The cryptocurrency market is known for its volatility, and Cardano (ADA) is no exception. This article examines recent trends and provides a forecast for January 2025.
Recent Cardano Price Movements
As of today, Cardano (ADA) is priced at $0.923695 with a 24-hour trading volume of $2.19 billion and a market capitalization of $32.47 billion. The price has increased by 0.28% over the last 24 hours.
Hourly Chart Analysis of Cardano
The hourly chart depicts a downtrend in ADA, characterized by lower highs and lows. The RSI indicates bearish momentum. Support stands at $0.91, with resistance at $0.95.
Daily Chart Analysis of Cardano
The daily chart reflects a strong correction following a rally in late 2024. Support exists between $0.88 and $0.90, with resistance at $1.00. A break of the trendline suggests continued downward risk.
While Cardano's price action shows bearish signs, the idea of crashing to $0 is unlikely due to strong support zones and an active developer community.
