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Fundstrat’s Tom Lee Says Recent Market Dip an Opportunity for Investors – Here’s Why

Veteran investor Tom Lee says investors are better off remaining bullish on markets despite the recent correction in equities and other risk assets. In a new interview on CNBC, Fundstrat’s head of research says that the correction in equities – which saw the S&P 500 dip from above 6,000 to 5,832 – is likely an opportunity for investors to go long rather than stay cautious. “This is another buying opportunity in our view. 2024 has proven to be a year where the market’s been strong and it has eluded many opportunities for sustained weakness. I know [December 18th’s] pullback was really painful, but to us, I think the fundamental supporting stocks are intact and I think it’s a good opportunity for investors here.” Lee notes that the volatility index (VIX) – which measures the stock market’s expectation of volatility based on S&P 500 index options – rose sharply on December 18th. He says that historically, such a rapid rise has correlated with market bottoms. “The market has been bleeding lower. If you look at internals for the last ten days, [December 18th] looks capitulatory because not only did we have a 90% down day, but the VIX exploded by 75%. There are only four times in history where it’s risen 60% in a day, so [December 18th] was the fifth time in its 35-year history. Of those four times, the market recovered all of its losses within a week three out of the four times. The fourth time it took a month. So I think what you had was people panicking to get out of a momentum trade that’s ending because we’re so close to year-end. But here’s the interesting thing. The forward VIX-futures curve barely moved. So it was almost as if people were seeking protection through the VIX on [December 18th].” As of Friday’s close, the S&P 500 traded at 5,930 points. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Fundstrat’s Tom Lee Says Recent Market Dip an Opportunity for Investors – Here’s Why appeared first on The Daily Hodl . CoinTurk News

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Here’s Cardano’s (ADA) path to $6

Cardano ( ADA ) is flashing familiar signals, with its current price action mirroring an earlier bull cycle that led to massive gains. Specifically, renowned cryptocurrency analyst Ali Martinez highlighted a striking similarity between ADA’s 2020 rally and the current market structure, suggesting that a surge to $6 could be on the horizon, he shared in an X post on December 22. In 2020, ADA experienced a steep correction following the initial breakout from its accumulation phase. The first significant dip during ADA’s uptrend occurred at almost the same point in the cycle as the current correction. What followed that correction was a 4,095% rally, taking ADA from under $0.10 to an all-time high above $3 by August 2021. In 2024, Cardano appears to be repeating this pattern . After breaking out from a lengthy accumulation phase, ADA’s price retraced by around 42%, similar to its 2020 pullback. ADA price analysis chart. Source: TradingView/Ali_charts Therefore, if history repeats itself, ADA could climb as high as $6, reflecting an increase of about 560% from the asset’s current valuation. Such a price target would likely put Cardano’s market cap at almost $210 billion, placing it in the third spot among assets with the highest market cap, provided other cryptocurrencies record minimal growth. Martinez initially noted that Cardano could hit the $6 mark between July and September 2025. At the same time, pseudonymous trading expert Kenshiyesreel , in an X post on December 22, observed that ADA would likely target $4 as the next major resistance zone. Based on market structure analysis, the asset appears to have transitioned from an accumulation phase into a markup phase, signaling rising demand and bullish sentiment. The $4 price level coincides with the distribution zone, where overbought conditions may arise. ADA price analysis chart. Source: TradingView Cardano’s fundamentals Cardano’s ongoing efforts to enhance decentralization may support ADA’s price recovery. Notably, founder Charles Hoskinson envisions a fully decentralized blockchain governance model that includes all users and token holders. Welcome to governance everyone, it`s messy and tough, but it`s the only way to include everyone. For the last decade, I`ve tried to do everything in my power to ensure that Cardano is run by the millions who use it and own ada. We are at a very critical inflection point where… — Charles Hoskinson (@IOHK_Charles) December 16, 2024 To achieve this, Cardano seeks to finalize a community-ratified constitution and secure approval for its budget system, positioning the platform as a leader in the decentralized revolution. The push for decentralized governance could reinvigorate investor confidence and drive ADA’s long-term price potential. With the Chang Hard Fork in September 2024 setting the stage for these changes, the ongoing transformation might signal a pivotal growth catalyst for the platform and its native token. State of Cardano Q3 Key Update: Cardano completed phase one of the Chang Hard Fork, paving the way for decentralized on-chain governance by ADA holders. QoQ Metrics ???? • DeFi TVL ⬆️ 13.3% • Liqwid`s TVL ⬆️ 77.2% • USDM market cap ⬆️ 145.5% Read the full report ????… https://t.co/k8L9CkF4b8 pic.twitter.com/oCYBdR7Qna — Messari (@MessariCrypto) December 20, 2024 ADA price analysis By press time, ADA was trading at $0.89 with daily losses of about 0.92%. The decentralized finance (DeFi) asset has plunged almost 18% on the weekly timeline. ADA seven-day price chart. Source: Finbold Although ADA is facing a correction soon, there is still room for regaining bullish momentum, considering the price sits above the 50-day simple moving average ( SMA ) of $0.8519 and the 200-day SMA of $0.493, signaling strong upward momentum. With a 14-day RSI of 44.54, ADA is in neutral territory, neither overbought nor oversold, with $1 as the next key resistance target. Featured image via Shutterstock The post Here’s Cardano’s (ADA) path to $6 appeared first on Finbold . CoinTurk News