Cardano is the third-generation chain, which was built to overcome the shortcomings of the primitive chains. Having such a wide use case, the ADA price was believed to closely follow Bitcoin or at least Ethereum. Unfortunately, the price could reach a maximum of $3 and now is struggling to reclaim $1 after facing a notable rejection from highs at $1.327. The market participants remained pessimistic about the Cardano price rally and shifted their focus away from the token.
Meanwhile, the current pullback offers a good entry point, as in the wider perspective, the ADA price rally is expected to climb more heights.
The recent rise in the ADA price has attracted huge social sentiment as well. As per a social intelligence platform, Lunar Crush, Cardano’s social activity across the crypto markets is charging higher. As the price witnessed a rise of over 5%, social activity also increased by over 2.35%. However, the price is juggling around a pivotal support of around $0.92 as a rise beyond the range may revive a bullish hope for above $1.
What’s next for the ADA price rally? Will it mark a new ATH in 2025?
The historical price action of ADA suggests the token is reciprocating the previous pattern. The ADA price had formed a double-top pattern followed by a significant pullback, marking interim lows. A similar pattern has been observed at the start of the year, followed by a notable upswing similar to the previous one, suggesting a 7x to 10x run throughout 2025, marking a new ATH somewhere around $10.
Apart from the chart pattern, the RSI is also displaying a similar trend as it is about to reenter the overbought zone, displaying a bullish divergence. On the other hand, the Gaussian channel has just flipped into green, suggesting the start of a bullish trend. Therefore, the Cardano (ADA) price is believed to remain consolidated for a few weeks, followed by a massive breakout to the ascending trend line, completing a massive parabolic curve.
