Ada has had an impressive rally since the beginning of the crypto market on resuscitation. And the high price is continuing right now.
For example, it increased by 24.8% over the past week. During the previous two months, the price increased by 90.8%.
In total, its value increased by 84% over the past three months. At the time of writing Ada is traded to $ 0.78 ADA/USDT on gate.io. The following graph shows ADA’s price movement in the last seven days.
As observed on the graph, Ada performed outstanding over the past three weeks. However, the trend seems to have weakened as there is a doji at the height of the current chart. Therefore, the market should continue to look to find whether the trends will remain.
Before its last price surprise, Ada had a sluggish performance. In fact, it had been one of the worst practitioners during the first ten months of the year. As a result, between January and October, Cryptocurrency lost about 40% of its value in 2024. However, in November it recovered its six -month losses within a week.
Like many other leading crypto courses, ADA’s achievements are linked to the change in the feeling of crypto market due to Trump’s victory for presidential elections. But it seems to be much more behind this rally.
Ada rally at Hoskinson-Trump Collaboration Rumors
As highlighted earlier, November 10 Ada Price Stige with over 40% to surpass its April height of $ 0.597. Its intradag -rally was mainly caused by rumors that Charles Hoskinson, Cardano founder, could become one of Trump’s advisers on issues related to Cryptocurrencies. But in his Youtube -Livestream, Hoskinson said they would set up an office to get involved in the Trump administration in 2025. He did not mention that he had been invited to be one of Trump’s advisers.
The Cardano founder also explained that he had previously spent a lot of time with the American decision makers in an attempt to create digital asset rules that will promote innovation in the sector. He explained, “Cryptop policy should be written by the American people, by the American crypto industry and by well -meaning legislators who are willing to take the time to listen.”
Hoskinson aims to create a policy team that will work with various elements that can become useful efforts in the US political framework. His policy office will cooperate with legislators and politicians to moderate crypto lactors. Apart from this, Hoskinson said that the cryptos sector requires regulatory clarity that will affect all cryptocorate including XRP, Bitcoin and ether.
It is important to note that from November 10 had not mentioned the need to create a Cryptocurrency group. Despite the absence of an official announcement of a possible working group that will advise the Trump administration in Krypto -related issues, rumors were good enough to pump Ada.
Cardano technical analysis
Historically, ADA had been in a falling channel that has been broken over the past three weeks. At this time, the market is waiting to see if the coin will retain its price above that channel. The ADA price has already risen above 0.718 Fibonacci retracing level. Therefore, if it fails to maintain the upward pressure, its value may fall to 0.6-0,582 FIB level. On the other hand, if there is an increase in purchase activity, the price can rise to 0.786 Fibo line located about $ 0.75. It is important that a breakout above that point can Predict the price to reach 1 139 $ Ada/USDT. Nevertheless, it can reach that price level during the first quarter of 2025.
Several technical indicators support ADA’s Haussearted dissertation. For example, access has a current fear and greed reading of 69%. This indicates that it may be the best time to buy Cryptocurrency. The current ADA price prerequisite shows that it can reach a value of about $ 0.77 at the end of the month. In addition, almost all its moving averages, including 50-day EMA, 100-Fema and 200-day EMA, confirm their haus-like trend. However, its relative strength index has a reading of 77 that indicates an over -bought market permit. The average directional index, with a reading of 16.71, shows low volatility.
Is Cardano a good investment?
Given its current impressive performance, many people want to know if ADA is a good investment supply?
Cardano’s technology and basics show that it can be a good investment supply. Blockchain is known for being a safe and cost -effective network. There is also a great opportunity that the price can increase significantly. For example, 2021 rose the price to $ 3.09 which is its current ATH. Thus, if it replicates a similar momentum, people who invest in it can now have triple returns. Apart from shopping, ADA investors can take advantage of the coin.
Cardano has a very promising roadmap that can create more value for investors. For example, several upgrades that include Byron, Shelley, Goguen, Basho and Voltaire will take place in the future. Finally, Cardano has the chance to create many partnerships that can help drive the ADA value up.
