Cardano ADA, which has gained 22% this week, is one of most promising cryptocurrencies currently on the crypto market. ADA’s price has risen by a significant amount in the last few months, and it is even higher than Bitcoin (BTC), which is up 200%. Bulls believe that a price surge is possible in December based on past trends.
According to Cryptorank, ADA’s average monthly growth rate is 66.8%, proving that December was a positive month for the cryptocurrency. Cardano’s native crypto was trading at over $1 when we went to press. The surge in value could push the coin closer towards a valuation of $2. The price of Cardano’s native cryptocurrency is in a good position to continue its stellar December performance if it maintains the current momentum. ADA’s price was $1.22 when we went to press, an increase of 6% over the past 24 hours. The market value of ADA has risen to $42,89 billion.
In December of 2021, ADA’s price peaked around three months after it reached its highest level ever, which was almost $3. Since then, the asset’s price has been steadily rising in December. Analysts expect this consistent price trend to continue through December 2024. They also predict the asset will test new resistance. The Fibonacci indicators suggest the next target of ADA is $2.453. The Fibonacci sequence corresponding with the 2.618 Fibonacci levels will however see ADA hitting $8.30 for its next target.
Also Read: Cardano: AI Predicts When ADA Will Breach Its All-Time High of $3.09
Cardano’s 58.1% gain in December 2023 would put the price of ADA to a minimum of $1.70. As ADA’s price soared 216% from November to December 2024, this seems easy. Bitcoin’s rise from $100k to $200k in recent weeks is also stimulating the whole crypto market. Altcoins are included, of which ADA is one.
Cardano ADA and other altcoins are aiming for new ATHs as the crypto market prepares to change with the arrival of Trump.
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Source: watcher.guru
