The post Cardano Price Prediction: Will ADA Price Hit $1.50 or Drop to $0.70? appeared first on Coinpedia Fintech News
Cardano (ADA), a veteran layer one (L1) blockchain backed by a vibrant web3 ecosystem, has significantly shifted to bullish sentiments in the past 15 months. The ADA’s bullish upswing since November 4, which coincided with the re-election of Donald Trump, has confined macro bullish outlook via a weekly higher high and higher low.
The large-cap altcoin, with a fully diluted valuation of about $39 billion and a 24-hour average trading volume of around $871 million, has experienced a significant resistance above $1.24. From a technical analysis standpoint, ADA’s price faces midterm bearish sentiment before enough buyers enforce a bullish outlook, potentially in the first half of 2025.
Midterm Targets for ADA
In the daily timeframe, Cardano price has been forming a potential head and shoulder pattern after hitting the upper border of the multi-month megaphone consolidation. With the daily Relative Strength Index (RSI) having formed a bearish divergence, ADA’s price is well positioned to drop in the coming days before rebounding in the first quarter of 2025.
Furthermore, ADA price has consistently closed below the 50-day Moving Average (MA) signaling a notable decline in the previously bullish momentum. In case of further crypto selloff, ADA price should find a solid support range between 77 cents and 68 cents.
Fundamentals to Consider
The Cardano network has grown to a vibrant web3 ecosystem, with over $433 million in total value locked (TVL) and over $22 million in stablecoins market cap. The introduction of the decentralized governance on the Cardano network through the CIP-1694 features of the Chang hard fork has significantly helped the blockchain attract more on-chain users, amid the mainstream adoption of digital assets catalyzed by institutional investors.
According to on-chain data analysis provided by Santiment, Cardano whale addresses, with a balance of between 1 million and 10 million coins, have purchased over 20 million coins in the past 48 hours and currently hold nearly 6 billion tokens. With over 21.8 billion ADA staked to secure the Cardano network, the overall circulating supply is gradually declining, which is extremely bullish in the long haul.
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FAQs
According to our Cardano price prediction, the altcoin’s price could hit a maximum of $2.62 in 2025.
Cardano is an underrated investment and has a high chance of performing in the next couple of years, considering the plethora of applications.
Even the most bullish of Cardano supporters acknowledge that Cardano will only potentially surpass Ethereum within 18 to 20 years.
