The post Which Altcoin Will Hit $1 in January 2024: Cardano (ADA) or Ripple (XRP)? appeared first on Coinpedia Fintech News
Cardano (ADA) Price Analysis
Cardano traded under the bearish influence for over 25 months and triggered a strong rebound at the beginning of Q4 2023. The extended squeeze that prevailed for a prolonged period may be the primary reason, as the bulls used their accumulated strength to lift the price by over 180%. Currently, the ADA price appears to be in a decisive phase where a bullish rebound may lay the foundation for a fresh upswing.
In the long term, Cardano’s price appears to be on track within a parabolic curve. The crypto, in its previous rally, underwent a parabolic recovery and marked new highs above $3 in August 2021. Since then, it has been maintaining a bearish trend. However, the recent rebound has displayed enough strength, and the recovery plot has been validated. Therefore, the price is believed to maintain a healthy upswing along the curve to fo
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