Is Cardano Preparing a Bull Run to $2? ADA Whales Buy Massively

The cryptocurrency Cardano Is Cardano preparing a bull run to $2? ADA whales have been making massive purchases over the past few days. Despite the price fluctuations over the past week, Cardano has remained above the $1 level, in a move that is in line with the overall bullish trend in the market. In this sense, ADA whales could be crucial in the current stability.

Ali Martinez, a renowned cryptocurrency analyst, highlighted the recent massive activity of Cardano whales. These large holders purchased over 100 million ADA tokens in just 24 hours.

Market experts point out that a wave of purchases by whales of a token may indicate a potential price rise or an event that could result in a new price increase for the asset.

Cardano cryptocurrency was one of the main beneficiaries of Bitcoin’s recent bull run that surpassed the $100 level, with the price of ADA registering significant increases. Given this scenario, analysts have been speculating a possible rise towards $2 in December.

The price of Cardano today 09/12/2024 is showing a significant drop of almost 9% that caused the asset to return to trading below $1,15. Yesterday, the price of ADA reached the $1,22 zone, but was unable to sustain its upward movement and retracted to the current level of $1,11.

Source: TradingView

At the time of publication, Cardano’s price was trading at $1,11, down 8.8% in the last 24 hours. In its weekly development, the asset has appreciated by 5.4%.

How High Can Cardano Go in December? Analysis Predicts All-Time High for ADA Price

How high can Cardano go in December? A very optimistic analysis has highlighted a prediction of an all-time high in the price of the cryptocurrency ADA. In a remarkable upward movement in recent days, the price of Cardano has shown an impressive appreciation, and, with this scenario, experts are observing the potential for the cryptocurrency to break its all-time high in the next 30 to 60 days.

Renowned market analyst Dan Gambardello shared a technical analysis highlighting the potential breakout of the ADA token by analyzing the technology developed by Cardano, as well as the shift in the industry with a different political stance related to regulations in the industry. According to Gambardello, the Cardano cryptocurrency could rise above $3 in December.

The expert highlighted in his prediction that technological advancements are boosting Cardano’s scalability, with the network recently reaching 1 million transactions per second (TPS). Furthermore, the analysis highlighted another important point that could benefit ADA’s price, which is a policy change at the U.S. Securities and Exchange Commission (SEC).