Cardano

bullish

Mog Coin

Coin

<ul class="wp-block-list">
 <li>Cardano’s ADA reached a 2.5-year high of $0.90, gaining 152% this month.</li>
 <li>Whale holdings now exceed $12 billion, indicating strong accumulation.</li>
</ul>
Cardano’s native token ADA surged to a 2.5-year high of $0.90 on Friday, marking its strongest performance since May 2022. This rally reflects growing interest from large investors and institutions, positioning the token for further gains.
Cardano is <a href="https://www.tradingview.com/chart/xTeB2FRP/?symbol=BINANCE%3AADAUSDT" target="_blank" rel="noopener noreferrer nofollow">currently</a> trading at $0.8853 on Friday, its highest level since May 2022. The token surged 12.57% in 24 hours, supported by rising on-chain activity and institutional interest. ADA’s market capitalization climbed to $31.03 billion, making ADA the 10th-largest digital asset globally. while its trading volume jumped 22.73% to $3.48 billion in the past day.&nbsp;
Its market capitalization now stands at $30.85 billion, making ADA the 10th-largest digital asset globally. On-chain data shows whales are driving this rally. These high-value addresses, holding over $10 million worth of ADA, now collectively own more than $12 billion of the token. Tagus Capital noted a 300% increase in large transactions involving ADA over the past two weeks, highlighting significant institutional participation.
Capital rotation from <a href="https://thenewscrypto.com/is-bitcoin-ready-to-hit-100k-after-reaching-a-new-ath-99-3k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) to alternative cryptocurrencies is contributing to ADA’s rise. Bitcoin recently crossed $99,000, approaching the $100,000 milestone, which has fueled excitement across the crypto market. Amid this bullish sentiment, Cardano’s proof-of-stake blockchain is drawing attention for its scalability and potential use cases.
Charles Hoskinson, Cardano’s <a href="https://thenewscrypto.com/cardano-ada-founder-advances-multi-pronged-push-for-us-crypto-regulation/" target="_blank" rel="noopener noreferrer nofollow">founder</a>, hinted at possible collaborations with the Trump administration to promote crypto-friendly policies. This development has amplified sentiment around ADA, according to Tagus Capital’s latest report.
<h3 class="wp-block-heading" id="h-cardano-in-today-s-market">Cardano In Today’s Market</h3>
The technical indicators for Cardano’s ADA highlight its<a href="https://x.com/Cardano" target="_blank" rel="noopener noreferrer nofollow"> strong </a>bullish momentum. The current support level lies at $0.5778, providing a solid base for any potential retracement, while the price is testing resistance at $0.92. A breakout above this resistance could propel ADA towards the psychological $1.00 mark, with further upside possible if buying momentum persists.&nbsp;
The Relative Strength Index (RSI) stands at 85.95, indicating overbought conditions, while the RSI average of 80.80 suggests sustained bullish activity. However, such levels often signal the possibility of a short-term consolidation or minor pullback before the next upward move. Moving averages reinforce the bullish sentiment, with the 9-period moving average at $0.7477 and the 21-period moving average at $0.5778, both significantly below the current price.&nbsp;
The recent golden crossover, where the short-term moving average crossed above the long-term moving average, confirms a robust uptrend and indicates the potential for continued price increases. If ADA successfully breaks above $0.92, the next target could be $1.00, which serves as both a psychological barrier and a key resistance level.&nbsp;
However, a failure to sustain this momentum could see prices revisiting support levels near $0.7477 or even $0.5778. Despite the overbought conditions, the golden crossover and overall momentum suggest that ADA is well-positioned for further gains in the near term, particularly if it continues to attract institutional interest and large-scale accumulation.
Highlighted Crypto News Today <a href="https://thenewscrypto.com/can-mog-coin-sustain-its-20-surge-and-break-its-ath/" target="_blank" rel="noopener noreferrer nofollow">Can Mog Coin Sustain Its 20% Surge and Break Its ATH?</a>

Cardano’s ADA Hits 2.5-Year High as Whales Surge 300%

Table of Contents

TheNewsCrypto

Other articles published on Nov 22, 2024

Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025

Crypto Giants Head to the White House: Trump’s Advisory Council Draws Attention

90% Surge in Memecoin Index Sparks Investor Optimism Amid New Listings

Top Meme Coins To Invest In Today, November 22 – Bozo, Yooshi, Doggy

AI Predicts Bitcoin’s Path to $140K: Intelligent Alpha’s New Crypto Strategy

Crypto Leaders Push for a Seat on Donald Trump’s Advisory Council

Join our free newsletter for daily crypto updates!