Can Cardano Price Reach $2 Before 2025?

Cardano price has seen a notable rise over the past weeks, mirroring the broader cryptocurrency market’s positive momentum. This surge comes after Bitcoin’s rally, sparking increased investor interest. Analysts are now closely watching ADA’s upward trajectory, with many speculating if it will hit $2 in December.

In this CoinGape article, let’s explore if Cardano price has the momentum to continue its uptrend or if investors book profits and catalyze a correction.

Will Cardano Price Hit $2 in December?

Cardano price has surged, riding the wave of a broader crypto market rally as Bitcoin hits the $100K mark, largely driven by the latest U.S. election results. The increase in Bitcoin’s value has had a ripple effect across top altcoins, with Ethereum maintaining its position above $3,800. 

Solana, BNB, and other altcoins have also shown significant upward movement, fueling investor optimism. With the current momentum, analysts suggest that Cardano could reach $2 by the end of this month as market sentiment continues to strengthen.

Analyst Ali predicts a bullish trend for Cardano price as it forms an ascending triangle on the 4-hour chart. The pattern suggests a potential breakout toward the $1.50 level, offering traders a promising opportunity for approximately 30% gains.

The ascending triangle’s minimum target aligns with the projected price objective of $1.50. 

And if bullish mounts more pressure the ADA might, particularly near $1.15 and $1.05. As Cardano maintains upward momentum, this setup could offer significant returns for those positioned ahead of the breakout.

If Bitcoin sustains above $100K and consolidates, it will allow Cardano and other altcoins to rally. As noted in a previous article, if BTC ranges, chances of alt season are high. In such a case, ADA could easily extend gains and rally 33% from $1.5 and tag the $2 psychological level.

Source: Tweet

Cardano Price Forecast: Is ADA Set to Break $1.30 This Week?

The latest ADA price has surged by 23% in the past 24 hours, reaching approximately $1.23. The cryptocurrency has been steadily gaining momentum, marking a remarkable 272% increase over the last month, as it rose to a high of $1.29.

At present, the altcoin is testing a significant resistance level at $1.30, with strong bullish signals pointing toward a possible breakthrough. This rally is supported by the Moving Average Convergence Divergence (MACD) indicator, which shows a positive crossover on the daily chart. The MACD line (blue) is positioned above the signal line (orange), signaling increased buying pressure. Additionally, the MACD histogram has turned green, further suggesting that the bullish momentum is strengthening.

On the four-hour chart, the MACD shows receding histograms below the zero line, indicating a reduction in the bearish momentum. If this optimistic trend continues, ADA could extend gains as it pushes through the $1.30 resistance level.

Source: TradingView

In conclusion, the Cardano price momentum is promising, with key technical indicators suggesting further growth. If the bullish trend continues, ADA may break $1.30 and even push toward $2 by 2025.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.