\n#Cardano<\/a> | In the last three months, there’s been a significant increase in $ADA<\/a> transactions over $100,000, reaching new highs consistently.<\/p>\n
This surge points to growing interest in #ADA<\/a> from institutional players and whales, which is usually a precursor to price spikes. pic.twitter.com\/APczM2PGxM<\/a><\/p>\n
\u2014 Ali (@ali_charts) December 4, 2023<\/a><\/p><\/blockquote>\n
Notably, while transactions can significantly impact a crypto’s market dynamics, when whales accumulate an asset, it often reduces circulating supply, creating potential upward pressure on prices.<\/p>\n
Conversely, when they sell, it can result in a sudden increase in supply, leading to price drops. In ADA’s case, the recent whale activities have coincided with a positive price trajectory<\/a>.<\/p>\n
ADA Bullish Trajectory And Market Outlook<\/h2>\n
ADA’s market performance has mirrored the growing whale interest. In the last 24 hours alone, the crypto asset has experienced a 2.2% increase<\/a>, and over 5% in the past week.<\/p>\n
Cardano (ADA) price is moving sideways on the 4-hour chart. Source: ADA\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n Although ADA has seen some retracement from its recently achieved peak above the $0.41 mark, it currently maintains a steady position in the $0.40 zone. This bullish trend is further supported by a surge in ADA’s trading volume, which has doubled from $250 million to over $500 million in a week.<\/p>\n
This increase in trading activity and price aligns with the predictions of another analyst, Dan Gambardello. Gambardello has identified bullish setups<\/a> in Bitcoin, Ethereum, and ADA, projecting that ADA could climb to $0.45 in the short term, with a longer-term target of $0.80-$0.85.<\/p>\n
The analyst attributes his optimistic forecast to the growth and resilience of the Cardano ecosystem, even amid the recent broader market’s bearish trends.<\/p>\n
\nGROUNDBREAKING MOMENT: Bitcoin, Cardano, Ethereum Setup For BULL MARKET https:\/\/t.co\/cPfZzIVCxh<\/a><\/p>\n
\u2014 Dan Gambardello (@cryptorecruitr) December 4, 2023<\/a><\/p><\/blockquote>\n
Recent data from DeFiLlama reveals<\/a> a notable uptick in Cardano\u2019s ecosystem, with its Total Value Locked (TVL) experiencing over 20% growth in the past month, currently standing at $275 million.<\/p>\n
Cardano (ADA) total value locked (TVL) in the past year. | Source: Defillama<\/a><\/figcaption><\/figure>\n Although this figure is below its March 2022 peak of over $300 million, the ecosystem\u2019s approach toward this previous high point reflects its resilience, as indicated by Gambardello amid the recent bearish market sentiments.<\/p>\n
Cardano\u2019s Ecosystem: A Catalyst For Future Growth?<\/h2>\n
Gambardello’s enthusiasm for Cardano extends beyond its current market performance. The analyst believes that the Cardano ecosystem’s development during the bear cycle positions it for significant growth in the future.<\/p>\n
Gambardello predicts that Cardano could soon account for 1% of the total crypto market capitalization. Such a milestone would be a testament to the asset’s ecosystem robustness and innovation, potentially leading to ADA’s substantial rise in the next bull run.<\/p>\n
Notably, Gambardello isn’t the only analyst predicting a bullish future for ADA. In a recent post on X, Ali highlighted ADA\u2019s presence in a crucial demand zone<\/a>. The analyst pointed out that the price levels around $0.37 to $0.38 have seen substantial buying activity, with over 166,470 wallets acquiring ADA in this range.<\/p>\n
\n#Cardano<\/a> sits at a key demand zone between $0.37 and $0.38. Here, 166,470 wallets acquired 4.88 billion $ADA<\/a>.<\/p>\n
With minimal resistance ahead and solid support below, remaining above this zone could pave the way for $ADA<\/a> to climb to new yearly highs. Still, watch out, as losing\u2026 pic.twitter.com\/GDjhspFSVr<\/a><\/p>\n
![\"Cardano](\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Screenshot-2023-12-04-at-16.38.03.png?w=860&resize=860%2C372\")