Falling momentum weakens, can ADA regain $1 in December?

Cardano (ADA) is facing a difficult time consolidating its value, especially as its current price remains below $1. Recently, ADA has plummeted about 18% within a week, which shows that the market is correcting and investor sentiment is poor. Although there has been a decent recovery over the past few months, this decline shows that surpassing $1 by the end of December will not be easy.

According to technical analysis, the price decline may continue if the key resistance at $0.92 is not broken. Without a strong increase in trading volume or positive sentiment from the investment community, the likelihood of ADA returning to $1 this month is very low. Furthermore, the lack of momentum from the whales also raises concerns about a short-term recovery; There are many signs that large investors are hesitating and waiting for clearer signs of recovery before returning to the market.

In summary, while Cardano is off to a good start in 2024, reaching $1 again this December will depend on many factors from market sentiment to active participation of traders. big investment. If buying pressure does not improve, ADA may continue to have difficulty rising.