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Possible Cardano Rally - ADA back to $ 3 in December?



Cardano is currently experiencing a strong phase of weakness on the market. After the ADA price fell sharply in the past few weeks and was further damaged as part of the Bitcoin correction, it could rise again in December. Learn why the ADA token is currently undervalued and what course you can expect!

Cardano: ADA tokens almost 50% in the red since September

At the beginning of autumn, Cardano was still considered the shooting star among the major cryptocurrencies. At the beginning of September, the price of the ADA token even exceeded the $ 3 mark. Many investors hoped that Cardano could continue to ride the hype wave because of its technical excellence.

However, it turned out a little differently. The hype shifted to other networks. Especially Solana with its transaction speed of up to 50,000 dollars per second rose in popularity. Blockchains like Avalanche and Algorand also received more attention. The price of the ADA token began to fall again before the Bitcoin slump. With the BTC correction, it now fell below $ 1.60 and lost almost 50%.

Cardano remains extremely promising in the fundamentals

The drop in the ADA token price has little to do with Cardano's misconduct. The Cardano Foundation behind the project is known for the fact that they have been developing the network extremely carefully and with the aim of long-term usability for years. Cardano is under the supervision of scientists who are developing the blockchain according to evidence-based principles.

At the moment, however, the market's attention has moved in the direction of exciting networks such as Solana or Avalanche or innovations such as Metaversum Token. A ls consequence is the ADA token seldom so undervalued at the moment as now.

ADA back towards $ 3 in December?

The ADA token is therefore a hot tip for short-term investors in order to be able to take profits in the next few weeks. The crypto market is very likely still facing a parabolic slope as in 2013 and 2017. Therefore, almost all Altcoins still have extreme growth potential.

ADA could approach $ 3 again as early as December if the overall market allows it. After that, depending on the forecasts, prices between 5 and 10 dollars at the top are also possible. 

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