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 July 2024, the market is seen to be witnessing a bearish momentum.

3. Predictive forecasts

• Our AI/ML prediction algorithms project that ADA's average price will surpass $10 in 2028 and exceed $100 in 2031.

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: Is a July rally on the cards?

ADA faced significant challenges over the past year, with major ups and downs. Cardano's price prediction for 2024 began in July as the bulls rallied to test $0.33 mid-month. A subsequent rejection drove the coin to its yearly low floor at $0.24 in mid-August.
 

The Q4 2023 bull run was the push ADA needed to flip the former in November. Continuing the uptrend, December witnessed a major price pump, with ADA 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.
 

This 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 established a new resistance level at $0.75. The price was yet again rejected from this level in March. Moreover, the downtick was amplified due to the bearish crash in April, pushing ADA decisively below $0.50. 

Subsequently, like many other cryptocurrencies, the price remained range-bound while holding steady at the $0.42 support. 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 token. Consequently, a bearish breakdown materialized by mid-month.
 

In July, the altcoin returned to $0.33. 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 $0.42. At the time of writing, the asset traded at $0.43.

An earlier report by AMBCrypto highlighted that the number of addresses holding tokens valued at over $10 million increased in the last month, reflecting accumulation. Furthermore, historical patterns suggest that the upcoming hard fork can trigger a bull rally. 
 

The likelihood of ADA extending to the psychological mark of $0.50 is relatively high. A bullish flip of this level 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 levels to watch.

Notwithstanding, the current support could be at high risk if the downtrend resumes, overshadowing the recent recovery. If the selling pressure increases, ADA might move closer to $0.33. A break below this level can even result in it returning to the lowest support.

Continued optimism within the Cardano community and the broader market could be crucial for ADA's potential to reach new highs. Our models project that ADA could trade at an average price of over $10 in 2028, expected to rise over $100 in 2031.  

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 crossed zero 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 -0.0262, the signal line at -0.0140, and the histogram at -0.0123.
• The Chaikin Money Flow (CMF) turned negative by late July. It 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 -0.11 by the end of the analysis, suggesting net selling pressure.