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The Cardano price has surged 15% in the last 24 hours to trade at $1.10 as of 8.40 p.m. EST on a 131% pump in trading volume to $2.7 billion.
This price jump has made ADA the top trending cryptocurrency by market capitalization, according to CoinMarketCap.
Cardano Price May Continue The Uptrend
The ADAUSDT price action on the daily timeframe shows a transition from bearish momentum to a bullish breakout. From May to September, ADA traded within a defined bearish channel, characterized by lower highs and lower lows, reflecting consistent selling pressure.
Eventually, the price stabilized in a support zone between $0.22 and $0.30, a consolidation phase indicating that buying interest was starting to build. This period of accumulation created a strong base for the subsequent breakout in late October.
ADAUSDT Analysis Source: Tradingview
The breakout is accompanied by a parabolic price move, signaling a surge in bullish sentiment and momentum. ADA rapidly climbed past significant resistance levels, including the 50-day moving average at $0.53 and the 200-day moving average at $0.99, confirming a bullish trend reversal.
Cardano Price Bulls Anticipate A Push Upwards To $1.40
The price also formed a critical support level at $0.80, which has been tested and held multiple times during pullbacks in November and December. This support level now serves as a strong foundation for further upward movements. The chart’s dotted yellow line projects a target price of $1.40, suggesting that the bulls still have the opportunity to catapult Cardano price higher.
At present, ADA is trading around $1.09, with a daily high of $1.14 and a low of $1.07. The Relative Strength Index (RSI) is at 62.66, indicating strong bullish momentum but approaching overbought territory. This suggests that while buyers remain in control, traders should be cautious of a potential slowdown or minor correction.
Key resistance near $1.20 could serve as a hurdle before the price continues toward the projected target. If the $0.80 support holds firm during any dips, it would reinforce ADA’s bullish case and provide a launchpad for the next leg of its rally.
The combination of strong support, bullish technical indicators, and a parabolic trajectory suggests that ADA is well-positioned for further growth in the coming weeks.
Excitement Grows As Best Wallet Presale Races Past $6.3 Million
Even as the Cardano price continues its bullish momentum, more investors are turning to buy Best Wallet (BEST) as excitement continues to grow around its presale, which has already raised over $6.3 million.
An analyst from the popular YouTube channel 99Bitcoins, with over 719k subscribers, says BEST is a potential game-changer.
As an all-in-one platform for accessing the Web3 ecosystem, Best Wallet combines a decentralized exchange (DEX), wallet functionality, and a suite of tools designed to simplify crypto asset management.
One standout feature is its “Upcoming Tokens” section, which enables users to discover promising tokens before they hit the broader market.
The feature already has a strong track record. It flagged Catslap (SLAP) to BEST Wallet users, and the viral meme coin saw a massive surge of over 3,500% for early investors.
All the tools you need, in one place.
From managing your assets to trading with confidence, Best Wallet makes crypto simple and secure. Insights, tools, and enhanced features—all at your fingertips. 🔥
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— Best Wallet (@BestWalletHQ) January 2, 2025
Among its top picks now are Meme Index (MEMEX), an innovative new project that’s already raised over $1.72 million in presale funding.
Investors can also stake their BEST tokens early to take advantage of a huge annual return of 323%. However, time is of the essence, as the APY decreases daily as more investors join in staking.
In addition, investors can join the Best Wallet airdrop to earn $BEST tokens by completing simple quests, growing their rewards daily, and effortlessly stacking tokens.
Join the Best Wallet airdrop! 🚀
Complete quests, earn $BEST tokens, and watch your rewards grow. It’s quick, easy, and the best way to stack tokens daily. ⚡️
Start now! 📲 https://t.co/he5kzra7TY pic.twitter.com/Xo9uefPYTT
— Best Wallet (@BestWalletHQ) January 3, 2025
To participate in the presale, simply purchase BEST tokens, currently priced at $0.023475. Buy before a price hike in less than 2 days for the best deal.
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