Cardano ($ADA ) Price Prediction for December 17

ADA, the native token of the Cardano blockchain, is gaining significant attention from crypto giants despite its ongoing price consolidation. On December 17, 2024, data from on-chain analytics firm Santiment revealed a massive rise in whale activity on the Cardano network, signaling potential upside momentum.

🔸 Whale Transactions Surge on Cardano Network

According to the data, the Cardano network witnessed a substantial 687 transactions, each worth more than $1 million, recorded in the past 24 hours. This highlights whales’ rising interest and confidence in the altcoin, suggesting a major price rally could be on the horizon.

Additionally, these notable transaction details were highlighted by crypto experts on X (formerly Twitter). However, ADA experienced this surge in transactions during a period of consolidation, as it traded within a tight range over the past week.

💬 A massive surge in whale activity on the #Cardano ADA network! In the past 24 hours, 687 transactions exceeding $1 million were recorded. — Ali (@ali_charts) December 16, 2024

🔸 Cardano (#ADA ) Technical Analysis and Upcoming Level

According to expert technical analysis, ADA appears to have formed a bearish head and shoulders price action pattern. However, this pattern isn’t yet complete, as the price remains trapped in a consolidation range between $1.07 and $1.14. This range could determine whether ADA moves upward or downward in the coming days.

🔸 ADA Key Levels and Current Price Momentum

Based on recent price action, if ADA breaks out of the narrow range and closes a daily candle above the $1.14 level, the bearish pattern would be invalidated, and ADA’s price could soar by 43% to reach the $1.63 mark in the future.

Conversely, if ADA breaks down from the range and closes a daily candle below $1, the bearish pattern would be confirmed, and ADA could witness a price decline of 24%, falling to the $0.78 level.