The price of Cardano can rise to $ 2, with whale purchases

Cardano Price has remained in a narrow range in the past few weeks as participants in the next catalyst are waiting.

Cardano (LeadIt was circulated at $ 0.760, a decrease of 43 % from its highest level in December last year. It was the performance of other famous currencies like a talisman (talisman (Ohm) And Cronos (Croo) This month.

Cardano has three main incentives that you can pay to two dollars in the coming months. First, there are signs that the whales accumulate the coin in anticipation of more future gains. Data shows Whales acquired more than 240 million ADA coins last week, which amounted to more than $ 182 million. The direction of buying whales appears to be gained momentum.

Second, Cardano can benefit from the potential approval of the Ada Fund circulating by the Securities and Exchange Committee. ashen Tuttle Capital Management has already made requests.

The Ada Fund will be a positive development of the currency, as it can lead to more flow from institutional investors.

Third, data shows that more investors are conducting their Cardano currencies, indicating that they intend to keep them in the long run. The maximum stokeing market jump 8.1 % to $ 16.1 billion, while the return is 2.60 %.

Technical analysis of Cardano Price

Another catalyst for the ADA price is that in the second stage of the Elliott wave style. This stage is characterized by a short withdrawal, followed by the third upper wave – it is usually the longest.

Cardano is likely to have completed the second stage and prepare to enter the third wave, which can push it to the psychological level of $ 2. This goal is in line with the level of alternative re -38.2 % and represents a 160 % increase from the current price.

Cardano remains higher than a 50 -week SIA moving average and is a pattern of bullish science, and a bullish continuity signal that includes a vertical line and monotheism that resembles science.

However, this prediction depends on the weekly graph, which means that the pattern may take time to completely develop. The science department took more than three months already to form.