Cardano

Date: Fri, Nov 22, 2024, 11:01 AM GMTThe cryptocurrency market has seen a significant bullish wave since Donald Trump&#39;s victory in the U.S. presidential elections on November 5, 2024. Bitcoin (BTC), the market leader, has continued its meteoric rise, hitting a new all-time high of $99,502 today. Alongside Bitcoin, <a href="https://coinsprobe.com/cardano-ada-gains-momentum-following-whale-accumulation-is-a-50-move-on-the-horizon/" rel="noopener noreferrer nofollow">Cardano (ADA)</a> has been riding this bullish trend, posting remarkable gains.Over the past 30 days, ADA has surged by an impressive 150% and today it continued its bullish momentum by double digit gains of over 13% as currently trading at $0.892 with a market capitalization of $31.26 billion.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/01ee9361b44a4a1498d8b4efbcf31c59.png" />Source: Coinmarketcap<h3 id="whale-activity-fuels-ada-s-rally">Whale Activity Fuels ADA’s Rally</h3>A key driver of ADA’s bullish performance is the growing activity of large holders, or &#34;whales.&#34; According to data from <a href="https://coinsprobe.com/cardano-ada-gains-momentum-following-whale-accumulation-is-a-50-move-on-the-horizon/" rel="noopener noreferrer nofollow">&#64;ali_charts</a>, whale accumulation has skyrocketed. Wallets holding over $10 million worth of ADA have increased their holdings by an astonishing 145.72% in the last month. Supporting this, the recent report from <a href="https://www.coindesk.com/markets/2024/11/22/cardanos-ada-leaps-to-25-year-high-of-90-cents-as-whale-holdings-exceed-12b/" rel="noopener noreferrer nofollow">CoinDesk </a>reveals that whales now collectively hold over $12 billion in ADA, highlighting their strong conviction in the asset.<h3 id="is-a-43-40-move-on-the-horizon">Is a &#43;40% Move on the Horizon?</h3>Since November 5, ADA has experienced a 164% surge, rising from $0.32 to its current price of $0.89. Technical analysis suggests that further gains could be on the way.<h4>Weekly Chart Analysis</h4><img src="https://academy-public.coinmarketcap.com/optimized-uploads/ccf78062cfa949f092e6722480ba5ecd.png" />On the weekly chart, ADA has broken past its key resistance level of $0.8092. This breakout signals potential for further upward momentum, with the next major resistance level at $1.26—a target representing a &#43;40% increase from the current price.<h4>Daily Chart Analysis</h4><img src="https://academy-public.coinmarketcap.com/optimized-uploads/d1ebc1a387c94ea7ba9c0439c48a478d.png" />The daily chart reinforces the bullish outlook. After successfully flipping the $0.8092 resistance into support, ADA is now eyeing a minor resistance level $0.9739. If the cryptocurrency can break through these barriers, it is likely to reach the main resistance level at $1.26.<h3 id="outlook-and-conclusion">Outlook and Conclusion</h3>Cardano’s current momentum, coupled with strong whale accumulation and a bullish market environment, sets the stage for a potential 40% rally toward $1.26. However, ADA will need to maintain its current strength and overcome minor resistance levels along the way.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/dogecoin-is-repeating-the-moon-phase-pattern-could-doge-reach-7/" rel="noopener noreferrer nofollow">Dogecoin is Repeating the Moon Phase Pattern: Could DOGE Reach $7?</a>

Cardano (ADA) Continues Bullish Momentum With Double Digit Gains: Is a +40% Move on the Horizon?

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