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The cryptocurrency market remains volatile, with Cardano (ADA) and Binance Coin (BNB) facing contrasting trajectories. This analysis delves into the latest price trends ans technical indicators to assess what’s next for these two major altcoins.
Cardano Holds Key Level with Potential to Hit $1.90
Despite the recent correction in the cryptocurrency market, Cardano (ADA) has managed to hold above a crucial support level. Last Monday, the popular altcoin briefly dropped below the $0.90 mark, sparking concern among investors. The price hit a local low of $0.87 but quickly rebounded above $0.90. According to analysts, this indicates strong bullish support, which could pave the way for further price gains.
In the past 24 hours, ADA has already shown an impressive recovery, surging 8.7% to its current price of $0.96. While the psychological barrier of $1.00 remains a strong resistance level, analysts are optimistic that Cardano could break through it in the short term.
Technical Analysis: Cardano’s Price Movement in a Wedge Pattern
Cryptocurrency analyst Carl Moon shared his technical analysis of the ADA/USD price chart on X (formerly Twitter). He emphasized that Cardano has been moving within a large wedge pattern for the past three months. According to Moon, a bullish breakout in the coming weeks or months is inevitable.
Can Cardano Surge Toward $1.90?
Moon predicts that a breakout could initially push Cardano’s price to $1.30, representing a 35% increase. At this level, ADA may face significant resistance before another potential rally. If this resistance is broken, Cardano could even surge to $1.90, marking an impressive 98% increase from its current price.
Fundamental factors, such as the adoption of crypto-friendly policies under a potential re-election of Donald Trump and support for U.S.-based blockchain projects like Cardano, could further strengthen ADA’s price momentum in Q1 2025.
Can Binance Coin (BNB) Recover from a Disappointing Start to 2025?
With the recent successes of XRP and Solana (SOL), it’s easy to overlook that Binance Coin (BNB) remains a major player. With a market capitalization nearing $100 billion, BNB is just behind SOL. After an impressive 2024, where the token surged by a remarkable 134%, BNB had a rough start to 2025, dropping by 12%. The question now is: Can BNB stage a comeback?
Strong Competition and Market Trends
Solana has shown impressive growth in early 2025, rising 35% and reaching a $125 billion market cap. At the same time, XRP continues to dominate, with a staggering 500% surge since November, fueled by speculation about a potential XRP ETF.
BNB is currently consolidating just above its 2021 all-time high, which now acts as a key support level. If this support holds, BNB could experience a significant price surge. Analysts, based on a Cup-and-Handle pattern, predict that BNB could surpass $1,000 in this market cycle. However, several fundamental challenges remain.
Opportunities and Challenges for BNB
BNB’s success is closely tied to the performance of Binance, the largest cryptocurrency exchange in the world. The more users trade altcoins on Binance, the stronger BNB’s outlook becomes. The biggest challenge, however, is regaining market dominance, especially as coins like XRP and SOL continue attracting significant capital inflows.
A BNB recovery largely depends on a renewed influx of capital into the altcoin market. If a new altseason emerges, it could be the perfect opportunity for BNB to reach new highs. Despite growing competition, Binance remains the dominant player in the industry, providing a strong foundation for a potential BNB rebound.
