The crypto markets are showing sluggish movements towards the year's end. Cardano, a key player, is also under bearish influence.
Current Market Situation
Despite expectations for a bullish year-end in the crypto industry, assets like Cardano are showing slow growth. The bullish trend is at risk, as the charts display gradually decreasing highs and lows. Notably, the price may remain below critical resistance levels in the near future.
ADA Chart Analysis
The current ADA daily chart is forming an inverse V-shape pattern, suggesting a return to levels around $0.4. Trading volume has plummeted, indicating volatility that may impact the price actions in 2025. Historical data show potential for a bullish run, given a rebound from current levels. However, resistance in the $1.29-$1.5 zone remains strong.
Forecasts and Expectations
The Gaussian channel has turned bullish, signaling a trend shift. Yet, buying pressure is dropping, and MACD lines are heading towards a bearish crossover. Despite this, a quick rebound is anticipated, sustaining bullish hopes. If ADA holds above the support level until year-end, reaching $1 in early 2025 is plausible.
Cardano has the potential for recovery by 2025, considering current market conditions and analytical data. Success depends on staying above key support levels.
