Can Cardano price reach $2 before 2025?

Cardano price has risen significantly in recent weeks, reflecting the positive momentum of the broader cryptocurrency market. This increase comes after the Bitcoin rally and is triggering increased investor interest. Analysts are now closely monitoring ADA’s uptrend, with many speculating whether the price will reach $2 in December.

In this CoinGape article, let us examine whether Cardano price has the momentum to continue its upward trend or whether investors book profits and trigger a correction.

Will Cardano price hit $2 in December?

Cardano price has risen sharply, riding the wave of a broader crypto market recovery Bitcoin hits $100,000primarily driven by the recent US election results. The rise in Bitcoin value impacted all top altcoins, with Ethereum maintaining its position above $3,800.

Solana, BNB and other altcoins also showed a significant upward movement, fueling investor optimism. Given the current momentum, analysts believe Cardano could reach $2 by the end of this month as market sentiment continues to improve.

Analyst Ali predicts an uptrend for Cardano price as it forms an ascending triangle on the 4-hour chart. The pattern suggests a possible breakout towards the $1.50 level and offers traders a promising chance of around 30% profit.

The minimum target of the ascending triangle corresponds to the forecast price target of $1.50.

And if the uptrend applies more pressure, ADA could do so, especially near $1.15 and $1.05. As Cardano maintains its bullish momentum, this setup could offer significant returns to those positioned ahead of the breakout.

If Bitcoin stays above $100,000 and consolidates, it will allow Cardano and other altcoins to recover. As mentioned in a previous article, when BTC fluctuates, the likelihood of an alt season is high. In such a case, ADA could easily extend its gains and rise 33% from $1.5 to reach the psychological level of $2.

Cardano Price Prediction: Will ADA Break $1.30 This Week?

The latest ADA price is up 23% in the last 24 hours to reach around $1.23. The cryptocurrency has been steadily gaining momentum, posting a remarkable 272% increase to a high of $1.29 in the last month.

Currently, the altcoin is testing a significant resistance level at $1.30, with strong bullish signals indicating a possible breakout. This rally is supported by the Moving Average Convergence Divergence (MACD) indicator, which shows a positive crossover on the daily chart. The MACD line (blue) is above the signal line (orange) and signals increased buying pressure. Furthermore, the MACD histogram has turned green, which is another indication that the bullish momentum is strengthening.

On the four-hour chart, MACD is showing falling histograms below the zero line, indicating a reduction in bearish momentum. If this bullish trend continues, ADA could extend its gains as it breaks the $1.30 resistance level.

In summary, Cardano’s price dynamics are promising and key technical indicators point to further growth. If the uptrend continues, ADA could break $1.30 by 2025 and even head towards $2.

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Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.