Crypto markets rebounded Monday after a quiet weekend. Bitcoin bounced back near the $110,000 mark. Cardano also surged 3% in the last 24 hours, outpacing many of the altcoins. It is currently trading at $0.767, up 3.8%.
Will ADA Hit $1 Soon?
According to CoinDCX, ADA could trade between $0.66 and $1.88 in 2025. Some analysts predict that it could even reach up to $2.36. To continue its bullish trend, ADA needs to break out above the $0.85-$0.90 resistance zone. If it holds above $0.83, then we could see a strong push toward $0.90 or even $1.00 soon.
On the flip side, if ADA drops below $0.76, then it might slip into a bearish trend with support levels at $0.75 and $0.70.
Bullish Technical Signs For ADA
Cardano’s most technical indicators are neutral, while MACD shows a slightly bearish sign. RSI is also balanced at 53. The short-term and mid-term EMAs and SMAs are also bullish. Price is also trading above key averages like 10, 20, 30, 50, and 100-day lines. Only the 200-day moving average is bearish, which shows long-term resistance.
Further, there is growing optimism over the launch of ADA ETFs in 2025, which could drive demand for the coin. To top it all, nearly $1 billion worth of ADA has been pulled off exchanges, which shows that investors are accumulating ADA and are confident in its growth prospects.
Defi Activity On Rise
Cardano’s Defi activity is also rising as its Total Value Locked (TVL) is up over 21% since early April, according to data from DeFiLlama. The recent upgrades have made the network faster and more compatible with other chains. And new cross-chain partnerships are bringing fresh liquidity into its ecosystem.
Recently, the Cardano founder offered to help grow XRP’s Defi ecosystem by integrating RLUSD without any fees. Discussions between Cardano and Ripple are still ongoing to explore this partnership.
