Can Cardano Rally Another 230% by December?
$ADA 🧧🧧🧧
Cardano (ADA) has surged past $1 this November, emerging as one of the top-performing altcoins in the crypto market. This impressive rally has fueled optimism among investors, but can ADA realistically climb another 230% by year-end?
Currently trading at $1.20, ADA has shown a 12% increase in the last 24 hours, with strong momentum pushing it toward the $1.30 resistance level. Breaking through this critical point could set the stage for a rally toward $2. However, the Relative Strength Index (RSI) at 81 indicates the asset is overbought, urging caution among traders.
On the downside, if ADA drops below $1.10, it could signal a bearish trend shift, potentially pulling the price down to $0.88—a 20% correction. Such a move would counter the bullish narrative and make a massive 230% rally less likely.
While whale activity and institutional interest around Cardano are on the rise, the path to such dramatic growth remains uncertain. Investors should monitor key support and resistance levels closely, balancing optimism with a realistic outlook.
