Cardano Price Forecast for November 28
Cardano’s price is on the move again, with the altcoin trading above $1 and up more than seven percent in the last 24 hours. But what’s next for ADA? Let’s take a closer look.
Currently, ADA’s price is potentially in Wave 4, with key support between $0.85 and $0.60. The critical support level to watch is around $0.702. Despite a recent pullback, there is still bullish potential as the pullback was in three waves rather than five, leaving room for an upward move.
Key Fibonacci support levels between $0.88 and $0.778 have been reached, and the market is now testing resistance levels. ADA is currently facing resistance between $1.14 and $1.12, with another level around $1.87. Breaking these resistance levels could signal the start of a bullish trend, but rejection could indicate a corrective move.
For those holding positions from the Fibonacci support zone, it’s advised to consider moving stop-loss to break-even to protect profits. Keep an eye on potential support around $0.85 and $0.77 if the price declines.
Looking ahead, our Cardano price prediction suggests the altcoin could hit a maximum of $1 by the end of 2024 and $2.42 by the end of 2025. While Cardano enthusiasts speculate about surpassing Ethereum in the next 8 to 10 years, only time will tell.
Stay tuned for more updates on ADA’s price movements and potential growth.
