Cardano Price Prediction as Bulls Trigger Massive Upswing – Can ADA Hit New Highs?

Last Updated: December 20, 2023 6:53 AM EST | 3 minutes of reading

Source: Dall•E 3

THE Cardano Price fell 1% in the past 24 hours, following the altcoin’s strong recovery from its seven-day low of $0.551437 on Monday.

ADA is up 7% from this low, while the token is up 4% in a week and 48% over the past 30 days, as well as 130% over the past year .

Such returns put ADA is well-positioned to continue making gains in the coming weeks, with the market’s expected bull rally in 2024 likely to push the altcoin even higher in the coming weeks.

Cardano Price Prediction as Bulls Trigger Massive Upswing – Can ADA Hit New Highs?

ADA’s technical continues to look strong, with the coin poised for further upside in the near term.

For example, after falling from almost 90 in early December, the coin’s RSI (purple) began to rise again, signaling incoming gains.

Source: TradingView

Likewise, ADA’s 30-day average (yellow) is also rising healthily above its 200-day average (blue), another sign that ADA’s rally of the past two weeks isn’t going to end anytime soon.

Supporting this claim, the coin’s 24-hour trading volume remains high compared to where it was a month ago, at $600 million from around $300 million.

It is also entirely debatable whether the rises of the past few weeks are just the tip of the iceberg when it comes to the expected 2024 bull market.

There are various reasons why analysts expect such a market, including The next Bitcoin halving in April And SEC likely approval of Bitcoin ETFs.

Together, these factors will increase the bullish trend across the market, and confidence will increase if the Fed cuts rates next year.

And a market-wide rally will push ADA, which arguably remains undervalued relative to its fundamentals.

Indeed, 2023 was a good year for Cardano, which increased its total value locked by 700% since January 1more than any other major layer one network.

Such growth is a result of the increase in the number of platforms running on Cardano, while around 1,300 are still in development, suggesting how big it could become in the coming months and years.

Based on such expansion, Cardano price is expected to reach $1 by the first months of 2024.

Promising Altcoins with Bullish Fundamentals

As fundamentally strong as ADA is, many traders may also be inclined to diversify into newer tokens, in order to increase their potential exposure to rallies.

Any diversified portfolio should also include a portion dedicated to pre-sale tokens, which can generate substantial momentum during their sales and thus rebound strongly once listed on an exchange.

A token that does this right now is TG.Casino (TGC), a decentralized gaming platform which raised more than $4.9 million during its soon-to-end sale.

Indeed, the TG.Casino presale only has $100,000 left to raise before it ends, meaning anyone who hasn’t yet invested should act as soon as possible.

The reason the presale is expected to sell out so quickly is because TG.Casino is offering something quite unique in the cryptocurrency industry.

It is an online, decentralized casino that runs on Telegram, the extremely popular social messaging app.

By leveraging Telegram’s existing communities, TG.Casino was able to grow its number of followers and users very quickly, with his channel now has more than 11,000 subscribers.

This is impressive for such a young project, but unlike most other presales, it helps that TG.Casino has already launched its betting platform.

TG.Casino pays out winnings in TGC, with which users can also bet, thus earning passive income.

The platform sale may end in the next day or two, but newcomers can still purchase TGC early by going to the official website of TG.Casino.

And given how quickly TG.Casino will raise $5 million, its TGC token could rebound impressively in the new year.

Visit TG.Casino now

Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.

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