Cardano’s mid-2025 price targets – Here’s where traders can expect ADA to be
The post Cardano’s mid-2025 price targets – Here’s where traders can expect ADA to be appeared on BitcoinEthereumNews.com.
Cardano’s price broke through another crucial price level on the charts ADA’s price level fueled FOMO within the market Cardano (ADA) has been making headlines recently, with its price action sparking discussions about its potential to reach a new milestone by mid-2025. With both technical and on-chain metrics flashing mixed signals, this ambitious target has captivated investors and analysts alike. Let’s dive into the data to evaluate whether ADA’s price has what it takes to climb these heights. Cardano’s price momentum – A breakout in progress? Cardano, at the time of writing, was trading near $0.72, following gains of over 20% in the last 24 hours. This surge marked a significant breakout above its 50-day and 200-day moving averages, at $0.39 and $0.38, respectively. Such a move is often a sign of strong bullish momentum in the short term, with buyers firmly in control. Additionally, the Relative Strength Index (RSI) climbed to 82.81, pushing the altcoin into overbought territory. While this could be a sign of strong buying pressure, it also seemed to hint at the potential for a short-term correction. Especially since traders may look to take profits. Source: TradingView Another key indicator to note is the Fibonacci retracement level. Cardano has tested the 0.618 retracement level, going past $0.7 – A critical resistance zone. Breaking through this level could pave the way towards $0.80 – A key target in its upward trajectory. Meanwhile, the MACD indicator flashed a positive trend, with its line ascending steadily while reinforcing the prevailing bullish sentiment. However, sustained momentum will be necessary to overcome the looming resistance level. Cardano’s on-chain metrics – Network activity and accumulation At the time of writing, on-chain activity painted a compelling picture of Cardano’s potential growth. Daily active addresses were over 58,000 in the last trading session, according…
Filed under: News - @ November 17, 2024 1:00 am