Cardano Price Prediction: Will ADA Price Hit $1.50 or Drop to $0.70?

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.

With whales stacking up and adoption gaining ground, Cardano’s future looks promising. We’ll keep you updated right here on Coinpedia.

FAQs