Cardano’s (ADA) Hopes of Closing 2024 Above $5 Fade, Here’s a More Achievable Target

Cardano was one of the stars of the November bull run. For the first time in two years, ADA’s rally peaked at $1.25 from the monthly low of $0.34. However, Cardano’s December run has been less impressive, temporarily dropping below the $1 mark before a recent surge to $1.16. The previous $5 December 31st prediction seems so unlikely due to several factors. Here is a more achievable target for the festive season. 

Cardano’s Recent Surge Might Be a Fluke

December was insane for Cardano, previously falling below the $1 mark and rising 15% in 24 hours to $1.16. However, it may fail to sustain the recent rise. Fundamental measures show that positive momentum is fading. Cardano's declining holding duration is cause for concern, as it indicates diminished investor commitment. This metric, which measures how long coins remain unsold, has significantly decreased. Shorter holding periods have traditionally indicated waning investor confidence, which could lead to selloffs. If this trend continues, ADA's price may struggle to maintain its position above $1.16. Furthermore, the price-Daily Active Addresses (DAA) divergence sends another bearish signal. According to Santiment data, this indicator has plummeted by a whopping 134.26%. A growing price is often associated with greater blockchain activity, indicating strong support. On the other hand, Cardano has experienced a price surge while active addresses have decreased. This indicates that the rally may lack the fundamental user activity required to maintain upward momentum. On the technical front, the Moving Average Convergence Divergence (MACD) indicates further bearish risks. The negative MACD reading shows waning momentum; ADA could fall below $1 if this continues. Analysts warn that a price dip to $0.98 is likely in this bearish scenario.

Realistic Price Target for Cardano this December

While hopes of Cardano reaching $5 by the end of the year diminish, analysts suggest more achievable targets for December. If positive momentum returns, ADA might rise to $1.33, with high expectations of $2. However, with diminishing on-chain activity, these targets will remain speculative unless investor mood improves dramatically. In the final days of December, investors are taking a risk with Rexas Finance, a new project that aims to transform asset management through tokenization. Its presale performance has been incredible, making RXS an ADA substitute with tremendous upside potential in the upcoming bull cycle. 

Rexas Finance (RXS): A Rising Star in the Crypto World

Rexas Finance has gained significant attention due to its unique method of managing real-world assets. Rexas Finance focuses on RWA tokenization by fractionalizing real estate, commodities, and digital art using blockchain technology. Investors and analysts are interested in this novel strategy, which bodes well for its strong finish in 2024. In December, Rexas Finance’s presale saw increased investors’ interest. Its Stage 10, which started a few days ago, has seen 91% of its allocated token bought, raising its total amount to $28 million. Each RXS token is priced at $0.15, with the following stage set to increase the price to $0.175. After completing all presale phases, RXS will be listed on at least three of the top ten cryptocurrency exchanges at a starting price of $0.20 per token, providing significant growth opportunities for early investors.

Rexas Finance has established a reputation as a reliable and secure platform after a Certik audit demonstrated its dependability. Furthermore, the project's placement on CoinGecko and CoinMarketCap increases its awareness and strengthens its credibility in the crypto market. The platform's ecosystem has features meant to make tokenization accessible and efficient. Its Rexas Token Builder helps users generate tokens without any coding experience, while the QuickMint Bot streamlines token production using popular messaging services like Telegram and Discord. For NFT fans, the Rexas GenAI platform delivers an AI-driven tool for developing and maintaining digital artworks, extending prospects in the NFT area.

The project also demonstrates a strong dedication to security with its Rexas AI Shield, which employs powerful AI audits to protect smart contracts and avoid vulnerabilities. Meanwhile, the Rexas Treasury uses multi-chain yield farming to maximize investor returns while automating the process for efficiency and scalability. Rexas Finance also hosts a $1 million giveaway with 20 top winners, each poised to receive $50,000 worth of RXS tokens. This strategy encourages early adopters while simultaneously cultivating a loyal and engaged group. Analysts forecast Rexas Finance's exponential growth in 2025, citing its outstanding presale performance, unique ecosystem, and future exchange listings. With a listing price of $0.20 and a current rising trend, RXS has the potential to surge rapidly above $5, making it an appealing option for investors looking for a high-growth project this December.

Conclusion

Cardano's struggles reflect the fluctuating nature of the crypto marketplace. With on-chain activity deteriorating and bearish indicators rising, ADA is unlikely to cross the $5 mark to the end of the year. If bullish momentum could return, a more possible range of $1.33 to $2 is still open.

Meanwhile, Rexas Finance  still stands out as a model for innovation and growth. With its breakthrough features, safe infrastructure, and growing community, it is well-positioned to attract investors and change the face of asset tokenization in 2024.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance