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At the time of writing, the price of Cardano (ADA) has once again surpassed the $1 mark. This recovery follows a brief correction in the past 24 hours, during which the altcoin dropped below $0.96.
Although ADA has struggled to keep up with other cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP, which reached new all-time highs last week, well-known crypto trader Big Mike remains optimistic about Cardano’s future. According to him, ADA could still reach $7 by the end of this year.
Elliott Wave Theory Predicts a Bullish Scenario for ADA
On the social media platform X, Big Mike shared an ADA/USD price chart, applying Elliott Wave Theory to analyze its movements. He noted that Cardano is currently in the third wave, which often signals a strong price surge.
The trader predicts that ADA could hit $3 between March and April 2025, representing a nearly 200% increase from its current price of $1.01. After this third wave, he expects a correction (the fourth wave), which could bring the price down to around $1.50, marking a 50% retracement.
Cardano Price Target: $7 in Q4 2025?
According to Big Mike, ADA could reach $7 by the end of 2025, setting a new all-time high. This scenario would imply a massive 600% increase from its current price. Such a price movement would be a welcome relief for the Cardano community, which has become increasingly frustrated with ADA’s underwhelming performance.
Trump and Cardano: An Unexpected Boost?
An unexpected factor that could contribute to ADA’s potential price surge is the involvement of Cardano founder Charles Hoskinson in the Trump administration. Hoskinson has taken on an advisory role, which could bring additional attention to ADA. Furthermore, Donald Trump has announced his commitment to supporting U.S.-based crypto projects, including Cardano. This could provide a significant boost to the Cardano ecosystem, making 2025 a bullish year for ADA’s price performance.
Cardano Price Analysis
Cardano (ADA) has been in a downtrend, experiencing sharp declines followed by weak recovery attempts. The price is currently stabilizing around $1.0059, with low volatility, indicating that the market is in a consolidation phase after recent sell-offs.
📊 Technical Analysis
- Current Price: $1.0059
- 24H Change: -0.17% (Minimal movement, sideways trend)
- Resistance Levels:
- $1.02 – $1.05 → Immediate resistance; ADA needs to break this to show strength.
- $1.08 – $1.10 → Key level for a bullish reversal.
- Support Levels:
- $1.00 – $0.98 → Short-term support; holding this is crucial.
- $0.95 – $0.94 → Stronger demand zone; potential retest area if ADA breaks lower.
📈 Prediction & Trading Outlook
- 🚀 Bullish Scenario: If ADA breaks above $1.02, it could move toward $1.05 – $1.08.
- 📉 Bearish Scenario: If ADA loses $1.00 support, a drop toward $0.98 – $0.95 is likely.
📌 Conclusion
Cardano is currently moving sideways, awaiting a breakout direction. A move above $1.02 would indicate a short-term recovery, while a drop below $1.00 could lead to further downside. Traders should monitor volume and price action closely! 🚀📉
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