an amazing game library, exclusive bonuses, and promotions.

CryptoGames

Since its inception in 2014, this crypto casino has amassed a sizable following and an even stronger reputation. This all-crypto casino has 8 Provably Fair games, a faucet, and the ability to utilize one of ten cryptocurrencies.

PlayAmo

In general, if you're looking for information on the PlayAmo casino's features and idiosyncrasies, you'll find it here.

Oshi

Oshi Casino is a bitcoin casino with a simple instant-play interface that accepts euro deposits as well as other cryptocurrencies like Ethereum.