Cardano (ADA) Hovered Around $0.6220 on Thursday, Demonstrating Strength After Recovering From a Support of $0.60

Despite price action still being range-bound, ADA's steady rise from recent low levels points toward a change of momentum.

Cardano (ADA) price hovered around $0.6220 on Thursday, demonstrating strength after recovering from a support of $0.60. Despite price action still being range-bound, ADA’s steady rise from recent low levels signaled a change of momentum. The coin remained trapped below a descending trendline and layers of exponential moving average resistance.

Technical Charts Signal Crucial Levels to Watch As Cardano Trades At $0.6175

The level of $0.60 was crucial support, resisting bearish force. A string of higher lows was developing, indicating a rising support line. The pattern, coupled with higher buying volume, signaled a potentially bullish trend assuming support is maintained.

At the same time, layers of exponential moving averages posed significant resistance. After bouncing off the 20-week EMA, ADA encountered the 50-week EMA, offering a good opportunity for a final attempt to break through.

Ultimately, the descending trendline remained a formidable barrier. A decisive close above this trendline could pave the way for a more substantial rally.

Analysts Predict ADA’s Price Increase To $1 By 2025

Cardano’s 2025 roadmap is boosting investor confidence with a focus on scalability through the Ouroboros Leios protocol. Entering the Voltaire era marks a governance milestone, as the platform evolves toward full decentralization. Community-driven decision-making and sustainability are central to this transition, adding long-term credibility to the project’s evolution.

From an investment standpoint, ADA stands out due to its academic foundation, peer-reviewed architecture, and loyal community. Though still 80% below its all-time high, ADA’s undervaluation appeals to long-term holders.

suggest an optimistic scenario with a rise to $1 by Q3 2025 and an ambitious target of $5.66 by year-end, pending market strength.

Despite of ADA’s recent decline to a low of $0.5165 for a month, sentiment is starting to change as the overall crypto market rallies. ADA recovered losses, generating tentative optimism, while AMCrypto is predicting a near-term target of $0.70, depending on ADA sustaining its momentum and breaking through key resistance levels.

Analyst AMCrypto pointed out ADA’s critical position along its short-term support trendline. A decisive 4-hour close above $0.67 could validate a bullish reversal. Such a move might trigger stronger market sentiment, drawing more volume and pushing ADA toward higher levels in the coming weeks.

Cardano's Weekly Chart Indicates Bearish Momentum

Cardano's chart on the weekly timeframe is still bearish from the peak of $1.323 last November, though support held at the 100-week EMA. This is a key battlefield where the bulls are taking the reins. ADA has also crossed above a long-term uptrend line traced from the lowest of 2023's troughs- another technical victory for the buyers.

The bullish downtrend pattern of a falling wedge is approaching convergence, suggesting a possible breakout. The next target, if confirmed, is set at $1.323, a 117% spike from current price levels. While some analyst hints of a longer-term Elliott Wave rally, a complete 400% spike calls for optimal market circumstances as well as ecosystem development.