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Elena R
Elena R
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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Dec 30, 2024 07:21 UTC
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Cardano Price Prediction: Will ADA Price Hit $1.50 or Drop to $0.70?
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ADA $ 0.6039 (-7.45%) 
Cardano (ADA) has shown bullish momentum recently, but technical indicators suggest potential short-term bearishness.
Despite the short-term bearish outlook, Cardano's long-term prospects remain positive.
Cardano's price is likely to find support between 77 cents and 68 cents in case of a further crypto market downturn.
Cardano (ADA), a long-standing Layer 1 (L1) blockchain with a thriving Web3 ecosystem, has shown strong bullish momentum over the past 15 months. Its recent upswing, which began on November 4 and coincided with Donald Trump’s re-election, highlights investor optimism. ADA’s price has maintained a macro bullish trend, forming a higher high and higher low on the weekly chart.
What’s next for ADA?
With a fully diluted valuation of $39 billion and an average daily trading volume of $871 million, Cardano has hit significant resistance at the $1.24 level. From a technical analysis perspective, ADA may face short-term bearish pressure, with analysts expecting a more sustained bullish recovery by early 2025.
Midterm Targets for ADA
On the daily chart, ADA appears to be forming a head-and-shoulders pattern near the top of a multi-month consolidation range. A bearish divergence in the Relative Strength Index (RSI) suggests the price could drop in the near term. ADA has also been closing below its 50-day Moving Average (MA), signaling weakening bullish momentum.
If the crypto market sees additional sell-offs, ADA’s price is likely to find solid support between $0.77 and $0.68.
Fundamentals to Consider
Despite price fluctuations, the Cardano network is growing rapidly. It now holds over $433 million in Total Value Locked (TVL) and has a stablecoin market cap exceeding $22 million. The recent Chang hard fork introduced decentralized governance via CIP-1694, attracting more on-chain users and aligning with the rising institutional interest in digital assets.
On-chain data from Santiment shows that Cardano whales, holding between 1 million and 10 million ADA, have added over 20 million tokens in the last 48 hours. These wallets now collectively hold nearly 6 billion ADA. With more than 21.8 billion ADA staked to secure the network, the circulating supply continues to decrease—a promising indicator for ADA’s long-term value.
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With whales stacking up and adoption gaining ground, Cardano’s future looks promising. We’ll keep you updated right here on Coinpedia.
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.
Yes 
No 
