Cardano (ADA) price has entered back into the spotlight. The cryptocurrency recently reclaimed the crucial $1 mark, rising by 193% since the start of November. It has tripled in value from early November lows, sparking excitement among traders. Now, investors are eyeing the next major price move.
ADA price is now firmly above $1. According to CoinGecko data, ADA’s 24-hour trading volume reached approximately $2.48 billion, indicating strong market participation and a healthy interest in the cryptocurrency.
The rising price and increasing trading volumes are signaling a potentially sustainable bull run, with bullish technical patterns and growing whale activity contributing to the upward momentum.
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Since early November, ADA has gained 193%. At its peak, it reached $1.03, marking a major milestone. This surge has renewed interest in the coin and drawn attention from both retail and institutional investors.
Whale Activity Drives ADA Price Surge
Major investors, known as whales, have played a key role in ADA price’s recent surge. According to analyst Ali Martinez, these whales purchased over 130 million ADA tokens in November.
Their actions helped establish key support levels between $0.83 and $0.85. As these large holders increased their positions, the price of ADA price began to rise, pushing it above $1.
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This whale activity shows that major players believe in ADA’s future potential. Their buying spree has helped set the stage for the recent price gains.
Traders are now watching key price levels. Using Fibonacci analysis, analysts suggest ADA price could target $2.45 next, which lines up with the 1.618 Fibonacci level. If ADA price breaks through this level, it could reach $8.30, the next major target.
In the short term, there are resistance levels at $1.16, $1.37, and $1.54. These levels could act as barriers, but if ADA maintains its momentum, it may break through them.
Growing Cardano Momentum
ADA’s recent performance shows growing momentum. Trading volumes continue to rise, with $2.98 billion in 24-hour volume.
This indicates strong market interest in ADA price. The coin’s price has been moving in a clear upward direction, supported by both retail traders and institutional investors.
Support levels are holding strong, which could help ADA continue its climb. The market is still volatile, but ADA looks well-positioned for further gains if the bullish trend holds.
With ADA back above $1, there’s renewed optimism among investors. Whale activity and technical indicators suggest that the coin could continue its rise. However, market conditions are always unpredictable.
While the Fibonacci levels suggest higher targets, no one can say for sure where ADA will go next. For now, bulls are in control, and Cardano is on the move.
Cardano Enters Elite Crypto Rankings with “A” Rating
Weiss Crypto has upgraded Cardano to an “A-” rating, placing it among the top-rated digital assets alongside Bitcoin and Ethereum. This recognition highlights Cardano’s advancements in adoption, technology, and market performance.
The firm’s rating system, which divides the “A” category into “A+,” “A,” and “A-,” now includes Cardano in its lowest tier, reflecting strong but evolving potential. Ethereum also holds an “A-,” while Bitcoin leads with a full “A” and a “strong buy” recommendation.
The upgrade underscores Cardano’s growing influence in the cryptocurrency ecosystem, affirming its position as a key player in the market.
