If the altcoin’s historical trend continues, Cardano (ADA) might reach a peak of 66% in December. December is a relatively optimistic month for ADA, with an average growth rate of 66.8%, according to Cryptorank statistics. ADA has the opportunity to execute a more spectacular climb this month, building on the optimistic view from November.
Cardano’s historical December performance
If the present momentum is maintained, the price of Cardano is in a position to replicate its performance. As of this writing, ADA was trading at $1.14, up 6.60% over the previous day. At $4.29 billion, its market volume has likewise increased by 214.52%.
In the final month of the year, Cardano has shown a trend of this positive development. About three months after reaching its highest point of nearly $3, ADA reached its top of $1.72 in December 2021. After overcoming pessimism, the asset’s price has continued to rise steadily.
Cardano has already started to rise, and many predict that it may reach $10. The next objective for ADA, according to an expert utilising the Fibonacci indicator, may be $2.453, as U.Today previously reported.
However, ADA’s next major aim will be $8.30, which corresponds to the Fibonacci sequence and the 2.618 Fibonacci level.
Despite these forecasts, a recurrence of the December 2023 rise of 58.1% would place the price of ADA at a minimum of $1.70
But ADA jumped 216% in November, and if it does this again, it might retest its all-time high of $3.10.
Fundamental backing
In addition to its historical precedent, Cardano has a number of strong foundations that might support it in maintaining a strong growth trajectory for the remainder of the year. From the Chang hard fork upgrade to the Quantum Hosky invention, ADA is now the subject of a lot of excitement.
Additionally, Bitcoin is attempting to retest the $100,000 price threshold. The attitude is still strong in spite of the challenges and declines. ADA can reach new highs this month by relying on its relationship with Bitcoin.
