According to crypto analyst Ali, Cardano's price action remains on track, mirroring a well-known historical pattern.
Ali observed that the ADA price movement mirrored its 2018–2020 pattern, in which it consolidated before breaking out. If this pattern persists, Ali believes ADA will shortly break past the $0.45 resistance level. Following this, a possible rally to $0.75 by late December is possible.
At the time of writing, ADA was down 1.93% in the last 24 hours to $0.436. On-chain analytics firm Santiment noted positivity for Cardano, indicating that total ADA addresses have been shrinking. Typically, declining wallets indicate small holders are capitulating and selling to whales at a loss; nonetheless, this is a positive indicator for ADA.
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