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Cardano (ADA) is on track for a bullish December, with historical trends indicating a possible 66% price surge. Rising market volume and Bitcoin’s strong performance add to optimism for ADA’s next big move.
Cardano's Historical December Gains Signal Potential Surge
If the past is any indication, Cardano's (ADA) December price might surge by as much as 66%.
December was typically a bullish month for ADA, according to Cryptorank data, with an average growth rate of 66.8%. A further spectacular rally for ADA is possible this month, building on the optimistic forecast from November.
If the recent upswing in Cardano's price continues, it will likely duplicate its previous performance. As of this writing, ADA had a trading volume of $1.14, representing a 6.60% rise from the previous day. A whopping 214.52% increase, to $4.29 billion, is its market volume.
For Cardano, this upward trend in the last month of 2018 has been typical. After reaching a new all-time high of over $3 in November 2020, ADA finally bottomed out at $1.72 in December 2021. After overcoming unfavorable emotions, the asset's price has been steadily rising.
Experts Predict $10 for Cardano as Fibonacci Levels Set Targets
Experts predict that Cardano might reach $10 in the near future, and the cryptocurrency has already begun its ascent. U.Today reports that a Fibonacci indicator expert has suggested $2.453 as a potential next objective for ADA.
Nevertheless, $8.30 will be the next significant objective for ADA according to the Fibonacci sequence that corresponds to the 2.618 Fibonacci level.
Even if these predictions don't come true, a recurrence of the 58.1% gain from December 2023 would put the price of ADA at $1.70.
On the other hand, ADA experienced a 216% surge in November, which could lead to a return to its all-time high of $3.10.
Bitcoin's Rally and Key Developments Boost Cardano's Prospects
Cardano has a number of basic backings in addition to its historical precedent that might help it maintain a favorable growth trend for the remainder of the year. From the Quantum Hosky breakthrough to the Chang hard fork update, ADA is currently seeing a surge in buzz.
Additionally, Bitcoin is taking action to potentially retest the $100,000 price level. Bullish mood persists despite headwinds and corrections. By capitalizing on its association with BTC, ADA has the potential to reach new heights this month.
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