Can Cardano Price Revisit ATH in 2025?
Highlights
- Bullish head and shoulders pattern suggests upcoming rise for Cardano price.
- Support at $0.567 critical for bullish reversal momentum.
- Increased market volume indicates growing investor interest.
Cardano (ADA) price has been navigating a downward trajectory since hitting its peak price of $1.30 earlier in the year. Despite a modest uptick during the Christmas season, the persistent bearish pattern has led investors to reconsider their stakes in ADA. The cryptocurrency’s continued presence in a descending channel raises questions about its potential to reach new highs in 2025.
How Cardano Price Can Hit ATH in 2025
Cardano price is projected to achieve a new all-time high (ATH) by 2025, based on a technical analysis chart. The chart delineates a potential head and shoulders pattern, indicating a bullish reversal could propel ADA’s price beyond previous records.
The analysis pinpoints several critical zones and trajectory paths that ADA might follow in the coming years. Initially, the currency faces a substantial support zone around $0.567. If this level holds, it could form the base for a potential surge. According to the chart, after touching this support, the top altcoin might ascend to test higher resistance levels.
Experts suggest that a significant rise could occur post-2024, following the completion of the right shoulder of the pattern. This movement aligns with a projected trendline that sees ADA gradually climbing, potentially peaking at $3.09, which would surpass its former ATH.
The pattern analysis on the chart highlights a drop of approximately 7.75% from the neckline of the head and shoulders pattern. Such retracements are common in bullish reversals, often seen as consolidation before a strong upward movement.
ADA Price Analysis
Cardano price has seen a recent dip below the critical $1 threshold after briefly peaking earlier this month amidst a wider bullish trend in the crypto market. Despite this setback, there’s potential for ADA to rebound by 20% come January 2025, possibly reaching the $1.20 level.
If the momentum continue, a surge to $3.10 is conceivable, replicating its 2021 performance. Conversely, a bearish turn could push its value below $0.80.
Currently, the ADA price trading value has decreased by 1%, sitting at $0.8612. Nonetheless, there’s a noticeable 50% increase in market volume, now at $891 million. This uptick indicates a growing interest in Cardano, even amid price fluctuations.
In conclusion, while the Cardano price journey back to its ATH by 2025 faces significant challenges, the potential for a bullish reversal remains. Continued support and market interest could indeed set the stage for ADA to reach new heights.
Frequently Asked Questions (FAQs)
1. What is a 'head and shoulders' pattern in trading?
2. What could be the base support for a Cardano surge?
3. When might Cardano potentially hit a new ATH?
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