Cardano Price Eyes Recovery Toward $2 As Million-Dollar Whale Transactions Explode On The Network
Summary
Cardano's price recently rejected around $1.1 after a surge that peaked at $1.3 on December 3, 2024. Despite a 3.77% decline in the past 24 hours, on-chain data indicates increased accumulation by crypto whales, with 687 transactions over $1 million recorded. Whale activity had previously declined from 894 transactions on December 2 to about 240 between December 8 and December 12. Current market sentiment suggests accumulation rather than exit. Cardano is trading at $1.03, with potential support at $1 and a target of $2, requiring bullish market conditions. Analysts predict a cautious year-end price of $1.15, but Cardano has tripled in value over six weeks, indicating possible upward momentum.
