“Cardano’s Price Action: What to Expect Next“
Cardano has broken through the $0.35 resistance for the first time in 85 days. This shift indicates a potential rally, with several key factors influencing ADA’s price action in the coming days.
Crypto Whales Invest in ADA
In late October, Cardano whales purchased 80 million ADA over 10 days, totaling $30 million at the current market price of $0.35. Their total holdings have reached a 3-month peak of 5.7 billion ADA, suggesting they are positioning for further gains.
Cardano Summit 2023 Impact
The Cardano Summit held in Dubai from November 2-4 generated significant media attention and investor interest. Social Dominance hit a 3-month peak of 1.72%, indicating positive market sentiment and potential price gains.
Price Prediction for ADA
With increased whale demand and media coverage, ADA’s price is expected to continue its bullish momentum towards $0.40. However, it must first overcome resistance at $0.38 to reach this target.
Hot Take: Potential Gains Ahead for Cardano
With increasing whale demand, positive media attention from the Cardano Summit, and minimal resistance on the road to $0.40, ADA’s price is set to continue its upward trajectory. However, it must surpass key resistance levels to achieve this milestone.
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