Can Cardano’s $0.60 Support Hold For Bullish Ascension Above $1?

• Cardano is supported around $0.60, with a steady rise indicating a possible bullish change.
• Analysts predict ADA will climb up to $1 by Q3 2025, with a possible year-end target of $5.66.
• There is bearish momentum on ADA’s weekly chart, but support still rests above 100-week EMA.

Cardano (ADA) hovered around $0.6220 on Thursday, demonstrating strength after recovering from a support of $0.60. Despite price action still being range-bound, ADA’s steady rise from recent low levels points toward a change of momentum. The coin remains trapped below a descending trendline and layers of exponential moving average resistance.

Technical charts signal crucial levels to watch as Cardano trades at $0.6175.The level of $0.60 is crucial support, resisting bearish force. A string of higher lows is developing, indicating a rising support line. The pattern, coupled with higher buying volume, indicates a potentially bullish trend assuming support is maintained.

Analysts Predict ADA’s Price Increase to $1 by 2025

Cardano’s 2025 roadmap boosts investor confidence with a focus on scalability through the Ouroboros Leios protocol. Entering the Voltaire era marks a governance milestone, as the platform evolves toward full decentralization. Community-driven decision-making and sustainability are central to this transition, adding long-term credibility to the project’s evolution.

From an investment standpoint, ADA stands out due to its academic foundation, peer-reviewed architecture, and loyal community. Though still 80% below its all-time high, ADA’s undervaluation appeals to long-term holders. Analysts forecast a rise to $1 by Q3 2025 and an ambitious target of $5.66 by year-end, pending market strength.

Despite of ADA’s recent decline to a low of $0.5165 for a month, sentiment is starting to change as the overall crypto market rallies. ADA recovered losses, generating tentative optimism, while AMCrypto is predicting a near-term target of $0.70, depending on ADA sustaining its momentum and breaking through key resistance levels.

Analyst AMCrypto pointed out ADA’s critical position along its short-term support trendline. A decisive 4-hour close above $0.67 could validate a bullish reversal. Such a move might trigger stronger market sentiment, drawing more volume and pushing ADA toward higher levels in the coming weeks.

Cardano’s Weekly Chart Indicates Bearish Momentum

Cardano’s chart on the weekly timeframe is still bearish from the peak of $1.323 last November, though support held at the 100-week EMA. This is a key battlefield where the bulls are taking the reins. ADA has also crossed above a long-term uptrend line traced from the lowest of 2023’s troughs—another technical victory for the buyers. 

The bullish downtrend pattern of a falling wedge is approaching convergence, suggesting a possible breakout. The next target, if confirmed, is set at $1.323, a 117% spike from current price levels. While some analyst hints of a longer-term Elliott Wave rally, a complete 400% spike calls for optimal market circumstances as well as ecosystem development.

Read More: Cardano’s Do-or-Die Moment: Will $0.67 Hold for the Eighth Time?