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The Cardano cryptocurrency ADA $0.20 Cardano -1.75% Market capitalization $7.36 billion VOL. 24 hours $19.82 million continues to amaze with its resilience despite the correction in the crypto market. Over the past week, the coin has risen by 20% and is trading around $ 0.92, which is almost 175% higher than a year ago, according to CoinGecko data. This growth came as Bitcoin BTC $77,258.78 Bitcoin -1.34% Market capitalization $1.55 trillion VOL. 24 hours $1.08 billion dropped below $ 115,000 and Ethereum ETH $2,402.14 Ethereum -1.96% Market capitalization $293.09 billion VOL. 24 hours $0.8 billion pulled back to $ 4,200 after hitting multi-year highs.
What is fueling the ADA rally?
The key factor was the so-called «golden cross,» a technical indicator that historically precedes large-scale growth. Analyst Lark Davis recalled that the previous signal of this type led to a 236% jump in ADA. This time, optimism is also supported by macroeconomic factors: the market is growing confident that the US Federal Reserve may start cutting rates in September. Goldman Sachs, Wells Fargo, and Citigroup predict a total decline of 75 bps by the end of the year, which traditionally stimulates risky investments, including cryptocurrencies.
Technically, ADA is consolidating in a triangular pattern with $ 0.98 as a key breakout zone. Overcoming this barrier may open the way to a new wave of purchases. At the same time, support at $ 0.89 remains critical to maintaining the uptrend.
Is ADA really up to $ 10?
Analysts are cautious about ambitious forecasts. According to trader Crypto Patel, Cardano should first return above $ 1.10 and then break through the serious resistance level of $ 2.90, which limited the rally during the previous cycle. Successful passage of these levels may open the way to $ 4-$ 5, but reaching $ 10 will require a 10-fold growth and a capitalization of more than $ 300 billion. This is possible only with large-scale adoption, institutional investment, and ecosystem development.
Currently, most experts agree that even an increase in ADA to $ 2.50-$ 3.00 in 2025 will be a significant achievement for investors. Thus, although $ 10 remains a distant goal for now, Cardano demonstrates stability and retains a chance for strong continued growth in the medium term.