The cryptocurrency market is currently facing a downturn, with major coins experiencing price drops. Bitcoin (BTC) is trading at $102,584.12, down by 0.27% over the past 24 hours, though it still shows a 2.77% increase over the last week. Ethereum (ETH) has dropped to $3,141.78. Cardano (ADA) has fallen to $0.9424, showing a 1.13% drop in the past 24 hours, but it remains up by 5.47% over the past seven days. XRP is also down slightly, trading at $3.11, down 0.03% over 24 hours.
Cardano Price Analysis
As of now, ADA is holding above the 50% retracement level, which has acted as significant support for around $0.83. On the resistance side, analyst Josh of Crypto World said that Cardano is facing the “golden pocket” Fibonacci area, sitting between $1.13 and $1.23, which has been a major hurdle.
The cryptocurrency is essentially trading sideways between these levels, fluctuating between $0.83 and $1.20, as it struggles to break out in either direction. Despite the sideways price action, the overall trend remains bullish, with ADA continuing to form higher lows and higher highs on the weekly chart.
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For a big move higher, Cardano needs to break through the golden pocket resistance. If this happens, the next target would be around $1.70 to $1.76, aligning with the next Fibonacci resistance zone. However, expect continued resistance in the $1.13 to $1.23 range if the price makes its way back there.
As always, it’s important to keep an eye on Bitcoin’s price action, as it tends to influence the broader crypto market. Any major movements in Bitcoin could have a ripple effect on ADA and other cryptocurrencies.
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FAQs
How high can Cardano go by the end of 2025?
According to our Cardano price prediction, the altcoin’s price could hit a maximum of $2.62 in 2025.
How much would the price of Cardano be in 2040?
As per our latest ADA price analysis, the Cardano could reach a maximum price of $69.33.
How much will the ADA coin price be in 2050?
By 2050, a single Cardano price could go as high as $329.56.