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ChatGPT Completes Cardano (ADA) Price Prediction for December 31, 2024

ChatGPT Completes Cardano (ADA) Price Prediction for December 31, 2024

HappyCoinNewsHappyCoinNews2024/12/16 01:44
By:HappyCoinNews

Artificial Intelligence Tool Chat GPT -4o from OpenAI proposed several scenarios for cryptocurrency Cardano (ADA) on the last day of 2024.

Token is among the main beneficiaries of the current cryptocurrency market rally, breaking out of a prolonged consolidation below $1.

According to Chat GPT , on the last day of 2024, the price of ADA will likely depend on market sentiment, investor behavior, and broader economic trends and will fluctuate between $1,25 and $1,40 (an increase of approximately 26% from the current value).

Chat GPT predicts that in a neutral situation, ADA will trade around $1,10-$1,15, provided that market conditions remain stable. However, if the crypto sector experiences bearish sentiment, the AI ​​tool predicts a drop Cardano below $1 by December 31.

ADA Price Prediction for December 31, 2024 Source: Chat GPT

Several fundamental and technical indicators support a possible short-term rally in ADA. According to renowned cryptocurrency analyst Ali Martinez, on December 12 crypto whales accumulated over 80 million ADA tokens within 48 hours.

Wallets holding between 100 million and 1 billion ADA are behind this recent buying spree. Large investor actions have always signaled upward price momentum or strategic accumulation phases.

Interestingly, according to blockchain analytics platform IntoTheBlock, as of December 14, a significant portion of ADA holders were in profit, which is likely to impact selling activity.

ADA holders making money at current price.

Crypto analyst CryptooELITES believes that ADA has broken out of a multi-year downtrend, signaling strong bullish momentum.

The technical setup of the cryptocurrency shows that token formed a bullish cup and handle pattern, indicating a continuation of the uptrend.

In this case, ADA's rise above the 0,618 Fibonacci retracement level at $1,73 indicates growing investor confidence.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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