Cryptocurrency analyst Ali Martinez shared an analysis on the price movement of Cardano (ADA), on November 27th. According to the expert, the Cardano cryptocurrency is in a key demand zone between the $0,37 and $0,38 price levels.
In this price zone, 166.470 wallets purchased 4,88 billion ADA tokens, as noted by the analyst. At the time of publication, the cardano price was quoted at US$ 0,379106 down 3.1% in the last 24 hours.
Martinez highlighted in his analysis two key points for the ADA price reach new annual highs soon.
“With minimal resistance ahead and solid support below, staying above this zone could pave the way for $ADA to rally to new yearly highs.”
The analyst also added warning that loss of support could trigger a brief correction in the cryptocurrency's price. “Still, be aware that loss of this support level could trigger a brief correction to $0,34.”
With minimal resistance ahead and solid support below, remaining above this zone could pave the way for $ ISLANDS to climb to new annual highs. Still, watch out, as losing... pic.twitter.com/GDjhspFSVr
— Ali (@ali_charts) November 27, 2023
Given the recent highs, the cardano price has seen considerable growth in recent days. The cryptocurrency has registered an increase of 31.1% in the last 30 days.
Analysts Predict Cardano (ADA) Rise of 100% by the End of the Year
ADA shows rise until the end of the year, say scholars.
O cryptocurrency market, now seems focused on Cardano (ADA), one of the most promising digital currencies, because analysts believe in the rise of crypto, which could reach 100% by the end of the semester. Recently, ADA has attracted attention for its exceptional performance, with a 50% increase in the last month. This upward movement has generated optimistic speculation among experts, who predict an even more significant increase in the currency's price by the end of the year.