The crypto markets are heading towards the end of the year, which is expected largely to be bullish. However, the broader market trends and top cryptos like Cardano demonstrate a sluggish trend with fewer possibilities of a bullish rebound. The ADA bulls are trying to validate a decent ascending trend, but the overall trend remains under a bearish influence as the rally is constantly printing lower highs and lows.
In such a scenario where the price may close the yearly trade under the crucial resistance, will Cardano reclaim $1 in Q1 2025 & mark new highs?
The daily chart of ADA suggests the price is undergoing an inverse v-shape pattern that could drag the levels back to their initial position at around $0.4. The volume has plunged to the ground, suggesting a massive drop in the volatility that could raise serious concerns over the upcoming price action in 2025. In the bull run, over? Will ADA’s price fail to follow the market trend as it did before?
The historical chart of the ADA price rally suggests that the token has room to revamp a strong bull run, provided it initiates a strong rebound from the current levels. After failing to rise above the resistance zone between $1.29 and $1.5, the price plunged but is holding above the trend reversal zone between $0.78 and $0.85, acting as a strong support zone. However, the price trades above the bearish zone as it has broken the multi-year descending trend line, which indicates a flip could be fast approaching.
The Gaussian channel has turned bullish after being bearish for a couple of months, indicating a momental shift in the trend. Besides, the MACD suggests a drop in the buying pressure and the MACD & signal line are heading for a bearish crossover. Meanwhile, the levels remain within the positive range, suggesting a quick rebound soon after the bearish crossover, keeping the bullish hopes alive.
Therefore, the Cardano (ADA) price rally may still go long in 2025 if the token manages to trade above the support zone until the year-end. This could help the price reclaim $1 in the first few days of 2025 and maintain a healthy upswing thereafter.
