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.
Source: TradingView
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.
The post Can Cardano Price Revisit ATH in 2025? appeared first on CoinGape.
