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Cardano

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<p dir="ltr"><a href="https://u.today/cardano-ada-journeying-to-150-mark-again" rel="noopener noreferrer nofollow">Cardano</a> (ADA) can soar as high as 66% in December if the altcoin’s historical precedence is repeated. Based on <a href="https://cryptorank.io/price/cardano/analytics" rel="noopener noreferrer nofollow">Cryptorank data</a>, ADA has an average growth rate of 66.8% for December, providing a generally bullish month for the coin. Picking up from the bullish outlook in November, ADA has the chance to pull off a more stunning rally this month.</p>
<h2 id="cardano-s-historical-december-performance">Cardano’s historical December performance</h2>
<p dir="ltr">Cardano's price has the right setup to repeat its performance if the current momentum is sustained. ADA was trading at $1.14 as of this writing, having increased by 6.60% 24 hours earlier. Its market volume has also soared by 214.52% to $4.29 billion.</p>
<p dir="ltr">This bullish development has been a pattern with Cardano in the last month of the year. In December 2021, ADA peaked at $1.72, about three months after its all-time high of almost $3. The asset has maintained a steady uptick in price as it has overcome bearish sentiment.</p>
<p dir="ltr">Cardano has already commenced its climb, with analysts anticipating it could test $10. As earlier <a href="https://u.today/cardano-ada-hits-1-milestone-fibonacci-maps-whats-next" rel="noopener noreferrer nofollow">reported by U.Today,</a> an analyst using the Fibonacci indicator suggests that the next target for ADA could be $2.453.</p>
<p dir="ltr">However, the Fibonacci sequence corresponding to the 2.618 Fibonacci level will see ADA hit $8.30 as its next key target.</p> <img src="https://u.today/sites/default/files/inline-images/Cardano%20Historical%20Charts.png" data-entity-uuid="0bf58c6c-d760-4e8a-b1c5-80845761cd2e" data-entity-type="file" alt="Cardano Historical Price Chart Via Cryptorank" data-caption="<a href=&quot;https://cryptorank-images.s3.eu-central-1.amazonaws.com/snapshots/9deb23a0e71133b3a3d75e1d.png&quot;>Cardano Historical Price Chart Via Cryptorank</a>">
<p dir="ltr">Away from these projections, repeating the 58.1% rally scored in December 2023 will peg the price of ADA at a high of at least $1.70.</p>
<p dir="ltr">However, ADA skyrocketed by 216% in November, and repeating this might help it retest its ATH of $3.10.</p>
<h2 id="fundamental-backing">Fundamental backing</h2>
<p dir="ltr">Beyond its historical precedence, Cardano also has a series of fundamental backings that might help it sustain a positive growth trend for the rest of the year. The hype around ADA is currently high, from the<a href="https://u.today/charles-hoskinson-breaks-silence-on-quantum-hosky" rel="noopener noreferrer nofollow">Quantum Hosky innovation</a> to the Chang hard fork update.</p>
<p dir="ltr">Also, Bitcoin is making moves to retest the $100,000 price mark. Despite the headwinds and corrections, the sentiment remains bullish. ADA can lean on its correlation with BTC to claim new highs this month.</p> <a href="https://u.today/cardano-eyes-66-upswing-in-december-if-ada-price-follows-history" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Cardano Eyes 66% Upswing in December If ADA Price Follows History

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