The post Cardano’s $2 target : Why buying ADA now makes sense appeared on BitcoinEthereumNews.com.

ADA has proven its resilience, fending off bearish pressure and holding strong above the $1 mark—a level it fought hard to reclaim. With the New Year excitement on the horizon, the stage is set for a potential surge. Cardano [ADA] has soared with triple-digit gains over the past 30 days, breaking free from a three-year slump to reclaim the $1 benchmark and secure its spot as the second-best-performing altcoin. While big players have taken advantage of the ‘dip’ to accumulate ADA, its price action has yet to deliver the robust bullish momentum many anticipated. Nonetheless, the broader market optimism continues to keep ADA in the spotlight of speculation. As major caps remain firmly in the green and investors seek to mitigate risks with Bitcoin nearing a critical psychological level, could Cardano emerge as a rightful beneficiary of this momentum? Critical three weeks ahead for ADA In just 20 trading days since the Trump-pump, ADA surged past the $1 mark. Despite warning signs of a correction, with many indicators pointing to overextended positions, Cardano bulls held strong, avoiding a major pullback. However, the past week saw momentum slow, even with Bitcoin breaking $100K. This suggests that investors are uncertain about the altcoin’s position in the current market, with caution creeping in. So, unless Bitcoin makes a strong rebound, holding $104K and flipping the current price band into solid support, the market is likely to see short-term fluctuations. Yet, looking ahead, the next three weeks could see heightened activity before Q4 wraps up and the euphoria of the new year kicks in. ADA bulls must seize this window of opportunity to capitalize on any momentum while holding the current price. Source : TradingView Historically, the December to February period has been a time of high liquidity for Cardano, with ADA consistently showing significant movement…

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Filed under: News - @ December 8, 2024 6:11 pm