Cardano (ADA) has experienced a transformative week, marking a sharp departure from its three-month-long consolidation phase due to bearish momentum since October. 

Often called a “third generation cryptocurrency,” Cardano has rallied 76% this week, signaling a potential turning point for the altcoin. The renewed momentum has sparked optimism, especially as large-scale investors, or “whales,” are re-engaging with the network.

Cardano Notes New Highs

Cardano’s recent price action has prompted a significant increase in whale transaction volume, with a total of $11.5 billion traded by large holders in just the last five days. The last time Cardano saw this level of whale activity was over six months ago, in May. This renewed participation from large wallet holders, typically one of the most influential investor groups, suggests growing confidence in ADA’s price trajectory.

Whale involvement is a strong indicator of market sentiment, as these large players often move substantial amounts of capital. Their return signals an endorsement of Cardano’s current value and potential, potentially adding to ADA’s stability. If whales continue to participate actively, Cardano could sustain its upward momentum and strengthen its price position further.

On a technical level, Cardano’s momentum is supported by indicators such as the Relative Strength Index (RSI), which is currently in the overbought zone. Historically, an overbought RSI has often triggered short-term corrections for ADA, signaling that a temporary price dip could be on the horizon.

This overbought status raises caution as it implies that ADA may be at risk of profit-taking. Should Cardano’s price follow historical patterns, some recent gains could be reversed, leading to a short-term cooldown in its rally. Investors are likely to monitor this closely, as any correction could influence broader market sentiment toward Cardano.

ADA Price Prediction: Securing Support

Cardano’s price has climbed by 75% over the past five days, trading at $0.58 at the time of writing. If ADA aims to breach the $0.59 resistance and push toward $0.60, it will need continued macroeconomic support and a strong influx of buying interest to maintain its pace.

Given the current overbought signals, a correction could bring ADA down to $0.54. This drop would offer a stabilizing support level but also indicate the necessity of sustained momentum to enable further gains.

If Cardano rebounds from the $0.54 support, it could fuel a renewed rally. However, a breakdown below this price would invalidate bullish expectations, potentially leading ADA to revisit $0.46 as a new support level.

Happy Cat (HAPPY), Strategic Bitcoin Reserve (SBR), and Major Frog (MAJOR) are making waves in the crypto world. Launched recently, HAPPY on Solana has a market cap of $25 million, while SBR on Ethereum reached $10 million.

MAJOR, also on Solana, surged 361% in 24 hours, bringing its market cap to $11 million. All three coins show strong momentum, with potential for further growth.

Happy Cat (HAPPY)

Launched on Thursday, HAPPY is rapidly gaining traction as a notable meme coin in the Solana ecosystem, boasting over 34,000 daily transactions.

With a market cap of $25 million, HAPPY has drawn significant attention. If the momentum continues, hitting the $50 million milestone could be the logical next step. The coin already has a base of more than 174,000 holders.

The Relative Strength Index (RSI) for HAPPY currently reads 57.42, suggesting that it’s not in overbought territory. This indicates that there may still be potential for growth, as the RSI remains comfortably below the overbought level of 70.

Strategic Bitcoin Reserve (SBR)

The Strategic Bitcoin Reserve (SBR), launched just a day after Donald Trump’s election as president of the United States, is quickly gaining traction. Hosted on the Ethereum blockchain, and tradable on Uniswap, SBR has already amassed an impressive following, with nearly 1,700 holders and transaction volume of approximately 4,300 per day.

This swift adoption indicates a growing interest in SBR, positioning it as a noteworthy player in the decentralized finance space.

SBR recently achieved a market cap of $10 million, marking an important milestone for the token. If this level is maintained and subsequent resistance points are broken, SBR has the potential to climb further, targeting a market cap of $20 million.

Technically, the current Relative Strength Index (RSI) for SBR stands at 55.64, which is still below the overbought threshold. This suggests that there may be additional room for upward movement before the possibility of a strong correction arises, indicating potential opportunities for new investors.

Major Frog (MAJOR)

MAJOR, a new token launched on the Solana blockchain just a few days ago, is also starting to capture attention. After trading sideways for its initial few days, MAJOR experienced a remarkable surge, rising by 361% in 24 hours.

This explosive movement has brought its market cap to approximately $11 million, reflecting the growing enthusiasm around the project. As of this writing, MAJOR’s holder count stands at nearly 1,600, signaling early but robust adoption in its initial phase.

Read more: 11 Top Solana Meme Coins to Watch in November 2024

With almost 10,000 transactions per day, MAJOR’s activity level is steadily increasing, indicating heightened interest and active trading.

The token’s Relative Strength Index (RSI) is presently at 62, still below the overbought level, suggesting there might be additional room for growth before any major correction occurs. This leaves the door open for further gains as traders and investors continue to pile in, attracted by the rapid price appreciation and underlying momentum.

Notcoin (NOT) has been in a persistent downtrend since June, facing significant price declines. However, recent developments suggest a potential turning point for this Telegram-based cryptocurrency. 

A notable 25% rally has sparked optimism, providing NOT traders with a much-needed boost. This upward momentum could signal a shift as positive sentiment grows within the Notcoin community.

Notcoin Has Considerable Support

Over the past month, Notcoin’s funding rate has remained consistently positive, reflecting a generally optimistic outlook among traders. Despite NOT’s declining price in October, traders held firm, maintaining their positions as funding rates indicated a strong conviction. This resilience in the face of price declines suggests that Notcoin enthusiasts are confident about a potential recovery, indicating stable long-term support from the community.

Such sustained optimism is a promising sign for NOT’s future. The positive funding rate, coupled with recent price action, suggests that investors believe in Notcoin’s potential for a turnaround. If this sentiment continues, it could provide the stability necessary for NOT to build on its recent gains and overcome resistance levels.

Notcoin’s macro momentum is beginning to show strength, supported by technical indicators such as the Relative Strength Index (RSI). The RSI is currently gaining bullish momentum, suggesting that buying interest is on the rise. However, to sustain this growth, NOT needs to turn the neutral line at 50.0 on the RSI into a support level. 

Achieving this support on the RSI would signal sustained bullish strength, encouraging additional investor interest. For NOT to maintain its recent rally, this level of momentum must be sustained. Without a firm foundation, Notcoin may struggle to hold on to its current gains, emphasizing the importance of consistent growth indicators.

NOT Price Prediction: Recovering Losses

Notcoin’s price surged by 25% during today’s intra-day high, rebounding from the recent support level of $0.0057. This uptick reflects growing buying pressure, and the altcoin is now looking to continue this momentum with hopes of reaching higher targets.

The broader market’s bullish sentiment could aid Notcoin’s progress, provided investors resist the urge to book profits too soon. If successful, NOT’s target is to flip the resistance at $0.0094 into a support level, solidifying its position and potentially enabling further gains.

However, Notcoin has previously struggled to close above the $0.0083 resistance level. Another failed breach at this price point could prompt a pullback toward $0.0070. A drop below this level would invalidate the current bullish outlook, potentially pushing NOT back to its recent support of $0.0057, which would signal a return to the downtrend.