Cardano

Million

The Cardano price has tumbled 3% in the last 24 hours to trade at $1.16 as of 11:23 a.m. EST on a 25% pump in trading volume to $1.9 billion.
This comes after Cardano Foundation’s X account was compromised on December 8 by a threat actor promoting a fake “ADAsol” token and claiming that the foundation would halt support for Cardano’s ADA due to a lawsuit from the US Securities and Exchange Commision (SEC).
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Cardano Foundation X account has been hacked.
 There is no SEC lawsuit and <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> will not be shut down or burned.
 Please stop liking and retweeting those tweets. <a href="https://t.co/2QawLbYG7Y" rel="noopener noreferrer nofollow">pic.twitter.com/2QawLbYG7Y</a>
 — Sssebi🦁 (@Av_Sebastian) <a href="https://twitter.com/Av_Sebastian/status/1865780175691989043?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 8, 2024</a>
</blockquote>
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The ADAsol token generated approximately $500K in trading volume and rapidly crashed by 99%, after which Cardano founder Charles Hoskinson confirmed the hack in social media posts.
<h2 id="cardano-price-could-still-soar-from-here">Cardano Price Could Still Soar From Here</h2>
The ADA/USD chart displays a strong uptrend, particularly noticeable in the steep rally beginning in late October and extending into November. Currently, the Cardano price is consolidating around the $1.2 range within a rising channel, marked by parallel blue trendlines, indicating a steady but controlled uptrend, according to data from <a href="https://www.geckoterminal.com/bsc/pools/0x673516e510d702ab5f2bbf0c6b545111a85f7ea7" rel="noopener noreferrer nofollow">GeckoTerminal</a>.
While <a href="https://www.coingecko.com/en/coins/cardano" rel="noopener noreferrer nofollow">the Cardano price</a> is still in an overall bullish channel, the recent candles suggest a slowdown in momentum, as it is testing the lower boundary of the channel.
The correction within the lower boundary of the rising channel has pushed the price of Cardano to trade slightly below the 50-day Simple Moving Average (SMA), but still trades well above the 200-day SMA, which shows that the asset could still soar.
Moreover, the Relative Strength Index (RSI) is at 44.91, trending downwards after being in overbought conditions earlier in the trend. The RSI below 50 indicates waning bullish momentum, suggesting caution as the trend could be losing strength.
A breakdown further below the lower channel trendline (around $1.15) could lead to a drop toward the $1.00 region, a formidable support level.
<figure id="attachment_608140" aria-describedby="caption-attachment-608140" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-608140" src="https://insidebitcoins.com/wp-content/uploads/2024/12/Pancakeswap-V3-BSC_GeckoTerminal.com_ADA_2024-12-09_07-23-11.png" alt="Cardano Price Chart Analysis Source: GeckoTerminal.&nbsp;" width="2051" height="875" srcset="https://insidebitcoins.com/wp-content/uploads/2024/12/Pancakeswap-V3-BSC_GeckoTerminal.com_ADA_2024-12-09_07-23-11.png 2051w, https://insidebitcoins.com/wp-content/uploads/2024/12/Pancakeswap-V3-BSC_GeckoTerminal.com_ADA_2024-12-09_07-23-11-300x128.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/12/Pancakeswap-V3-BSC_GeckoTerminal.com_ADA_2024-12-09_07-23-11-1024x437.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/12/Pancakeswap-V3-BSC_GeckoTerminal.com_ADA_2024-12-09_07-23-11-768x328.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/12/Pancakeswap-V3-BSC_GeckoTerminal.com_ADA_2024-12-09_07-23-11-1536x655.png 1536w, https://insidebitcoins.com/wp-content/uploads/2024/12/Pancakeswap-V3-BSC_GeckoTerminal.com_ADA_2024-12-09_07-23-11-2048x874.png 2048w" sizes="(max-width: 2051px) 100vw, 2051px">
 <figcaption id="caption-attachment-608140" class="wp-caption-text">
 ADAUSD Chart Analysis Source: GeckoTerminal.
 </figcaption>
</figure>
