🚀ADA Cardano Has Experienced A Significant Surge In Its Price

Cardano (ADA) has experienced a significant surge in its price, skyrocketing by 211% over the past month.

This increase has allowed ADA to surpass the $1.00 mark for the first time since April of 2022, marking a notable recovery in its value.

Cardano (ADA), currently the ninth largest cryptocurrency by market capitalization, has experienced a significant increase of 211% in November, according to CoinGecko data.

The price of ADA has risen steadily since November 5, finally surpassing the $1.00 mark on November 22 for the first time since April 2022.

At its peak, the price reached $1.15 during Saturday’s trading session, but faced some resistance.

Several factors have contributed to this price surge, including heightened activity from large investors (whales) and a generally positive market sentiment.

On November 22, crypto analyst Ali Martinez noted that the volume of major Cardano transactions exceeded $22 billion daily.

Indicating strong accumulation by whales who have increased their holdings significantly over the past month.

The overall cryptocurrency market is experiencing a bullish trend, with Bitcoin nearing the $100,000 mark, which has positively influenced altcoins like Cardano.

However, at the time of reporting, ADA’s price had dipped by 11.26% to $0.978 due to profit-taking among traders.

Despite this recent decline, ADA’s price remains 36% higher on a weekly basis.

If it can maintain above $0.80, this level may act as a support, potentially leading to a return above $1.

Conversely, if the price falls below $0.80, it could drop further to around $0.63.

Cardano Trading rite now $1.03

#ADA