Here are the Bullish & Bearish Scenarios for the ADA Rally
Cardano is a third generation chain that was built to overcome the shortcomings of the original chain. With such a wide range of use cases, ADA price is believed to be on the heels of Bitcoin or at least Ethereum. Unfortunately, the price could reach as high as $3 and is currently struggling to regain $1 after facing an apparent rejection of the $1.327 high. Market participants remain pessimistic about Cardano price growth and are turning their attention away from the coin.
Meanwhile, the current pullback provides a good entry point, as from a broader perspective, the ADA price rebound is expected to scale higher heights.
recent rise ADA price It also triggered huge social emotions. According to data from social intelligence platform Lunar Crush, Cardano charges more for social activity in the cryptocurrency market. As prices rose by more than 5%, social activities also increased by more than 2.35%. However, the price is hovering near key support around $0.92, as a break above this range could reignite bullish hopes above $1.
What’s next for ADA price increases? Will it mark a new ATH in 2025?
ADA’s historical price action suggests that the coin is repeating previous patterns. ADA price formed a double top pattern before retracing sharply to hit mid-term lows. A similar pattern was observed at the beginning of the year, followed by a similar significant increase as before, suggesting a 7x to 10x increase in 2025, marking a new ATH of around $10.
In addition to the chart pattern, the RSI is showing a similar trend and is about to re-enter overbought territory, showing a bullish divergence. On the other hand, the Gaussian channel has just turned green, signaling the beginning of a bullish trend. Therefore, Cardano (ADA) price is expected to remain sideways for a few weeks before breaking significantly above the uptrend line to complete a massive parabola.