If the price holds above the lower boundary of the rising channel, it could rebound and continue targeting the upper trendline near $1.30–$1.35 in the short term.
Meanwhile, investors are piling into the <a href="https://insidebitcoins.com/visit/bestwalletpresale" rel="noopener noreferrer nofollow">Best Wallet ($BEST)</a> presale, which has surged past $3 million in funds raised.&nbsp;
ClayBro, a popular crypto analyst on YouTube with over 132K subscribers, says that BEST ”Could Be The Best Crypto Wallet Of 2025.”
<iframe title="This Could Be The Best Crypto Wallet Of 2025! Loaded With Exclusive Features!" width="640" height="360" src="https://www.youtube.com/embed/4Oakm5v5JiM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="best-wallet-raises-over-3-million-in-blockbuster-presale">Best Wallet Raises Over $3 Million In Blockbuster Presale</h2>
Best Wallet is a Web3 crypto wallet that offers advanced features and an intuitive interface. The platform allows users to access exclusive tools like “Upcoming Tokens” for presale participation, including its own native token, $BEST.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Best Wallet Family, are you using the Upcoming Tokens feature yet? 👀
 It’s the easiest way to buy, track, and trade your presale tokens in one app. All the tools you need, right where you need them. ⚔️
 Download now! 📲 <a href="https://t.co/AALEwrMCmn" rel="noopener noreferrer nofollow">https://t.co/AALEwrMCmn</a> <a href="https://t.co/ZXu3xC1zqz" rel="noopener noreferrer nofollow">pic.twitter.com/ZXu3xC1zqz</a>
 — Best Wallet (@BestWalletHQ) <a href="https://twitter.com/BestWalletHQ/status/1862547012585234842?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 29, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
“Upcoming Tokens” is a game-changing tool that could give investors a valuable edge in the crypto space. By allowing them to get in on potentially high-value investments before they hit the mainstream, it positions these investors ahead of the curve in crypto’s fast-paced, ever-evolving market.
Tokens like <a href="https://insidebitcoins.com/visit/catslap" rel="noopener noreferrer nofollow">Catslap ($SLAP)</a>, which was featured on the app, achieved an impressive 2,000% return after launch, cementing Best Wallet’s reputation as a go-to platform for uncovering hidden crypto gems. 
Blockbuster presale Pepe Unchained (PEPU), the most successful presale of the year after raising about $73 million, was also flagged early by Upcoming Tokens. It’s scheduled to launch tomorrow.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 No more missing out on early-stage <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> projects! 💸
 With Best Wallet’s Upcoming Tokens feature, you can easily browse, learn, and buy presale tokens directly from the app!
 Download now! 👉 <a href="https://t.co/he5kzra7TY" rel="noopener noreferrer nofollow">https://t.co/he5kzra7TY</a> <a href="https://t.co/ZcNZ1b6Up1" rel="noopener noreferrer nofollow">pic.twitter.com/ZcNZ1b6Up1</a>
 — Best Wallet (@BestWalletHQ) <a href="https://twitter.com/BestWalletHQ/status/1850145407763873939?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 26, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
You can buy $BEST for $0.023025, but act before its price increases in less than 32 hours
Join the presale at <a href="https://insidebitcoins.com/visit/bestwalletpresale" rel="noopener noreferrer nofollow">the official $BEST Token website here</a>.&nbsp;
<h2 id="related-news">Related News</h2>
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 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/catslap-meme-coin-price-prediction-will-slap-continue-its-upward-trend" rel="noopener noreferrer nofollow">Catslap Meme Coin Price Prediction – Will $SLAP Continue Its Upward Trend?</a></li>
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Cardano Price Prediction: ADA Drops 3% After Cardano Foundation X Account Hack As This Crypto Wallet Token Raises Over $3 Million In Presale

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