Cardano Price Prediction: 2024, 2025, 2030

ADA price prediction: Key highlights

1. Primary support and resistance levels

• The analysis of the weekly time frame highlighted the lowest support level to be $0.24.
• ADA can likely encounter significant resistance at a high point of $1.2.

2. Market sentiment

• In May 2024, the market is seen to be witnessing a bearish momentum.

3. Predictive forecasts

• Our AI/ML prediction algorithms forecast ADA’s average price to exceed $15 in 2028 and $130 in 2031.

Given below is an extensive weekly technical analysis of ADA, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

ADA technical analysis: Threat of increased losses lingers

Throughout 2023, ADA faced significant challenges amidst a grim market landscape. Cardano's price prediction for 2024 began with a downtrend, which led to it dropping below $0.35 in June. Simultaneously, the asset found footing on the lowest support level of $0.24.
 

The bulls tried to elevate the price in mid-June. These efforts culminated in mid-July as ADA tested the support-turned-resistance at $0.35. Nonetheless, the rally lacked the momentum to sustain.
 

By mid-August, the altcoin had returned to its lowest support level. A stronger rally in mid-October propelled the price above $0.35 in mid-November. This was followed by a major price pump in December, which led the price to test resistance at $0.62. After a month-long test, this rally was rejected in January. This was indicative of a price correction following an overvalued market.

Following this, the price struggled to stabilize over $0.50, fluctuating around it until early February. Throughout February, ADA experienced consistent buying pressure, pushing its price to retest $0.62 and reclaim it as the month ended. 

Concurrently, ADA established a new resistance level at $0.75. The price was yet again rejected from this level. Moreover, the downtick was amplified due to the bearish crash in April, pushing ADA decisively below $0.50. At the time of writing, the asset traded at $0.43. 
 

According to a recent AMBCrypto article, the number of ADA whales, who held between 100 million and 1 billion ADA coins, surged by 29% in the last 30 days. Despite this, the price action remained unaffected.

AMBCrypto's analysis suggested that the token may continue to face losses, primarily due to low demand. Although development activity remained high, other key metrics, such as daily active addresses and Social Volume, have been declining since mid-March. 
 

Additionally, the Weighted Sentiment was observed to be negative for much of the past six weeks. While a Bitcoin (BTC) breakout could potentially stop or reverse the downtrend, the current evidence did not support a bullish outlook for the token.
 

Given that, the key support at $0.42 appeared to be on the bears’ radar, with the price inching closer to it. If the selling pressure increases, ADA might find itself moving closer to $0.35. While a break below this level can even see it go back to the lowest support.
 

In a probable bullish scenario, ADA might experience significant liquidations around the $0.62 and $0.75 price levels. To reach the critical $1 mark, overcoming these levels would be necessary. If the upward momentum persists, the $1 and $1.2 levels emerge as the subsequent high-time-frame (HTF) resistances to watch.
 

Continued optimism within the Cardano community and the broader market could be key to ADA's potential to make new highs. Projections from our models suggest that ADA could be traded at an average price of over $15 in 2028. The number is expected to increase further to $130 in 2031.

ADA's 2024 roadmap: Key indicators to watch and trade

• The trading volume mirrored price actions, with significant increases observed during rallies. Similarly, drops in volume followed the dips in the price, signaling the recent lack of conviction among investors. 
• The Relative Strength Index (RSI) remained below the 50 mark until the end of October. From then on, it began rising, entering the overbought region in December with a peak at 82.17.
• After a brief drop in the new year, the indicator re-entered this territory by the end of February, only to move below again in March and continue descending. It fell back below 50 in April. As the analysis concluded, the RSI registered at 42.10. This indicated a reversal to bearish conditions. 
• The Bollinger Bands experienced a slight expansion as the price candles dipped slightly below the lower band in June. Towards the end of October, the bands began to expand again, with the price moving above the upper band. 
• This expansion intensified towards the end of November, as the price consistently breached the upper band throughout December before eventually declining. Between February and early March, this pattern repeated, signaling moderate overvaluation.
• The price fell below the 20-week Moving Average (MA) in mid-May and recovered above it towards the end of October. Due to the recent price dip, the price found itself again below this MA and remained there by the end of the analysis period. It was reflective of increased selling sentiment in the market.