Highlights
- Over the past 180 days, ADA price has surged 102.82%, outperforming Bitcoin, Ethereum, and Binance Coin, reflecting strong investor confidence.
- A multi-year analysis shows that ADA could retest $2 and reach $3 if momentum is built and an ADA ETF gains approval.
- Investors have increased their confidence in Cardano’s ecosystem development and long-term growth potential, more likely under the Trump administration.
Cardano’s growing ability to connect different blockchains has significantly enhanced its market performance. There was a time when the ADA price lingered below $0.50 for several years. However, recent upgrades and improvements to its ecosystem have changed that narrative completely.
Recent data from Wanchain highlights that ADA crypto is now one of the most interconnected blockchains. It is strongly facilitating seamless connections with major networks.
For instance, connecting with Bitcoin, Ethereum, Solana, Avalanche, BNB Chain, and Polygon has become much more seamless than it was before. This extensive interoperability allows for smooth asset transfers across various blockchains, boosting Cardano’s appeal.
The attractiveness of Cardano increases further as decentralized applications (dApps) begin to leverage cross-chain solutions.
This growing integration is expected to enhance the long-term adoption and utility of the token. This strengthened its core value and potentially drives the ADA price higher.
As of now, ADA price has seen a 0.70% decrease in the last 24 hours, trading at $0.7384. With a market cap of $25.84 billion. However, the pressing question remains is that has the ADA price reached its bottom, or is there still room for further movement in future sessions.
What Could Happen In ADA Price In Coming Weeks?
The Cardano price has been hovering between $0.68 and $0.75 for some time, establishing a familiar range on the daily chart.
Recently, it dipped below $0.68 but quickly rebounded, indicating that this level may serve as a solid support. If ADA price can maintain its position above this threshold, it could represent the lowest point for now. However, should the market shift, there remains a possibility of further declines.
On the resistance front, ADA price in the short term is encountering a hurdle at $0.80. Surpassing this level won’t be straightforward, but if the market maintains a bullish sentiment and positive momentum continues, a breakout could propel the Cardano price toward $1.
The last time the ADA price approached the $1 mark was when Donald Trump made headlines about establishing a crypto reserve that included ADA. This news triggered a surge in the ADA price, soaring nearly 70% and briefly crossing the $1 threshold before retreating.
Currently, the market sentiment appears optimistic. If ADA price can hold its support level while breaking through resistance, it may be poised for another attempt at reaching $1.
However, as always in the crypto space, unpredictability reigns, and the future trajectory will largely depend on how the overall market unfolds in the coming weeks.
Multi-year Price Action Shows ADA Price Potential For $3
Analyzing the ADA price chart over multiple years on a weekly timeframe reveals a significant shift that the token has emerged from its previously undervalued state successfully.
Following the rally sparked by Donald Trump in November 2024, ADA price established a high-volume profile level and has been consolidating at this level on the weekly chart when writing. It indicates ongoing accumulation within the cryptocurrency.
If momentum builds and ADA price breaks above its 2024 high, it could set its sights on a retest of the $2 mark. A successful breakout from this level might even propel the price to $3 or higher.
Additionaly, with discussions around an ADA ETF gaining traction and approval odds increasing, a successful launch could lead to a surge in trading volume. This could push ADA price toward even more ambitious targets.
ADA Price Has Outpaced Others In Terms Of Gains In Past 180-Days
In addition, Cardano has emerged as a top-performing cryptocurrency over the past 180 days, outpacing Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in terms of value growth.
According to TapTools, the ADA price has surged by an impressive 102.82% since January, while Bitcoin has seen a gain of 39.98% and Binance Coin has risen by 10.53%. In contrast, Ethereum has faced challenges, experiencing a decline of -19.80%.
This positive market response to Cardano underscores investors’ confidence in the project’s ongoing ecosystem development and its potential for future growth.
Overall, the strong performance of ADA crypto reflects a growing belief in its long-term viability and the advancements being made within its network.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Reza Khosravi brings sharp analytical insight to the world of cryptocurrency. With extensive experience in technology reporting, he focuses on translating complex crypto trends into accessible content for his audience, making him a trusted voice in Iran’s evolving digital economy.