TLDR

ADA is trading sideways between $0.695 and $0.75, with a breakout above $0.756 potentially triggering a 12% surge to $0.85
Traders remain bullish with $17M in long positions despite uncertainty; trading volume jumped 40%
Technical analysis shows a rounding-bottom pattern and morning-star formation suggesting potential upward momentum
White House Crypto Working Group included ADA among top cryptocurrencies being considered for government stockpile
Analysts have set ambitious price targets ranging from $1 in the short term to $10 in the long term (a 1,300% increase)

Cardano (ADA) has been trading sideways over the past 24 hours, holding steady at around $0.74 while many other major cryptocurrencies experienced upward momentum. This sideways movement comes from ADA’s prolonged consolidation between the $0.695 and $0.75 price levels.

The eighth-largest cryptocurrency by market cap is showing signs of a potential breakout, according to recent technical analysis. ADA has formed a rounding-bottom pattern with consecutive bullish candles, suggesting a possible reversal from recent downward pressure.

Cardano
ADA Price

Trading volume for ADA has seen a 40% jump in the past 24 hours. This surge in volume indicates heightened trader participation compared to previous days, potentially signaling building momentum for a price move.

Despite unclear price action, market sentiment appears to favor the bulls. Data from on-chain analytics firm Coinglass reveals traders have built $17 million worth of long positions and $3 million in short positions over the past day.

Traders are currently over-leveraged at $0.711 on the lower support side and $0.742 on the upper resistance side. These levels represent key areas to watch for potential breakout or breakdown signals in the coming days.

Open interest in ADA futures has climbed to $785.91 million. The long-to-short ratio funding rate has reached a nearly neutral point at 1.0396, though the current funding rate of -0.0029% suggests slight weakness in immediate bullish sentiment.

Technical Analysis

Technical indicators provide mixed signals for ADA’s short-term outlook. The daily Relative Strength Index (RSI) is hovering near the neutral 50 level as traders await the next decisive move in either direction.

ADA faces major resistance from the 200-day Exponential Moving Average (EMA) on the daily timeframe. Breaking through this key level would be a strong bullish signal and could trigger accelerated upward movement.

The price is currently consolidating between the $0.70 support and the 61.80% Fibonacci retracement level at $0.7351. A successful breakout above this Fibonacci level could target the 78.60% retracement near $0.92.

Based on recent price action, if ADA breaks above the upper boundary of the consolidation pattern and closes a daily candle above $0.756, analysts project a possible 12% surge. This would push the price toward the $0.85 level in the near term.

Conversely, if ADA falls below the lower boundary and closes below $0.69, support at $0.65 would be the next target. Several analysts have identified additional support levels between $0.50 and $0.60 should a deeper correction occur.

White House Crypto Working Group

Looking at longer-term prospects, ADA has received mention from the White House Crypto Working Group. Executive Director Bo Hines included Cardano among cryptocurrencies being considered for the government’s crypto stockpile alongside Bitcoin, Ethereum, XRP, and Solana.

This recognition places Cardano in elite company among top cryptocurrencies. When asked about selection criteria, Hines explained these tokens were chosen based simply on having the largest market caps in the space.

Adding to Cardano’s growing profile, founder Charles Hoskinson is set to moderate a discussion with Donald Trump Jr. and World Liberty Financial. The event will take place at the DC blockchain summit on March 26, focusing on digital liberty and expanding global access to digital assets.

Some analysts have set ambitious long-term price targets for ADA. Crypto analyst Dan Gambardello suggests ADA could reach $10 in the coming bull cycle, representing a 1,300% increase from current prices around $0.70.

Gambardello points to Cardano’s foundational technology as a competitive advantage. He notes that ADA’s technical strengths weren’t fully developed during the previous bull market, when it still managed to surge over 2,000% from $0.13 to over $3.

In the near term, the $1 mark remains a key psychological target for bulls. Fibonacci projections indicate that a successful breakout above current resistance levels could drive ADA toward this milestone, though clearing the 200-day EMA hurdle is essential first.

The post Cardano (ADA) Price Prediction & Analysis: Surge to $10 Incoming? appeared first on CoinCentral.

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Filed under: News - @ March 25, 2025 8:28 am