Cardano (ADA) is currently trading at $0.80 and shows signs of recovery. However, further movement depends on retaining key support levels.
Current Position of Cardano (ADA)
Cardano (ADA) shows signs of life at $0.80, but it is too early to call it a full recovery. After a steady rise from a recent low, the coin is now cooling off slightly. The next few days will show whether ADA can maintain its position or continue to lose momentum.
Key Support Levels
Currently, ADA has key support levels at $0.784, $0.769, and $0.755. If the price drops below $0.755, the next stop could be at $0.74, and a drop under $0.71 would signal the end of the rally. If ADA stays above these levels, it is expected to reach $0.852 to $0.87 soon.
Analysis and Forecasts
Analyst Ali Martinez expresses optimism, noting that ADA's price is following the pattern of its last cycle, albeit at a slower pace. "Cardano [ADA] is mirroring the price structure of its last cycle, but unfolding more slowly. It looks like we’re at the very start of an explosive move," he stated. Martinez believes this could be the beginning of a significant surge, possibly even to $2 in the long term.
If ADA can hold the support level and extend this rally, it could attract additional buyers, setting the stage for further increases later in 2025. The market is closely watching Cardano's next steps.
