Cardano

bullish

Intern

<a href="https://www.thecoinrepublic.com/2024/12/04/cardano-news-ada-rises-amid-defi-growth-and-etf-speculation/">Cardano</a> (ADA) has recorded intriguing stability in the past seven trading days. ADA, despite fluctuations, has stayed above the $1 mark as it continues to align with the general bullish trend. Cardano whales might have a role in the stability being witnessed with the asset. 
<h2 class="wp-block-heading" id="h-whale-activity-and-bullish-momentum">Whale Activity and Bullish Momentum</h2> 
Ali Martinez, a renowned on-chain analyst, shared a notable development on X regarding the protocol. 
In his post, Martinez highlighted that in the last 24 hours, Cardano whales purchased over 100 million ADA. At the current market price, this is worth over $122 million. 
The activity of whales is closely monitored, given the influence they exert on the market. Hence, experts have seen this large purchase as suggesting a strong confidence level in ADA’s potential. 
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They argue that the<a href="https://www.thecoinrepublic.com/2024/11/27/whales-buy-as-cardano-price-turns-bullish/"> whales’ buying spree</a> signals a possible expected price increase or a development that could trigger a further price surge. 
Cardano’s price has largely risen with the Bitcoin (BTC) rally. ADA has benefitted from Bitcoin surpassing the $100,000 level, with analysts speculating it could hit $2 this December. 
However, this prediction of sustained bullish momentum for BTC is hinged on the broader market. Meanwhile, Martinez predicts the price could soar if Cardano forms an ascending triangle on its 4-hour chart. 
This implies that ADA might witness a breakout once it hits the $1.50 mark. The ascending triangle’s minimum target is already in sync with the projected price of $1.50. 
Therefore, if ADA sustains this momentum, investors could receive significant returns following the breakout. This could explain the whale’s action. These large buyers might take favorable positions ahead of a price breakout. 
With several technical indicators pointing at further growth, experts think that with a sustained bullish trend, ADA may convert the $1.30 level into steady support. 
Analysts like Javon Marks<a href="https://www.thecoinrepublic.com/2024/12/04/cardano-news-ada-may-target-7-in-2025-bullish-projections/"> predict ADA may hit $7</a> by 2025 if these scenarios play out. 
<h2 class="wp-block-heading" id="h-battling-cardano-s-skeptics-and-naysayers">Battling Cardano’s Skeptics and Naysayers</h2> 
Despite these developments, Cardano faces challenges from naysayers who talk down on the blockchain. 
In an X post, the Cardano Intern account listed the top nine crypto influencers that those in the community should avoid listening to. 
According to Cardano Intern, these influencers have repeatedly labeled Cardano with unpleasant tags. 
James Mullarney, founder and host of InvestAnswers, for instance, despite Cardano’s soaring potential, insists on calling Cardano “garbage.” 
In a chart showing liquidations, Mullarney could not bring himself to acknowledge the rising potential of ADA. Hence, Cardano Intern believes community members should avoid him and his negative talks. 
Similarly, Marty Party, a crypto commentator in a recent interview, claimed that Cardano would drop. 
Marty Party also stated that holders would not sell. However, the whale action proved that Party needed to correct his prediction. 
Other critics include Alex Becker, who, on November 25, predicted that ADA would go back to zero shortly after it flipped $1. 
“At least we will get to watch Cardano go back to zero and chuckle again,” he wrote. However, ADA appears to have set itself on a bullish path and disproved Becker’s claims. 
<h2 class="wp-block-heading" id="h-road-ahead-for-ada">Road Ahead for ADA</h2> 
<a href="https://www.thecoinrepublic.com/price-prediction/cardano/">ADA price</a> was trading for $1.183 at the time of writing, down by 1.43% following a temporary flash crash. 
The market has also climbed significantly by 54% to $3.17 trillion, signaling latent investors’ interest. Traders now look for sustained momentum in the coming days and hope ADA can breach the $1.30 level. 
If this happens, proponents of the coin see the psychological $2 mark as the next target. 
The post <a href="https://www.thecoinrepublic.com/2024/12/09/cardano-whales-intensifies-buying-is-ada-ready-for-a-2-ride/">Cardano Whales Intensifies Buying, Is ADA Ready for a $2 Ride?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Cardano Whales Intensifies Buying, Is ADA Ready for a $2 Ride?

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