Cardano (ADA) has seen significant gains in the last 12 months, with a 42.39% increase in 2024. However, the cryptocurrency has also fallen victim to the recent December downtrend, which has affected multiple coins including SHIBU.
In the last four weeks, Cardano’s prices have declined by 20.54%, from $1.33 on December 3rd to $0.86 on December 30th. Despite this bearish trend, analysts expect a rebound in the new year, with some suggesting a new all-time price high could be on the cards.
A technical analysis reveals that support at $0.567 could ignite bullish momentum and see Cardano reverse its current course to hit a new high of $3.09. Additionally, a 50% jump in market volume and a surge of Whale activity over the last 48 hours have strengthened the theory of a major shift upwards.
Another cryptocurrency, 1FUEL, is also preparing for a potential price increase in the new year. The viral presale has generated significant interest due to its innovative approach to cross-chain crypto transactions.
1FUEL’s utility and ease of use make it an attractive option for DeFi innovators and investors alike. Its groundbreaking one-click technology simplifies cross-chain transactions, reducing user errors and making blockchain accessibility more feasible.
With over $945,125 raised in the presale so far and more than 99,963,990 tokens sold, 1FUEL is poised to take a significant step forward. Experts project early returns of up to 500% and public launch returns of 100x.
If you’re interested in being part of DeFi innovation, now is the time. Join the 1FUEL presale now and don’t miss out on this opportunity.
Source: https://nftevening.com/cardano-ada-sees-december-downturn-trading-at-0-86-how-does-1fuel-compare-as-a-defi-innovator