How Far Can Cardano Price Rise in November?

This week, the crypto market experienced accelerated bullish momentum following Donald Trump’s victory in the 2024 U.S. presidential election. Bitcoin, the pioneer digital asset, rallied to a new high, sparking recovery across most major altcoins, including Cardano (ADA). The Cardano price witnessed a remarkable three-day rally, climbing from $0.33 to $0.441 and registering an impressive 32% gain. This surge aligns with a bullish reversal pattern observed on the daily chart, hinting at the possibility of further upward movement.

Will Cardano Price Hit New Peaks in November Amid Major Upgrades?

Cardano’s price has shown strong momentum recently, climbing over 10% in the past month, supported by a positive shift in the broader cryptocurrency market. This surge comes as Cardano launches Node 10.1, a significant upgrade that introduces new governance capabilities and prepares the network for the upcoming Chang 2 hard fork. 

Node 10.1.1 is the first mainnet node to support the Chang 2 inter-era hard fork, marking a crucial step for Cardano’s governance evolution. The release also brings enhanced delegation options, allowing stake pool operators (SPOs) to delegate to pre-defined voting choices.

These advancements have spurred optimism that Cardano’s price could push higher in the coming weeks, as the network solidifies its infrastructure and prepares for new functionalities.

Analyst Predicts 70% ADA Price Rally Surge

Crypto analyst ZAYK Charts has highlighted a potential bullish wave for Cardano, indicating a breakout from a falling wedge pattern on the 1-day chart. This technical formation is often seen as a reversal indicator that ADA could experience significant upward momentum.

According to ZAYK Charts’ projections, the breakout could lead to a 60-70% price increase. This optimistic outlook comes as ADA investors anticipate the next move, with bullish sentiment building around the cryptocurrency.

$ADA Faling Wedge Breakout is Done in 1D Timeframe✅

Expecting 60-70% Bullish Wave📈#ADA #ADAUSDT #Crypto pic.twitter.com/RD0bYw3i5R

— ZAYK Charts (@ZAYKCharts) November 7, 2024

At the time of writing, the ADA price saw an impressive 9% increase within the past day, trading at approximately $0.444. Opening at a low of $0.403, the ADA gradually gained traction, climbing to a high of $0.458, marking a significant upward trend in the 24 hours. 

The top altcoin price is eyeing a critical resistance level at $0.38, with bullish momentum suggesting a potential breakthrough. If ADA manages to overcome this barrier, analysts expect the cryptocurrency could challenge a more significant resistance point at $0.75.

The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows a positive crossover. The MACD line (blue) stands above the signal line (orange), indicating growing buying momentum. The histogram has also shifted to green, suggesting bullish momentum may be building up.