Cardano ($ADA ) has a reputation for its innovation and a loyal community, which is part of the reason why people think it could reach $10 before the year ends.
One major thing to watch is the token unlock event set for mid-December. Over 37 million ADA tokens, worth about $43 million, will enter the market, and this will have a direct effect on the price.
The charts tell a similar story. ADA has been stuck between $1.01 and $1.24. If it breaks above $1.25, it could go as high as $1.90. On the other hand, if it drops below $1.01, it could fall to around $0.92.
The bigger market picture also matters. Bitcoin’s price plays a huge role in how altcoins like ADA perform.
As of December 9, 2024, Cardano (ADA) is trading at approximately $1, which represents a 15.8% decrease over the past 24 hours.
Experts have varied opinions on Cardano’s price trajectory.
According to a recent report by Finder.com, a panel of industry specialists predicts that ADA could pull back to $0.69 by the end of 2024 and surge to $1.31 by 2025. However, the same report indicates that 50% of these experts recommend selling ADA.
