Leading analysts have updated their Cardano (ADA) price forecast, drawing attention to its historical patterns and current market dynamics.
Cardano Trading History: 2019-2020
Between 2019 and 2020, ADA traded within a range representing an accumulation zone lasting 672 days. The COVID-19 crash in March 2020 led to a 56.20% price decline. However, ADA then surged by 4095.73% to a peak of $3.085.
Second Accumulation Zone: 2022-2023
Following its peak, ADA entered a second accumulation phase from early 2022 to late 2023. This period saw fluctuations ranging from -65.93% to a positive swing of 75.34%, indicating consolidation and market indecision.
Current Dynamics and Forecast for 2024-2025
Recent price action suggests ADA is attempting a breakout, potentially entering a new bullish cycle. The projected trajectory targets $6.248 by July 2025. Key support is around $0.590, with resistance anticipated near $6.248.
Analysts suggest Cardano may repeat its previous growth pattern. This development might be influenced by both internal and external factors driving demand.
