Cardano (ADA) has skyrocketed, can it surge another 175% to $3?
As soon as the results of the US elections came out, the cryptocurrency market changed dramatically. The new leadership might bring some clarity in regulation to this industry. Moreover, the founder of Cardano has become a cryptocurrency advisor to the new president, so ADA is now full of confidence, surging directly by 250%!
Now that ADA has risen so much, technically, this third-generation token still needs to make more powerful moves.
Cardano has been underestimated in the past, and traders were not very optimistic about it. But this price increase shows that it has finally followed the trend; while other tokens are still stagnating, it is climbing rapidly. It seems ADA is about to make a big move and is preparing for another surge.
Previously, ADA's price was not good, and large holders didn’t pay much attention to it. But in the past few weeks, trading volume has increased by more than 300%, and it seems that large holders and institutions are waiting for Cardano to surge again. Daily trading volume has exceeded $22 billion.
Also, the number of addresses using ADA is increasing. These addresses, whether for buying, selling, or exchanging tokens, indicate that the platform is becoming more popular, and the price of ADA has followed suit.
Retail and large holders now both believe that ADA can rise, and the price is striving to break through the $1.2 barrier. If it can push past that, it might reach $1.38, and then up to $1.5. If this momentum can be maintained, $2 and $3 are not just dreams; it might even break $3.5!
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