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The post <a href="https://coinpedia.org/price-analysis/ada-price-hits-a-17-month-high-with-whales-entering-the-arena/">Cardano (ADA) Price Hits 17-Month High With Whales Entering The Arena!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
A morning star formed in Bitcoin with the 3.45% rise last night, and the altcoins mimic the price trend on a much larger scale. With Cardano, Avalanche, and Polkadot giving remarkable returns overnight, the ADA price tops the gainers list with a 15.57% jump.&nbsp; 
Crossing the 200W EMA and sustaining above the psychological barrier of $0.50, Cardano pops out as a strong bullish token this month. With a 72.61% jump in the last 14 days, ADA buyers are optimistic about the bullish <a contenteditable="false" style="cursor: pointer;" href="https://coinpedia.org/price-prediction/cardano-price-prediction/">Cardano price predictions</a> for December 2023.&nbsp; 
<h2 class="wp-block-heading" id="h-turning-the-on-chain-tides-nbsp">Turning The On-Chain Tides&nbsp;</h2> 
The remarkable rise in the intraday trading volume supports the ongoing run and reflects the rise in underlying demand. As per Intotheblock, on-chain analytics, the recent spike in large transactions hitting the $1.5 billion mark reflects the heightened interest in whales in the Cardano network. 
<figure class="wp-block-image">
 <img decoding="async" width="1398" height="533" src="https://image.coinpedia.org/wp-content/uploads/2023/12/14115249/image-77.png" alt="" class="wp-image-253436" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/14115249/image-77.png 1398w, https://image.coinpedia.org/wp-content/uploads/2023/12/14115249/image-77-300x114.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/14115249/image-77-1024x390.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/14115249/image-77-768x293.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/14115249/image-77-150x57.png 150w" sizes="(max-width: 1398px) 100vw, 1398px">
 <figcaption class="wp-element-caption">
 Source: <a href="https://app.intotheblock.com/coin/ADA/">Intotheblock</a>
 </figcaption>
</figure> 
Further, the ADA price enters the crucial zone between $0.64 and $0.84, as per the Global In/Out Of The Money(GIOM) indicator. As per GIOM, this range marks a critical juncture before the psychological mark of the $1 range.&nbsp; 
Moreover, almost 58% of wallet addresses holding Cardano(ADA) are now in the money, in short, profitable after the recent price surge.&nbsp; 
<h2 class="wp-block-heading" id="h-ada-price-breakout-trend-exceeds-0-60">ADA Price Breakout Trend Exceeds $0.60</h2> 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="484" src="https://image.coinpedia.org/wp-content/uploads/2023/12/14114758/ADAUSD_2023-12-14_10-27-13-1024x484.png" alt="" class="wp-image-253427" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/14114758/ADAUSD_2023-12-14_10-27-13-1024x484.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/14114758/ADAUSD_2023-12-14_10-27-13-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/14114758/ADAUSD_2023-12-14_10-27-13-768x363.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/14114758/ADAUSD_2023-12-14_10-27-13-1536x727.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/12/14114758/ADAUSD_2023-12-14_10-27-13-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/14114758/ADAUSD_2023-12-14_10-27-13.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Source – <a href="https://www.tradingview.com/x/MzcEEfor/">Tradingview</a>
 </figcaption>
</figure> 
With the market cap of the eighth largest Cryptocurrency, Cardano, closing to almost $23 billion, it drives a fast-paced recovery mode. As buyers expect this trend reversal in ADA price to sustain and gain momentum, the altcoin may soon cross the $1 mark in early 2024.&nbsp; 
In the weekly chart, the ADA buyers reclaim momentum to pump the long-coming trendline breakout rally. After briefly sustaining above the 50-week EMA, Cardano hits the pedal to the metal and skyrockets 50% in a week, continued by the 9.41% rally this week.&nbsp; 
Further, this jump in ADA market value increases the likelihood of a golden crossover in the weekly chart as the bull run uplifts the 50-week EMA.&nbsp; 
The ongoing recovery leads the MACD and signal lines on a positive path following the recent crossover event. Gaining momentum with the rise in bullish histograms, the indicator reflects a growth in underlying demand for Cardano.&nbsp; 
Considering the ADA price sustains momentum, the buyers can breach the $0.70 level to reach the $0.84 mark, the 50% Fibonacci level.&nbsp; On a contrary note, a reversal before $0.70, the downtrend can result in a dip in Cardano to $0.55.

Cardano (ADA) Price Hits 17-Month High With Whales Entering The Arena!

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