The crypto market has gained strong bullish momentum following Donald Trump’s recent election win. While Bitcoin races to new highs, the altcoin market is catching up with strong rallies. Leading the surge is Ethereum, which has set the pace for other coins. Its competitor, Cardano (ADA), has surged by 25% in just three days, breaking past the $0.43 barrier for the first time since July. This impressive rally is largely attributed to increased whale activity. Crypto analyst Abiodun Oladokun weighs in on ADA’s outlook.
Strong Demand for ADA
Data from Santiment reveals a recent spike in Cardano whale activity. According to the on-chain data provider, the number of transactions exceeding $100,000 has surged in recent days. On Thursday alone, 697 of these high-value transactions occurred, marking the highest single-day activity since September 5. This increase often signals heightened interest from key market players.
ADA Price Forecast: Key Levels to Watch
However, if ADA fails to hold the $0.40 support and a retest is unsuccessful, the price could drop to $0.31, which would invalidate short-term upside momentum.
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