|

Cardano Price Prediction: ADA defends critical support level and reignites run to $2

  • Cardano price had to defend a critical support point at $0.33 in order to resume its uptrend.
  • The digital asset successfully defended it and can resume its massive uptrend to $2.

Cardano had a significant breakout from an inverse head and shoulders pattern on the weekly chart that had a price target of $2. As we discussed in our previous analysis, Cardano still needs to climb above $0.38 for the bulls to be in full control. 

Cardano price rebounds from $0.33 and aims for more

On the daily chart, Cardano price had to defend a crucial support level at $0.33 which also coincides with the 12-EMA. Bulls successfully stopped the price from falling lower and have bought the dip pushing ADA to $0.353 at the time of writing.

ada price

ADA/USD daily chart

According to the In/Out of the Money Around Price (IOMAP) chart still shows the strongest resistance area to be located between $0.37 and $0.38. A breakout above this point would push Cardano to its long-term price target of $2.

ada price

ADA IOMAP chart

However, the IOMAP model also indicates that there is very low support compared to the resistance above. The most significant support area is established between $0.30 and $0.32.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

Ripple stabilizes amid mixed signals as ETF inflows resume despite low retail activity

Ripple hovers around the $1.60 pivotal level at the time of writing on Wednesday, reflecting stable but weak sentiment across the crypto market. Intense volatility triggered a brief sell-off on Tuesday, driving the remittance token to pick up liquidity at $1.53 before recovering to the current level.

Crypto Today: Bitcoin, Ethereum, XRP tick up despite macro uncertainty, retail exodus

Bitcoin rises above $76,000 following an extended decline to $72,946 the previous day as Fed-related headlines keep investors on edge. Ethereum advances toward the $2,300 hurdle amid low retail interest, with futures Open Interest falling to $26.3 billion.

Aster Price Forecast: ASTER extends recovery on Stage 6 buyback program

Aster extends recovery on Wednesday, bringing its gains to over 5% so far this week. Aster launches its Stage 6 buyback program, allocating up to 80% of daily fees. Derivatives data show a large capital outflow from ASTER futures Open Interest amid reduced bullish interest.

Bitcoin steadies as bears shift focus toward $70,000

Bitcoin trades above $76,000 on Wednesday, after hitting levels not seen since early November 2024 the previous day. Derivatives traders remain defensive, with the BTC futures premium holding steady around 6.3%, signaling reluctance to take on risk.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC correction deepens as Fed stance, US-Iran risks, mining disruptions weigh

Bitcoin (BTC) price extends correction, trading below $82,000 after sliding more than 5% so far this week. The bearish price action in BTC was fueled by fading institutional demand, as evidenced by spot Exchange-Traded Funds (ETFs), which recorded $978 million in inflows through Thursday.