Cardano (ADA) Might be on its Way to $0.80, Promising On-Chain Data Emerges

Cardano (ADA) is bullish and on-chain data shared by market analyst Ali Martinez shows the coin may be on the verge of a rally to $0.8.

Cardano’s price is $0.6257, down by 1.17% at press time. However, Martinez believes the current ADA setup is positive for the coin’s growth.

His analysis comes at a time when the coin’s market capitalization has dropped 0.97% to $22,105,678,729. In addition, Cardano’s 24-hour trade volume has slumped 57.64% to $847,338,063.

Despite this gloomy outlook, the analyst argued that with ADA trading above $0.6, the coin’s bulls have the basis to exert more pressure to push the price higher.

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Cardano Profitability Outlook

In his analysis, Martinez points to the lack of resistance surrounding Cardano, based on the Global In/Out of the Money metrics from market intelligence resource IntoTheBlock.

The data suggests that a total of 57.16% of ADA holders are profitable at the moment. In actual count, these profitable addresses number up to 2.54 million overall. This leaves 1.85 million addresses or 41.62% at loss, with 1.22% or 54,370 addresses at breakeven.

Drawing on the current profitability outlook, the associated chart, as shown below, shows there is little or no resistance on the path to hit at least $0.8457 in the near term. 

A major boost for this profitability is the actual Cardano whale count and volume, as measured by ITB. Over the past 24 hours, Cardano’s large transactions hit $23.07 billion, up by 8.37%. At this level, Cardano is next to Bitcoin as the most backed by whales, a trend that might impact ADA sentiment overall.

Cardano Predictions: Go Boom or Go Bust

Though Cardano’s ADA outlook shows promises, clearer price projections suggest more ambitious targets ahead for the coin.

The Crypto Basic reported earlier that Changelly, a crypto exchange and prediction platform foresees ADA hitting $1.16 by December 2025, a conservative level considering the $3.32 projection by October 2028.