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- ADA drops to $0.83 but maintains long-term bullish trend.
- Technical analysis targets $4, with key support at $0.51.
- Community optimism remains strong, with some predicting even $10.
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Cardano (ADA) has slipped alongside a weakening cryptocurrency market, falling 5% over the past 24 hours to $0.830. This decline follows a short-lived rally to $1.02 earlier in August, which temporarily bucked the broader bearish trend. Investors who purchased ADA at the start of 2025 now face a 3.8% year-to-date loss, highlighting the token’s vulnerability to market swings.
Despite the short-term pullback, analysts and enthusiasts remain confident in Cardano’s long-term potential. The recent dip is seen by many as a temporary consolidation within a larger bullish framework.
Bullish Outlook: ADA Could Hit $4
Mintern, Chief Meme Officer of the Cardano-based decentralized exchange Minswap, recently tweeted a bold prediction: Cardano is set to surpass its 2021 peak of $3.10, potentially reaching $4 by the end of 2025. The forecast is backed by technical analysis showing ADA trending within an ascending channel formed from its $0.22 low in June 2023.
According to charts shared by Mintern, the $4 target aligns with the 2.00 Fibonacci extension, while intermediate milestones include $1.47, $1.79, $2.47, and $3.10. For this bullish scenario to hold, ADA must maintain support above $0.51, close to the channel’s lower boundary.
Also Read: Cardano Founder Hints at XRP Collaboration — Lace Wallet to Add Support
Community Optimism Remains Strong
Cardano enthusiasts, including proponent Rulo and permabull Dan Gambardello, anticipate even higher valuations, with some predicting ADA could reach $10 within the year. These projections underscore a resilient community sentiment, with optimism fueled by ongoing development and network upgrades that could catalyze future price gains.
Looking Ahead
While the market’s short-term trends may cause temporary setbacks, Cardano’s long-term trajectory appears promising. Analysts suggest that as long as ADA holds key support levels, the rally toward a new all-time high remains plausible. Investors should monitor critical support zones while keeping an eye on broader market conditions.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
