Cardano (ADA) Surges by 20% While New Telegram Token Raises $3.5M in Presale – Is the Bull Run Here Already?
The broader crypto market is green today, December 7, 2023. This has influenced the price of many altcoins, including Cardano ($ADA), which has surged 20% in the last seven days.
Due to this price increase, many experts project the coin to reach a very high level by 2024.
Moreover, its key metric reached a new milestone a few days ago. This level has not been tested since March 2022. This also fuels bullish sentiment in the market. The buzz in the market is high, as a new Telegram token managed to pull in a whopping $3.5 million in presale.
Notably, based on the ongoing bullish momentum, people are wondering if the bull run has already started.
ADA Recent Price MovementADA holders have been in a good mood these past few days. This is due to how Cardano's native token ADA has been performing.
As depicted in the daily chart, ADA price has been on a descending downward movement for the past two years. But despite the bearish pressure, the community was still hopeful.
However, tides have turned in recent times as buyers regained control of the market, causing a notable price growth. On November 16, ADA's price broke the strong resistance at $0.386.
No wonder, in the past 30 days, CoinMarketCap data shows the coin is up by more than 25%.
Notably, the $0.386 level has resisted further price ascent since May 28 of this year. But ADA has successfully conquered it and trades at $0.4512 as of 2:00 PM EST on December 6, with a price increase of over 1%.
Looking at how fast the price is growing, ADA could even hit $0.5 in the coming days.
Quick Cardano Price Analysis: ADA Breach Downward Trendline, is $0.59 Imminent?
The chart above shows exciting price moves for ADA as it recently broke free from a downward trendline, which held it back since April. Moreover, it also breached another long-term trendline, pointing towards some serious bullish momentum.
Now, all eyes are on $059, a crucial level for the market. If ADA can bust through this barrier, there could be a notable shift in the market, which may trigger more waves of excitement.
Meanwhile, another thing boosting market confidence is the fact that ADA is currently above the 200 and 50-day SMA.
This signals a buying opportunity. But that's not all. The MACD also supports the bullish confluence as it sits above the signal line while the histogram bars are green. In simple words, ADA seems to be getting ready for an explosive moonshot.
So, to sum everything up, ADA is breaking trends from all angles, and indicators support this move.
The $0,59 price might just be ADA's next big move. Still, remember to consider other factors before putting money.
Whale's Interest in Cardano Renewed - Will it Affect ADA Price?Adding to the bullish sentiment are the recent on-chain stats showing a big jump in ADA transactions worth over $100,000. This suggests that the heavy-pocketed investors are getting more interested in Cardano.
Notably, the popular crypto trader Ali shared this through the X platform on December 3.
#Cardano | In the last three months, there's been a significant increase in $ADA transactions over $100,000, reaching new highs consistently.
This surge points to growing interest in #ADA from institutional players and whales, which is usually a precursor to price spikes. pic.twitter.com/APczM2PGxM
- Ali (@ali_charts) December 4, 2023
According to Ali, this move could be a sign of a price increase within the ADA market. Now, the big question lies in how this will affect ADA's price tag. Normally, when big holders start throwing serious funds around, it drags more people in.
And if this continues, the trust in ADA will increase. So, this is a good sign for ADA since more buyers will boost the price significantly.
ADA Alternative for Sharp 10x Gains: TG.Casino, New GambleFi Token Secures $3.5 in Presale
The gambling market is expanding rapidly in the cryptocurrency space. Projects like RollBit and Stake utilize crypto technology efficiently. Meanwhile, this new project, TG.Casinos are also making waves in the market.
It has raised more than $3.5 million in presale funding, showing that investors really like the project. And this could attract even more investors to the presale.
Time for a quick numbers update!
$38m+ USD now wagered in the casino
$3.7m USD in total deposits in the casino
2450+ Players in the casino
All this while in presale, wait till we launch!
pic.twitter.com/NLKBqdAZFj
- TG Casino (@TGCasino_) December 6, 2023
Impressively, about $3.7 million have been deposited on the casino platform. Also, people have wagered more than $38 million inside the same casino, which already has over 2400 players. All this is happening while it's still on presale.
What Makes this Project Unique from Others?This project is different from its competitors due to how it operates. Firstly, it works on the Telegram platform, giving access to millions of users. Moreover, you don't have to go through rigorous KYC stress. This makes its users anonymous.
Players are eligible for 25% cash back on bad games, but you must use the TG.Casino token to place the bet. Recently, TG.Casino added 100 additional games to its platform, contributing to the excitement within its community. It also shows how committed the project is to growing.
If it continues with creating new stuff, more investors could buy the TG.Casino token. Meanwhile, remember that the airdrop is ongoing, and people are already accumulating the token for free. Interested buyers should head straight to the official website.
You can swap ETH, BNB, or USDT to get the token. Now that the token sells at $0.175, it is the best time to buy in before it lists on top exchanges.
The post Cardano (ADA) Surges by 20% While New Telegram Token Raises $3.5M in Presale - Is the Bull Run Here Already? appeared first on The Tech Report.