As the cryptocurrency market rebounds with Bitcoin crossing the $95,000 mark, Cardano (ADA) is showing signs of a significant recovery.
With an 8.69% surge in the past 24 hours, ADA has reclaimed the $0.90 level and is poised for a potential bullish run in 2025. Analysts, including Michaël van de Poppe, suggest that this could lead to a new all-time high (ATH).
Let’s break down ADA’s price action, analyst insights, and what traders should watch for in the coming months.
Cardano’s Recent Performance
Cardano’s recovery in late 2024 has set the stage for a bullish continuation. Key highlights:
- Current Price: $0.90
- 24-Hour Price Increase: 8.69%
- Market Cap: Nearly $33 billion
- 52-Week High: $1.327
After surging from $0.326 to $1.327, ADA entered a correction phase, with prices dropping nearly 40%. Now, signs of bearish exhaustion suggest that this pullback could end, paving the way for another rally.
Analyst Insights
Optimal Entry Points
Michaël van de Poppe has identified $0.7460 as an optimal entry point for long-term traders, assuming further market corrections. However, ADA is already showing signs of recovery, with key levels to watch at:
- $0.9850: Resistance level in the short term.
- $1.2430: A significant barrier that ADA could test before consolidating.
Elliott Wave Theory
According to Elliott Wave Theory, ADA’s bullish cycle is likely in its third wave—a phase that often results in substantial price gains. If this theory holds true, ADA could see a massive rally in 2025, potentially setting a new ATH.
ADA Price Targets for 2025
Short-Term Targets
- $0.9850: Initial resistance.
- $1.2430: A critical level for short-term traders before potential sideways consolidation.
Long-Term Targets
- $1.327: Previous 52-week high, likely to be tested.
- New ATH: With sustained bullish momentum, ADA could surpass its previous ATH of $3.10, potentially hitting higher levels in 2025 or 2026.
Technical Indicators
Bullish Momentum
- Lower Price Rejections: Recent pullbacks show signs of bearish exhaustion, signaling potential upward momentum.
- Volume and Sentiment: Increasing buying activity supports a bullish outlook.
Support and Resistance
- Support Levels: $0.7460 (optimal entry for long-term traders).
- Resistance Levels: $0.9850 and $1.2430.
What Traders Should Watch
For Long-Term Investors
The current pullback offers one of the best opportunities for accumulation, with ADA potentially entering the third wave of its Elliott cycle. A rally to new highs may unfold in 2025 or 2026.
For Short-Term Traders
Look for price action around $0.9850 and $1.2430. A bullish breakout above these levels could indicate further gains, while consolidation might suggest sideways movement.
The Path to an All-Time High
Cardano’s price recovery, coupled with strong market conditions, suggests that ADA could see a significant rally in 2025. While resistance levels at $0.9850 and $1.2430 present short-term challenges, the potential for a new all-time high remains strong.
Long-term traders should consider accumulation during pullbacks, while short-term traders can capitalize on ADA’s recovery momentum.
