Cardano (ADA) price has experienced a notable rise over the past 30 days, in line with the broader market surge. This positive movement comes as investor interest grows, fueled by the cryptocurrency market’s overall rally. ADA’s upward trajectory is part of a larger trend seen across many altcoins, which have also shown impressive gains recently. The altcoin’s surge coincides with speculation that Donald Trump’s newly appointed SEC chairman could be a supporter of Cardano, potentially adding further momentum
Cardano Price Forecast Could ADA Soar With Trump’s Supportive SEC Nominee
The Cardano price has recently captured the attention of investors. This comes after Donald Trump’s endorsement of a potential new SEC (Securities and Exchange Commission) nominee who strongly supports cryptocurrencies. This surprising political alignment could have significant implications for the price of ADA, which has increased in recent months.
The prospect of a more crypto-friendly SEC leader has fueled optimism within the crypto market. Investors hope the new nominee will take a more lenient stance on crypto regulation. This could allow projects like Cardano, often seen as a technically superior yet undervalued blockchain, to gain more traction.
Trump’s SEC pick has literally spoken at a #cardano summit.
HIGHER. $ADA https://t.co/WgUTz97Nqe pic.twitter.com/jo6JuU4syD
— ADA ape || “APE” (Pool) (@TheADAApe) December 4, 2024
ADA Price Bulls Eyes $3 Resistance Level
The latest ADA price is trading at $0.7522, marking a 14% increase over the past week. During this time, the cryptocurrency has experienced notable price fluctuations, ranging between $1.17 and $1.24.
The volatility reflects strong market movements and heightened investor activity. ADA’s impressive price surge of 260% in the last seven days signals bullish sentiment and growing market interest.
At this stage, investors are keenly watching the $1.25 resistance level, hoping that a breach of this price point could trigger further upward momentum. If the Cardano price prediction surpasses this level, it may aim for the next significant resistance at $2. If buying pressure continues, the best altcoin could reach as high as $3.
Cardano Price Chart: TradingView
Currently, the overwhelming majority of contracts, 88.57%, are IntotheMoney, representing a value of $37 billion ADA. In contrast, only 3.62% of contracts, or $1.53 billion ADA, are OutThe Money, while a minor 7.81%, totaling $3.29 billion ADA, are ATM. The data, aligned with a current ADA price, provides investors with a comprehensive overview of the market’s potential movement and sentiment.
Source- IntoTheBlock
Cardano’s price surge and potential support from a crypto-friendly SEC leader present a promising outlook. ADA could see significant gains if momentum persists, targeting higher resistance levels.
The post Cardano Price Prediction as Trump’s New SEC Pick Could Be ADA Supporter appeared first on CoinGape.
