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Home»ALTCOIN NEWS»The price of ADA could skyrocket. Will the $0.45 prediction come true?
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The price of ADA could skyrocket. Will the $0.45 prediction come true?

By Crypto FlexsDecember 4, 20233 Mins Read
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The price of ADA could skyrocket.  Will the alt=
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  • Institutional investors are showing interest in ADA.
  • The price of ADA may reach $0.45 in the near term.

The last three months have proven to be critical. Cardano (ADA), And the ones coming may play an even more important role. This is because many transactions exceeding $100,000 were successful on the network.

The surge in deals signals increased institutional interest in the ADA, according to analyst Ali Martinez.

In his post, Martinez highlighted the potential impact on ADA prices, noting that whales are also involved. The analyst noted that a move like this could be essential for a significant rise in the price of ADA.

#Cardano | There has been a significant increase in transaction volume over the past three months. $ADA Transactions over $100,000 continue to hit new highs.

This surge signals growing interest in: #ADA This is usually a precursor to a price spike. pic.twitter.com/APczM2PGxM

— Ali (@ali_charts) December 4, 2023

ADA is targeting $0.45 for its next move.

So it’s no surprise that ADA’s 90-day performance increased by a whopping 59.48%. But can tokens do more than this? To get an idea of ​​this potential, AMBCrypto considered the state of the art of ADA.

At press time, the ADA/USD 4-hour chart was in solid bullish condition. Looking at the Auto Fibonacci Extension, we can see that the 0.786 Fib level could act as support for the Cardano native token. The 0.786 Fib level was around $0.388.

Therefore, even if ADA reverses from its uptrend, it may not fall below this level. Another Fib expansion level considered was 4.236. On the chart examined, the 4.236 level was $0.457.

This is one area where ADA could take a hit if large transactions continue and buying pressure dominates.

However, market participants circumspect When opening a long ADA position. This is because the relative strength index (RSI) is 75.78, meaning that altcoins are overbought. So the ADA can go back.

If the price of ADA declines, the support at $0.388 may push the price lower. Increase.

Source: TradingView

Reversal is possible

If we see strong buying momentum at this level, ADA could rise towards the $0.45 region. Regarding pricing, AMBCrypto has confirmed: liquidation level Provided by Hiblock Capital.

Liquidation level is the expected price level at which liquidation risk is high. The chart shared below shows that Cardano could be heading towards $0.42.

This is because it becomes the cryptocurrency’s own territory due to the liquidity cluster at that time.


Is your portfolio green? Please confirm ADA Benefit Calculator


We evaluated the Cumulative Liquidation Level Delta (CLLD) and found that the indicator is at a very positive level. This could result in a full retracement.

ADA Clearing Level

Source: HyblockCapital

Therefore, the price of ADA is likely to fall to $0.38 in the short term. But this reversal may only last for a moment. If sentiment toward ADA remains bullish, the cryptocurrency’s next target could be around $0.45.

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