As the majority of assets in the cryptocurrency market take a bullish turn, Cardano (ADA) is no exception, recording increases on all of its charts and getting very close to surpassing the psychologically important price threshold of $0.40. So, is it already too late to invest in it?
Indeed, Cardano has been on a consistent upward move for the last six consecutive weeks, having grown in value as much as 59% – from about $0.245 on October 12 to the current $0.39, as per the most recent information retrieved by Finbold on November 24.
On top of that, data has shown that one out of three Cardano holders, or specifically 36% at press time, were in profit, thanks to the price increases that were the result of optimism created by persistent efforts of the team centered at Input Output Global (IOG) on developing a fully decentralized ecosystem.
That said, Cardano’s present price is a mere fragment of what it could be, considering that at its all-time high (ATH) two years ago, on September 2, 2021, the ninth-largest cryptocurrency by market capitalization was changing hands at $3.09, or 690.28% higher than where it currently stands.
Meanwhile, Cardano’s price at the time of publication represents a 2.25% increase in the last 24 hours, a gain of 6.18% across the previous seven days, and a more significant 39.13% advance in the past month, as its latest charts demonstrate.
Cardano price predictions
When considering the timing to invest in Cardano, price predictions could be a useful tool, and artificial intelligence (AI) algorithms see further increases in the future of this asset, including those deployed at the crypto analytics platform CoinCodex, which expects its price to reach $0.8617 in the next three months.
Furthermore, renowned pseudonymous crypto analyst CoinsKid has recently observed that “Cardano could be gearing up for a MASSIVE move up to $0.7497 and $1.80 eventually,” which represent two “key areas of untapped resistance,” as Finbold reported on November 21.
It is also important to note that expert crypto trader Ali Martinez earlier observed that Cardano’s consolidation trend mirrored that of the 2018-2022 phase, meaning that it could break through the $0.45 resistance soon and proceed toward $0.75 by the end of December.
All things considered, the above price action and predictions by crypto experts and AI show that it is not too late to invest in Cardano. However, carrying out one’s own research and weighing risk tolerance before dedicating any significant part of the portfolio to any asset is crucial.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
