Cardano is currently one of the most promising cryptocurrencies in the market. The fact that the token has briefly touched the $1 mark is indeed praise-worthy, considering ADA’s inability to break past the threshold in the early months of the year 2024. The token has certainly claimed a new milestone, but will it be able to hold its momentum next month? Let’s find out.
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Cardano Price Trajectory: Bullish Market Momentum and More
The current bull market is a result of a multitude of elements. For instance, the fact the US is all set to welcome a pro-crypto regime with Elon Musk and Donald Trump leading the way is a promising sign for the cryptocurrency realm. As the nation anticipates new elemental changes in the overall cryptocurrency domain, the optimism related to new crypto policies is also rising. Investors are hoping for the US to bring in regulatory clarity to help them explore a new domain without additional worries. As Trump is all set to take over the white house, Bitcoin has soared past the $95K domain to hit $99K but has recently returned to trade around $96K at press time.
Cardano, in the middle of this, seems to be reacting positively to this change. As Bitcoin soared to hover around the $100K mark, the crypto market optimism is further bolstering ADA. Per Santiment, the token has tripled its market cap as of late, with traders basking in the highest profit rates in the last 8 months.
“🤑 Cardano has tripled its market cap over the past 17 days, amazingly bringing it to the cusp of surpassing a $1.00 market value for the first time since April, 2022. Today was the highest day of trader realized ADA profits in 8 months, and social media discussions are currently at their highest level for the coin in 11 months.”
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The Token’s Price Forecast For December 2024
Per CoinCodex, Cardano is currently sitting at $1.02, up 5% in the last 24 hours. The token is all set to explore another high in December, possibly trading at a new price spot of $1.22 by December end of 2024.
“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 19.29% and reach $ 1.220809 by December 27, 2024. Per our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 75 (Greed). Cardano recorded 21/30 (70%) green days with 40.29% price volatility over the last 30 days. Based on the Cardano forecast, it’s now a good time to buy Cardano.”
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