Cardano Price Prediction September 25: ADA Targets $31: But Can the Current Market Momentum Sustain?

Cardano (ADA) has faced a persistent downtrend in recent months, but there are signs that this trend could soon reverse.

In a recent YouTube video, Dan Gambardello, an analyst in the crypto community and host of the Crypto Capital Venture YouTube channel, has projected an 8,500% surge in Cardano’s price.

Based on his analysis of technical indicators, he believes that ADA could reach a staggering price of $31 soon. While Cardano’s current value may seem far from this prediction, the technical data suggests that the asset shows early signs of a potential bullish reversal.

Cardano’s Current Market Performance

As of the press time, Cardano was priced at $0.381865, with a trading volume of $351,043,048 over the last 24 hours. ADA has experienced an increase of 3.01%, reflecting renewed buying interest among traders. 

Source: CoinMarketCap

The current market capitalization for Cardano is $13.34 billion, placing it at the 10th position in the CoinMarketCap rankings. The circulating supply stands at 34.94 billion ADA, while the maximum supply is capped at 45 billion ADA coins.

Despite the recent downward trajectory, the token’s upward movement in the past day indicates potential stabilization around the $0.382 mark. Investors are closely watching this level, as it could signal either consolidation or a breakout to higher levels.

Technical Indicators Point to Bullish Potential

According to Binance’s 1-hour chart of ADA/USD, Cardano has recently shown significant price movement. The asset climbed from approximately $0.33 to a high of $0.39 before retracing slightly to around $0.382. 

The technical indicators support this outlook. The Moving Average Convergence Divergence (MACD) shows the blue MACD line crossing below the orange signal line, hinting at weakening upward momentum. However, the overall bullish sentiment remains intact, as the decline appears to be part of a natural market cooling-off period after a strong rally.

While the MACD hints at a possible slowdown in bullish momentum, the Relative Strength Index (RSI) tells a different story. Currently, the RSI sits at 55.52, indicating that ADA is in neutral territory. 

Source: TradingView

The RSI has moved away from the overbought zone but still tells us there is a balance between buying and selling pressure. According to this reading, Cardano might either unify or revise its standing depending on market circumstances and investors’ sentiments.

A deeper correction may be probable if the RSI indicates a trend toward lower values. In contrast, ADA might continue its improvement if it rebounded from this price level. Traders are watching these indicators closely for more hints about the direction of prices.