Source: Dall•E 3
The Cardano price has dipped by 1% in the past 24 hours, following the altcoin’s strong recovery from a seven-day low of $0.551437 on Monday.
ADA has risen by 7% compared to this low, while the token is up by 4% in a week and by 48% in the last 30 days, as well as by 130% in the past year.
Such returns put ADA in a good position to continue making gains in the coming weeks, with the market’s predicted bull rally in 2024 likely to push the altcoin even higher in the coming weeks.
Cardano Price Prediction as Bulls Trigger a Massive Upswing – Can ADA Reach New Highs?
ADA’s technical continue to look strong, with the coin in line for more rises in the shorter term.
For instance, after dipping from nearly 90 in early December, the coin’s RSI (purple) has begun rising again, signalling incoming gains.
Source: TradingView
Similarly, ADA’s 30-day average (yellow) is also rising healthily above its 200-day (blue), another sign that ADA’s rally of the past couple of weeks isn’t going to end anytime soon.
Supporting this claim is the coin’s 24-hour trading volume, which remains elevated in comparison to where it was a month ago, at $600 million compared to roughly $300 million.
It’s also entirely arguable that the rises of the past few weeks are only the tip of the iceberg as far as the expected 2024 bull market is concerned.
There are a variety of reasons as to why analysts expect such a market, including Bitcoin’s next halving in April and the SEC’s likely approval of Bitcoin ETFs.
Together, such factors will increase bullishness in the overall market, with confidence increasing if the Fed reduces rates next year.
And a market-wide rally will push ADA, which arguably remains undervalued in relation to its fundamentals.
Indeed, 2023 has been a good year for Cardano, which has grown its total value locked in by 700% since January 1, more than any other major layer-one network.
This week’s #Cardano development update is live on #EssentialCardano.
Please note that this is the last development update in 2023 & we look forward to sharing more updates on January 12, 2024!
Here’s to a year filled with progress and growth! https://t.co/c9ONxuHUe2
— Input Output (@InputOutputHK) December 15, 2023
Such a growth has followed from the increase of platforms running on Cardano, while around 1,300 are still in development, suggesting how big it could become in the next few months and years.
Based on such expansion, the Cardano price is set to reach $1 by the first few months of 2024.
Promising Altcoins with Bullish Fundamentals
As fundamentally sound as ADA is, many traders may also be inclined to diversify into newer tokens, in order to increase their potential exposure to rallies.
Any diversified portfolio should also include a portion devoted to presale tokens, which can generate substantial momentum during their sales and thereby rally big once they list on exchanges.
One token doing this right now is TG.Casino (TGC), a decentralized gambling platform that has raised more than $4.9 million in its soon-to-be-ending sale.
$4.9 MILLION RAISED
Only $100k to go, players! LFG!!! pic.twitter.com/p5AqWO3qeX
— TG Casino (@TGCasino_) December 20, 2023
Indeed, TG.Casino’s presale has only $100,000 left to raise before it ends, meaning that anyone who hasn’t invested yet should act sooner rather than later.
The reason why the presale is set to sell out so quickly is that TG.Casino offers something fairly unique within the cryptocurrency sector.
This is an online and decentralized casino which operates on Telegram, the hugely popular social messaging app.
By harnessing Telegram’s existing communities, TG.Casino has been able to expand its follower and user count very quickly, with its channel now boasting more than 11,000 subscribers.
This is impressive for such a young project, yet in contrast to most other presales, it helps that TG.Casino has already launched its betting platform.
As we near closer to the FINAL GOAL in the $TGC presale, we take another look at our roadmap
We’ve still got BIG things coming! pic.twitter.com/jqvcVfLuL2
— TG Casino (@TGCasino_) December 19, 2023
TG.Casino pays out winnings in TGC, which users can also stake with, in the process earning themselves a passive income.
It’s possible that the platform’s sale ends in the next day or two, yet newcomers can still buy some TGC early by going to the official TG.Casino website.
And given just how quickly TG.Casino will raise $5 million, its TGC token could rally impressively in the New Year.
Visit TG.Casino Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
The post Cardano Price Prediction as Bulls Trigger a Massive Upswing – Can ADA Reach New Highs? appeared first on Cryptonews.
