Cardano (ADA) price Can be set finally Based on this cryptocurrency analyst’s predictions, the parabola is moving in an upward direction. This is a cryptocurrency token I’m trying to record This is the most profitable December since 2017.
ADA could rise to $0.7.
in video Crypto analyst LuckSide Crypto said this was “the moment of truth” on his YouTube channel. ADA price Because it could break the current resistance and rise to $0.7. Meanwhile, he mentioned that this also happened. Bearish potential as ADA A downward movement can also be seen. If that happens, the token could fall to $0.40.
Crypto analysts have pointed out that there is a big difference between bulls and bears. That’s why he believes that every move Cardano makes is Current price levels are “explosive”.” ADA’s current price range is around $0.61, with LuckSide Crypto noting the highest liquidity concentration right now.
A cryptocurrency analyst appeared Optimistic about ADA He struck a bullish note, highlighting several indicators that suggest so. One of them is a bull pennant, which he said is “going perfectly.” This is a good sign because the 20-day moving average is still rising. LuckSide Crypto also noted “great things” happening at RSI.
The strength of the broader cryptocurrency market is another indicator mentioned by cryptocurrency analysts. In particular, Bitcoin is said to be showing good strength as market retracements are decreasing. of course, Bitcoin Volatility Lowest level ever for a major cryptocurrency I’m on course Complete the first year without a 30% drop.
ADA price runs through December in the green | Source: ADAUSD on Tradingview.com
Cardano had a high close this year.
ADA is on track to have its most profitable December since 2017, up 517%. According to data In CryptoRank, ADA price It’s up 62% this month. This marks a turning point, considering that cryptocurrency tokens declined by 23% and nearly 16% in December 2022 and December 2021, respectively.
Source: CryptoRank
The profits recorded this month are also a fitting way to end the final quarter of the year, a period experienced by ADA. a kind of resurrection. In October and November, ADA rose 15% and 28%, respectively. During this period, the Cardano ecosystem was stronger than ever.
network There has been a surge in activity, causing the block to reach maximum capacity. Meanwhile, the Cardano DeFi environment also continues to thrive. Total Value Locked (TVL) of the network recently recorded The all-time high (ATH) is $444 million.
ADA’s much-improved DeFi capabilities have led analysts to predict that cryptocurrency tokens will One of the biggest gainers In the next bull market. Cryptocurrency expert Jason Appleton believes ADA could rise to $32.
Featured image from CoinMarketCap, chart from Tradingview.com