Cardano price prediction: Trump’s new SEC pick could be ADA supporter

The price of Cardano (ADA) has risen significantly over the past 30 days in line with the overall market rise. This positive movement comes as investor interest is increasing, driven by the overall cryptocurrency market rally. ADA’s uptrend is part of a larger trend seen across many altcoins, which have also seen impressive gains recently. The altcoin’s rise coincides with speculation that Donald Trump’s newly appointed SEC chairman could be a supporter of Cardano, potentially adding further momentum

Cardano price prediction could see ADA skyrocket with Trump’s supporting SEC nominee

Cardano price has recently caught the attention of investors. This comes after Donald Trump endorsed a potential new SEC (Securities and Exchange Commission) nominee who strongly supports cryptocurrencies. This surprising policy direction could have a significant impact on the price of ADA, which has been rising in recent months.

The prospect of a more crypto-friendly SEC leader has fueled optimism in the crypto market. Investors are hoping the new candidate will take a more relaxed stance on crypto regulation. This could lead to projects like Cardano, often viewed as a technically superior but undervalued blockchain, gaining more traction.

Trump’s SEC pick literally spoke #cardano Summit.

HIGHER. $ADA https://t.co/WgUTz97Nqe pic.twitter.com/jo6JuU4syD

– ADA monkey 🌍|| “APE” (Pool) 🛰️ (@TheADAApe) December 4, 2024

ADA price bulls are targeting $3 resistance

The latest ADA price is trading at $0.7522, up 14% over the past week. During this time, the cryptocurrency experienced significant price fluctuations, ranging between $1.17 and $1.24.

Volatility reflects strong market movements and increased investor activity. ADA’s impressive 260% price increase over the last seven days signals bullish sentiment and growing market interest.

Currently, investors are closely watching the $1.25 resistance level and hope that a break of this price point could spark further bullish momentum. If the Cardano price prediction breaks above this level, the next significant resistance could be targeted at $2. If buying pressure continues, the best altcoin could reach up to $3.

Currently, the vast majority of contracts, 88.57%, are IntotheMoney, worth $37 billion ADA. In contrast, only 3.62% of contracts, or $1.53 billion, are ADA OutThe Money, while only 7.81%, totaling $3.29 billion, are ADA ATMs. The data, aligned to a current ADA price, provides investors with a comprehensive overview of the market’s potential movement and sentiment.

Cardano’s price surge and potential support from a crypto-friendly SEC leader offer promising prospects. ADA could see significant gains if the momentum continues and pushes towards higher resistance levels.

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