Cardano Price Prediction: 2024, 2025, 2030

ADA price prediction: Key highlights

1. Primary support and resistance levels

• The weekly time frame analysis highlighted the lowest support at $0.24.
• ADA’s highest resistance was observed at $0.75.

2. Market sentiment

• As of September 2024, the market is seen to be witnessing a bearish momentum.

3. Predictive forecasts

• Our AI/ML prediction algorithms project ADA's average price to surpass $1 in 2031 and $2 in 2034.

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

ADA technical analysis: Can bulls turn the coin’s prospects?

ADA faced significant challenges over the past year, with major ups and downs. Cardano's price prediction for 2024 began in September as the market downturn drove the coin to its yearly low floor of $0.24.

The Q4 2023 bull run was the push ADA needed to paint the charts green. The coin witnessed a major price pump in December, rising to $0.62. After repeated tests over a month, the altcoin was met with retracement in January. This rejection was the aftermath of an overvalued market.

The setback put substantial pressure on bulls’ efforts to stabilize over $0.50. The price fluctuated around it until early February. Notably, the market witnessed substantial buying pressure throughout February, pushing its price to retest $0.62 and reclaim it as the month ended. 

Concurrently, ADA tested the yearly high resistance level at $0.75. The price was rejected from this level in March. Moreover, the downtick was amplified due to the broader market crash in April, pushing ADA decisively below $0.50. 

Subsequently, like many other cryptocurrencies, the price remained range-bound while holding steady at $0.43. From late May, the market flashed red signals. AMBCrypto reported that large holders possessing between 100 million and 1 billion tokens sold portions of their holdings from June 1. 

When large addresses sell, holders lose confidence in the asset. Consequently, a bearish breakdown materialized by mid-June.

In July, the altcoin dropped to $0.32. Optimism started to build the next week, attributed to the anticipation surrounding the Chang hard fork and the substantial whale activity. These catalysts elevated the price to over $0.43 mid-month.

Nonetheless, the uptick was unsustainable, and by August, the asset retreated to its former base. The price recovered again in the latter half of the month. However, AMBCrypto’s analysis of the shorter time frame indicated that liquidation at higher levels decreased the odds of the asset sustaining this high.
 

Consequently, ADA returned to $0.32 in September. After technical delays prompted a reschedule, the hard fork went live but failed to boost ADA's value. Instead, the Chang hard fork became a sell-the-news event. 

Moreover, whales sold over $326 million of their ADA investments. Nevertheless, interest in the network grew subsequently as the daily active addresses hit a five-month high. At the time of writing, the asset traded at $0.33. 

AMBCrypto noted a bullish falling wedge on the daily chart. ADA has been consolidating within this pattern since December and showed signs of a potential breakout. Should this occur, investors could see a significant rally. Another report corroborated the bullish outlook, highlighting the formation of an ascending triangle. 

Overcoming the recent lower high of $0.43 remains a critical challenge as it continues to be a profit-taking zone. Regardless, Bitcoin’s (BTC) recovery can bolster the buying momentum. 

A bullish flip of the psychological mark of $0.50 could signal a lasting uptrend, putting $0.62 and $0.75 as upcoming targets. If the momentum persists, the $1 and $1.2 levels emerge as the subsequent higher time frame resistance levels to watch.
 

Notwithstanding, the current support range remains crucial for ADA’s prospects. Breaking this level could lead to panic selling, as many attempt to minimize their losses, driving the price to its lowest support.
 

Continued optimism within the Cardano community and the crypto market could be crucial for ADA's potential to reach new highs. However, our models envision a tough road ahead for the asset. They forecast ADA to trade at an average price of over $1 in 2031, expected to rise to $2 in 2034. 

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

• The trading volume closely followed price movements, with notable spikes during price rallies and declines during price drops. The downtick from Q2 2024 indicated a lack of investor confidence. 
• The Moving Average Convergence Divergence (MACD) moved over the signal line in early October. Both lines turned positive by mid-November and December, respectively. After a prolonged ascension, the lines dropped, forming a bearish crossover in April.
• Furthermore, the MACD line dropped below the zero line in late May, and the signal line followed suit in late June. The press time values were the MACD line at -0.0396, the signal line at -0.0335, and the histogram at -0.0061.
• The Chaikin Money Flow (CMF) climbed above the zero line in late October and retained this position until late April. After another brief recovery in late May, the indicator retraced its steps by mid-June. It stood at -0.06 by the end of the analysis, suggesting net selling pressure.