Cardano (ADA) Surges to New Heights, Analysts Foresee a Mix of Short-Term Corrections and Long-Term Gains

ADA has seen a massive surge, with the coin rising by 118% in the past month from $0.32 to $0.81.

Cardano (ADA) price has seen a massive surge over the past few months hitting new yearly highs and leaving behind the bearish sentiment that plagued the market in the beginning of the year. Now, as ADA price بالاخره achieves some stability and traders anticipate the next move, what can we expect from the token in the short and long term?

ADA price بالاخره sees some stability after a massive 118% gain

Cardano (ADA) price has seen a remarkable recovery from the lows of 2024, where the token was trading around the $0.32 mark. From there, ADA price surged rapidly hitting new yearly highs at $0.8117. At the time of writing, the token price بالاخره sees some stability and trades at $0.7737 after a 6.97% gain in the past 24-hours.

However, analysts believe that a deeper correction could occur before ADA price makes any further advances. According to Kenshiyesreel, a crypto analyst, ADA price could fall into the $0.45 to $0.50 range, which will be a perfect area for accumulation.

I've shorted $ADA #Cardano at this price with a target of $0.45-$0.50 to accumulate more on spot https://t.co/F4EBVB7x1N pic.twitter.com/WZf1ZlZucM

— Yesreel (@kenshiyesreel) November 15, 2024

As ADA price بالاخره sees some stability and traders anticipate the next move, let’s take a look at some key factors that could influence ADA price in the short and long term.

Bearish pressure vs. Golden Cross: What's next for ADA price?

While ADA price has seen a massive surge over the past few months hitting new yearly highs, some analysts anticipate a deeper correction before the token can continue its upward momentum. However, the Golden Cross pattern, which is formed when the 50-day moving average crosses above the 200-day moving average, still points to a bull market in the near term.

If ADA price manages to trade above the critical support level of $0.74, the token could break the resistance level of $0.79 and might reach $1.2.

Cardano price بالاخره sees some stability after a massive 118% gain in 2024. Now, as traders anticipate the next move, what can we expect from ADA price in the short and long term?

Benzinga Pro subscribers can follow ADA price movements in real time on the Chart Scanner. Try Benzinga Pro for free for 14 days with code Z4ADA. Click here to get started!

Institutions show interest in ADA as 63% of transactions are above $100K

According to data from IntoTheBlock, 63% of ADA transactions are valued at over $100,000, indicating a strong interest from large investors in the token. Furthermore, big investors hold 19% of ADA's supply, highlighting the involvement of institutions in Cardano.

The Cardano Foundation plays a key role in the network's development

The Cardano Foundation is actively involved in the development and promotion of the Cardano network. According to the foundation’s recent report, it has $478 million in assets, of which 82.5% is in ADA and 10.1% in BTC. These funds are utilized in programs designed to boost the uptake of Cardano, increase awareness of the network and its ecosystem, and ensure the business continuity of the protocol.

The foundation has also contributed $2.12 million to enhance the reliability and upgrade the system. Notably, Cardano's network has operated uninterrupted for 2,000 days, attesting to its stability. Recent improvements, including the Valentine Hard Fork, have even improved the compatibility of different blockchains.

Other areas that have also been considered include education, with $4.18 million being granted for research and the introduction of the Cardano Academy. Additionally, adoption-related measures, supported by $12.92 million, aimed at increasing the value of the ecosystem for businesses and institutions, and thus, its sustainability.

Recently, Charles Hoskinson's visits to SpaceX have also sparked rumors of a partnership between the two entities.

ADA price projections for 2025 and beyond

Looking at the long-term prospects for ADA price, several crypto analysts have shared their projections for the token's price by the end of 2025. One analysis suggests that ADA may likely trade at $6.

$ADA Price prediction for this Bull Run and Beyond… pic.twitter.com/NlE79MERJU

— Mr Brownstone (@GunsRoses