Cardano (ADA) Soars by 20% Daily, Nearing $1.54 Price Mark Due to Trendline Breach

Cardano (ADA) Soars by 20% Daily, Nearing $1.54 Price Mark Due to Trendline Breach

Cardano (ADA) has experienced a significant breakout, surging near the $0.91 mark, and the cryptocurrency is now projected to target price levels ranging from $0.97 to $1.18 in the near to medium term.

Short-Term and Medium-Term Targets

Key analysts and forecasts suggest that ADA will face a critical resistance at around $0.97, which, if broken, could pave the way for a bullish continuation. This level sits just above the current trading price of approximately $0.90, indicating a moderate upside of about 7.8% in the coming week.

In the medium term, the price of ADA is projected to range between $1.05 and $1.18, reflecting around 15-25% upside potential. This projection is based on technical analysis patterns like symmetrical triangles and renewed bullish momentum after the trend break.

Longer-Term and Ultra-Bullish Forecasts

More ambitious 2025 price predictions target $1.13 to $1.50, underpinned by Cardano’s ongoing network upgrades (e.g., CIP-112 for smart contract security and stake pool optimizations) and institutional interest, including potential ETF approvals and partnerships.

Longer-term ultra-bullish forecasts suggest that ADA could reach $2.36 to $5.66 by the end of 2025 if adoption accelerates, the Hydra scaling solution deploys successfully, and the smart contract ecosystem expands robustly. These come from sources like Digital Coin Price, CoinCodex, and Benzinga analysts.

Factors Influencing the Price Move

The sharp move above $1.00 forced many traders out of their bearish bets, adding fuel to the rally. The trendline break is on strong volume, showing firm activity around the level. Additionally, the price now sits above former resistance, and traders are watching $0.80 on the downside, as a move below this level may indicate that the breakout has failed.

Development Activity and Network Usage

Despite a drop in development activity on Cardano's codebase to 25.76, the lowest since early July, the price move and network usage show growing interest. Daily active addresses on the Cardano network reached 42,309, and the trendline break has sparked discussions about a possible spot ETF tied to ADA.

In summary, the bullish trajectory of Cardano is supported by both technical momentum and the long-term strategic roadmap of the platform, focused on security improvements and institutional readiness. If buyers push through the $0.92 level, the chart shows possible next steps toward $1.07, $1.28, and $1.63. However, a critical support level lies at approximately $0.85, below which a bearish correction could occur.

1. Trading activity in the near term sees Cardano (ADA) aiming for price levels between $0.97 and $1.18, driven by key resistance levels and bullish momentum.
2. In the medium term, with technical analysis patterns like symmetrical triangles, the price of ADA is projected to range between $1.05 and $1.18, reflecting upside potential of around 15-25%.
3. Long-term and ultra-bullish forecasts predict that ADA could reach as high as $2.36 to $5.66 by the end of 2025, influenced by factors such as network upgrades, institutional interest, and the success of scaling solutions like Hydra.

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