CandleFocus Cardano (ADA) Price Prediction For November 2024
2024-11-22
Author: Content Editor
Cardano (ADA) has seen strong upward momentum, with a gain of over 43% in the past week. On-chain analytics firm IntoTheBlock reports a 30% increase in large transaction volume, suggesting participation from whales and institutions and indicating a strong buying opportunity. Daily active addresses have also surged by 42%, signaling increased activity from traders and investors. The altcoin has seen a growth in open interest (OI) by 5.76% in the past 24 hours and 3.15% in the past hour, indicating strong trader participation and contributing to the rally. Strong technical analysis suggests ADA could reach $1 in the coming days, with the altcoin breaking a resistance level and showing bullish momentum after a consolidation period. However, trading volume has dropped by 30% in the past 24 hours, indicating lower participation compared to the previous day. At the time of writing, ADA is trading near $0.83 with a 3.84% price surge.
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