Ethereum

Cardano

A recent surge in Cardano (ADA)’s market value has <a href="https://twitter.com/ali_charts/status/1725046363463844078?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">caught</a> the attention of both investors and analysts alike. Over the past 24 hours, ADA has seen a 7% increase, trading at approximately $0.39 at the time of writing. 
This <a href="https://www.newsbtc.com/news/cardano/cardano-midnight-devnet-live-trigger-ada-rally/" target="_blank" rel="noopener ">uptick in value</a> is not just a momentary blip on the radar but a part of a broader trend that mirrors the 2018-2020 consolidation phase of ADA, according to a well-known crypto trader and analyst, Ali. 
Interestingly, the analyst noted this current consolidation phase comes without the dramatic influence of an event like the Covid-19 crash. 
<h2 id="cardano-ada-to-skyrocket-in-december">Cardano (ADA) To Skyrocket In December</h2> 
Ali has expressed insights on X (formerly known as Twitter), drawing parallels between ADA’s current market behavior and its historical trajectory. If these patterns hold, Ali suggests that ADA might soon break through the $0.45 resistance level, potentially as early as the first week of December. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#Cardano</a>‘s current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash! 
 If so, <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$ADA</a> could break through the $0.45 resistance around the first week of December. The upswing could send <a href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#ADA</a> to $0.75 by late December. 
 Looking to trade this setup? Head… <a href="https://t.co/u3KzOsZj2F" target="_blank" rel="noopener nofollow">pic.twitter.com/u3KzOsZj2F</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1725046363463844078?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">November 16, 2023</a>
</blockquote> 
Currently, ADA is trading at around $0.39. Despite a recent uptick in its weekly performance, the asset has experienced a minor pullback from its 24-hour high of $0.40. Although this peak approaches the resistance level highlighted by analyst Ali, ADA appears <a href="https://www.newsbtc.com/news/cardano/cardano-price-rally-650-by-july-2024/" target="_blank" rel="noopener ">poised for a potential rally</a>. 
This is indicated by a <a href="https://www.newsbtc.com/news/cardano-october-whale-frenzy-what-lies-ahead-for-november/" target="_blank" rel="noopener ">significant increase</a> in its daily trading volume, which has risen by over $200 million in the past day, suggesting heightened trading activity for the crypto. 
Furthermore, as the year approaches, Ali’s prediction for ADA’s price to reach as high as $0.75 during the festive season seems to gain credibility with the <a href="https://www.newsbtc.com/analysis/ada/ada-price-prediction-cardano-rally-0-40/" target="_blank" rel="noopener ">recent surge</a>. 
If ADA continues on this <a href="https://www.newsbtc.com/news/cardano/cardano-whales-600-million-0-4/" target="_blank" rel="noopener ">trajectory</a>, it could signify a notable milestone in its journey and potentially reshape investor perspectives on Cardano’s role in the competitive crypto landscape. 
<h2 id="media-spotlight-and-ethereum-s-alleged-imitation">Media Spotlight And Ethereum’s Alleged Imitation</h2> 
It is worth noting that the recent spotlight on ADA can be partly <a href="https://twitter.com/StevenNerayoff/status/1724826703808156073?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1724826703808156073%7Ctwgr%5E58d1a85244aaa3b0ba1ed3c6900e63af94b9cc9b%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcoinedition.com%2Fanalyst-predicts-ada-price-surge-drawing-parallels-to-2018-2020%2F" target="_blank" rel="noopener nofollow">attributed</a> to the statements made by Steven Nerayoff, a prominent figure in the crypto sphere known for his critical views on Ethereum. Nerayoff’s declaration of ADA as his “top pick in crypto” has <a href="https://x.com/UnionOperator/status/1724959348151980361?s=20" target="_blank" rel="noopener nofollow">fueled media discussions</a> and increased interest in Cardano. 
His recent public criticism of Ethereum, accusing the platform of imitating Cardano’s innovations, has added a layer of intrigue to the ongoing narrative. This controversy particularly concerns Ethereum <a href="https://x.com/VitalikButerin/status/1724398504322216069?s=20" target="_blank" rel="noopener nofollow">revisiting its Plasma scaling solution</a>, first introduced in 2017. 
<blockquote class="twitter-tweet"> 
 What timing! This is why I just said <a href="https://twitter.com/Cardano_CF?ref_src=twsrc%5Etfw" rel="nofollow">@Cardano_CF</a> is my top pick in crypto. You will hear on the recording me telling <a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw" rel="nofollow">@VitalikButerin</a> he made a major mistake in getting rid of <a href="https://twitter.com/IOHK_Charles?ref_src=twsrc%5Etfw" rel="nofollow">@IOHK_Charles</a> &amp; should bring him back. 
 Are the clueless smug <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw" rel="nofollow">@ethereum</a> cultists who got rid of Charles… <a href="https://t.co/x5w6yDRB4M" target="_blank" rel="noopener nofollow">https://t.co/x5w6yDRB4M</a> 
 — Steven Nerayoff (@StevenNerayoff) <a href="https://twitter.com/StevenNerayoff/status/1724826703808156073?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">November 15, 2023</a>
</blockquote> 
Members of the Cardano community have not hesitated to point out the <a href="https://www.youtube.com/watch?v=9S5IQrnj3dc" target="_blank" rel="noopener nofollow">similarities between Ethereum’s Plasma</a> and Cardano’s Hydra, a Layer-2 scaling solution. They argue that Plasma’s recent developments closely resemble&nbsp;Hydra’s functionalities. 
Whether substantiated or not, such claims contribute to the broader conversation about innovation and originality in the blockchain space. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/Y7CDD7xU/" alt="Cardano (ADA) price chart on TradingView" width="2770" height="1556"> 
Featured image from Unsplash, Chart from TradingView

History Repeats? Cardano (ADA) Set To Skyrocket In December, Predicts Analyst

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