Cardano (ADA) Price Surges Past $1 as Analysts Forecast New ATH in 2025
As Bitcoin remains under $100K, Cardano #ADA emerges as a leading performer in the crypto market. In the last 24 hours, ADA's price has risen above $1, indicating potential for an extended rally.
Cardano Price Analysis
The 4-hour chart shows a significant bullish recovery for Cardano, with prices increasing nearly 30% from $0.843 to $1.082 after breaking through resistance. The price has surpassed the 61.80% Fibonacci level and reclaimed the psychological $1 mark, causing the 4-hour RSI to enter the overbought zone.
Photo: TradingView
This upward movement increases the likelihood of a golden crossover between the 50 and 200 EMA lines and a bullish crossover between the 100 and 200 EMA lines. Technical indicators suggest a strong bullish sentiment, with the trend approaching the 78.60% Fibonacci level, hinting at a bottom reversal with a neckline at $1.158.
A bullish breakout could target the 1.618 Fibonacci level at $1.80. Conversely, a retest near the 50% Fibonacci level, close to $1, may present a buying opportunity for traders.
Upcoming Updates to Boost the Cardano Rally
Fundamentally, the current rally lacks immediate catalysts. However, upcoming developmental upgrades, including a Bitcoin-centric decentralized financial system, are anticipated. This integration aims to connect the Bitcoin network with decentralized applications, leveraging Bitcoin's liquidity while utilizing Cardano's scalable blockchain infrastructure.
This development is expected to attract both retail and institutional investors, especially following Bitcoin ETF approvals and potential altcoin ETF approvals in 2025.
Analysts Expect New ATH in 2025
Analyst Ali Martinez noted significant upside potential for Cardano, predicting a price target of $4 based on historical price chart analysis. Despite a minor pullback observed, the current rally bears resemblance to the 2021 bull run, which also experienced a pullback of nearly 40% before reaching its peak.
#Cardano $ADA is shaping up like it did last cycle, making me think a big move is near. A push to $4 might happen within a few weeks!
— Ali (@ali_charts) January 2, 2025
The current trend displays a similar pullback of 42.65%, compared to 43.61% in the previous cycle. Martinez's estimated price target is $6.102, suggesting a potential increase of 2,210% from his initial prediction of $0.30.
Similarly, analyst Michael Van de Poppe anticipates a new bullish phase for Cardano following the current correction. He expects the trend to regain momentum, now that it has surpassed the $1 psychological mark.
Request 01 – $ADA
The scenario remains the same.
I think we're getting towards the end of this correction, through which I'm expecting a new leg up for things like $ADA.
— Michaël van de Poppe (@CryptoMichNL) December 30, 2024
Van de Poppe's bullish outlook suggests that Cardano may achieve a new all-time high in 2025 or 2026, potentially exceeding the $3 mark and breaking the nearby resistance at $1.243.