Cardano Price Prediction in November: ADA Price Might Increase by 43.5% if This Occurs

Cardano (ADA) began a thrilling adventure in October, when its value increased by a remarkable 15.4 percent. With this kind of momentum on their side, ADA supporters are eager to see what November brings. What does the next month hold for ADA, given the persistent volatility of the crypto market? The price of ADA has increased by 1% in the previous 24 hours, and is now at $0.291. With a market cap of $10.26 billion, it is the eighth largest cryptocurrency.

 

 

 

 

 

 

 

TVL Hit $197 Million: A Good Month in General?

 

 

Cardano’s recent price increase is directly related to the ecosystem’s TVL. Cardano’s TVL has grown by 27.94% over the past two weeks, according to data compiled by DeFiLlama, and is now at $197 million. Ninety-two point three six million dollars of this TVL comes from the two major DeFi projects, Minswap and Indigo. This sudden growth in TVL is indicative of rising confidence and widespread use of Cardano. With more assets in the network, ADA might theoretically sustain its surge towards the coveted $0.5 threshold.

 

Cryptorank’s historical indicators point to a bearish indication, and the trends suggest that ADA may experience a slight decline this month. The median monthly return for ADA throughout the years is -2.5%, while the average monthly return is a whopping 43.5%. This means that in just one November, sales increased by 85%.

 

For the month of November, this means that ADA investors should expect either a bullish trend to $0.3 per token or a negative trend to $0.25. Is this the month you might put down some cash for some Cardano? Hang on there’s more to the story.

 

 

 

 

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Will the Bulls Defeat the Bears in November?

 

For the month of November, ADA holders should expect one of three outcomes. First, if the Input-Output Global (IOG) team introduces major updates and the TVL continues to grow, a bullish scenario may send ADA prices soaring to $0.41 per token.

 

The second possibility is the most neutral, with ADA perhaps maintaining its current trading range of $0.29–0.30 until breaching the $0.5 threshold. In the worst-case scenario, unfavourable market sentiment or news triggers a decline to prior levels, when prices hover around $0.24.

 

The bullish divergence between the RSI and moving averages in ADA’s price action is favourable. The positive trend remains intact, giving ADA enthusiasts reason to be optimistic despite the possibility of minor setbacks due to external circumstances.

 

Uncertainty surrounds ADA as November begins, with bullish developments being possible but global economic worries being present. Time will reveal ADA’s true path over the month of November.