Cardano ADA Eyes 66% Rally in December Based on History

Cardano ADA is one of the most promising cryptocurrencies in the current crypto market, up 22% in the past week. ADA is significantly up over the last month, even outpacing Bitcoin (BTC) by over 200% since the US election. Based on previous price history, bulls are even eyeing a further surge in December, if past patterns replicate themselves.

Based on Cryptorank data, ADA has an average growth rate of 66.8% for December, proving to be a bullish month for the coin. With Cardano’s native cryptocurrency up over $1 at press time, this surge could result in the asset inching closer to a $2 valuation. Its price has the right setup to repeat its December performances if the current momentum is sustained. ADA was trading at $1.22 at press time, up by 6% in 24 hours. Its market volume has also soared to $42.89 billion.

In December 2021, ADA peaked at $1.72, about three months after its all-time high of almost $3. The asset has maintained a steady uptick in price each December since. Analysts project this consistency to leak into December 2024, with the asset expected to test new resistance levels. Analysts using the Fibonacci indicator suggest that the next target for ADA could be $2.453. However, the Fibonacci sequence corresponding to the 2.618 Fibonacci level will see ADA hit $8.30 as its next key target.

Also Read: Cardano: AI Predicts When ADA Will Breach Its All-Time High of $3.09

Cardano repeating the 58.1% rally scored in December 2023 will peg the price of ADA at a high of at least $1.70. This appears easily doable, as ADA surged by 216% in November 2024 alone. Furthermore, Bitcoin’s recent climb to $100k is spurring the entire crypto market. This includes altcoins, which ADA belongs to.

As the cryptocurrency market gears up for a change as Trump takes over the new US regime, the overall market sentiment is currently incredibly bullish, helping altcoins, including Cardano ADA, set their eyes on new ATHs.