Close Menu
  • Crypto News
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Trending

Bitcoin to $1M? Corporate Treasury Boom Could Spark Dot-Com Level Mania

July 27, 2025

Bitcoin Price Holds Above $115,000 — Here’s Why This Level Is Significant

July 27, 2025

ERA Soars 70% Weekly as Price Holds Above Key EMAs in High-Volume Surge

July 27, 2025

Former Binance CEO’s Alleged Support For Trump Initiatives: A Strategy For Pardon?

July 27, 2025

Analyst Predicts Bitcoin May Hit $130K if $110K Support Holds

July 27, 2025
Facebook X (Twitter) Instagram
  • Advertise
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianoru Русскийes Españolzh-CN 简体中文hi हिन्दीja 日本語
Crypto Observer
  • Crypto News

    Bitcoin to $1M? Corporate Treasury Boom Could Spark Dot-Com Level Mania

    July 27, 2025

    Former Binance CEO’s Alleged Support For Trump Initiatives: A Strategy For Pardon?

    July 27, 2025

    Bitcoin Price Could Still Tumble Down To $109,000 — This Chart Pattern Suggests So

    July 27, 2025

    AVAX Ready For Range Breakout

    July 27, 2025

    Bitcoin Price Holds Above $115,000 — Here’s Why This Level Is Significant

    July 26, 2025
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi
Facebook X (Twitter) Instagram
Crypto Observer
Home » Crypto News » Cardano Faces Minimal Resistance, Can ADA Double in Price in December? (Analysis)
Crypto News

Cardano Faces Minimal Resistance, Can ADA Double in Price in December? (Analysis)

Crypto Observer StaffBy Crypto Observer StaffNovember 28, 2023No Comments3 Mins Read
Facebook Twitter Pinterest Reddit Telegram Email LinkedIn Tumblr
Share
Facebook Twitter LinkedIn Pinterest Email

Cardano (ADA) is currently hovering within a very crucial demand zone, with potential for both new highs and corrective moves. The latest data suggests that the current price level of $0.37 is acting as a major support point for ADA, which could dictate its short-term trajectory.

The TD Sequential indicator also signals caution.

Minimal Resistance Ahead for Cardano (ADA)

According to popular crypto analyst Ali Martinez’s latest observation, ADA currently sits at a crucial demand zone, positioned between $0.37 and $0.38. This strategic zone, coupled with data indicating 166,470 wallets acquiring a substantial 4.88 billion ADA, has fueled optimism among traders.

ADA is facing minimal resistance on its path to potential new yearly highs. The key demand zone acts as a solid foundation, providing support for ADA to build upon its recent gains.

However, Martinez has urged traders to remain cautious and to closely monitor ADA’s performance, as a dip below the $0.37 support level could trigger a brief correction, potentially reaching $0.34.

“With minimal resistance ahead and solid support below, remaining above this zone could pave the way for $ADA to climb to new yearly highs. Still, watch out, as losing this support level could trigger a brief correction to $0.34.”

Further analysis reveals that the TD Sequential indicator for ADA has presented a sell signal on its weekly chart. This technical indicator suggests a potential shift in market dynamics. Losing the $0.37 support level, according to Martinez, might lead to a corrective move towards $0.34 or even $0.33.

ADA must successfully close above $0.40 to climb toward the next target, according to Martinez. As such, crossing this threshold could set the stage for the asset to make a sustained push toward $0.46, marking a pivotal point in its trajectory.

Martinez had previously pointed out that the existing consolidation pattern in Cardano bears a striking resemblance to the period between 2018 and 2020, excluding the market crash induced by COVID-19. In this scenario, there is a chance that ADA could exceed the $0.45 resistance level in the early weeks of December.

Should the upward momentum persist, ADA could hit $0.75 by the end of December.

Uptick in Developer Activity and On-Chain Metrics

Cardano faced significant challenges stemming from regulatory uncertainties and heightened competition from layer-2 networks like Base, Arbitrum, and Optimism in the second half of 2023.

Despite a temporary plateau, the network made a comeback with a notable surge in developer activity as it scored 572 throughout October and maintained its dominance in development activity within its public GitHub repositories.

Meanwhile, Cardano’s on-chain metrics also indicate a positive outlook. As reported earlier, the total count of addresses holding a balance on Cardano is hovering near its record high of 4.46 million. Additionally, a modest increase has also been observed in the number of active addresses.

Over the past month, the network has consistently maintained a transaction count of over 50,000, and the transaction volume has mostly stayed above $7 billion.



Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin to $1M? Corporate Treasury Boom Could Spark Dot-Com Level Mania

July 27, 2025

Former Binance CEO’s Alleged Support For Trump Initiatives: A Strategy For Pardon?

July 27, 2025

Bitcoin Price Could Still Tumble Down To $109,000 — This Chart Pattern Suggests So

July 27, 2025

AVAX Ready For Range Breakout

July 27, 2025
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Top Posts

Bitcoin to $1M? Corporate Treasury Boom Could Spark Dot-Com Level Mania

July 27, 2025

Bitcoin Price Holds Above $115,000 — Here’s Why This Level Is Significant

July 27, 2025

ERA Soars 70% Weekly as Price Holds Above Key EMAs in High-Volume Surge

July 27, 2025
Advertisement
Demo

Crypto Observer is your one-stop website for the latest crypto news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram
Crypto News

Former Binance CEO’s Alleged Support For Trump Initiatives: A Strategy For Pardon?

July 27, 2025

Bitcoin Price Could Still Tumble Down To $109,000 — This Chart Pattern Suggests So

July 27, 2025

AVAX Ready For Range Breakout

July 27, 2025
Get Informed

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Facebook X (Twitter)
  • Privacy Policy
  • Terms of use
  • Advertise with us | Publishing
  • Contact us
  • Crypto News – Press release
  • Newsletter sign up
  • Markets
  • Altcoins
  • Bitcoin
  • Crypto News
  • DeFi
  • Ethereum
  • Technology
  • Blockchain
  • AI
  • NFT
  • Thanks for joining us
© 2025 Crypto Observer. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.