Cardano (ADA) Price Chart Shows Path to $3.75, But Here’s the Catch

Cardano’s price chart suggests a possible trajectory to $3.75, but it's essential to consider both bullish and bearish scenarios.

Historical Patterns and Future Projections

Crypto Chrys observes similarities between Cardano's market behavior in 2024 and 2019. In both cases, ADA experienced a rise followed by a retracement and a secondary high within a specific timeframe. If this pattern repeats, Cardano could rally towards the end of the year.

However, the analyst cautions that ADA may first revisit its support level at 25 cents. In extreme scenarios, its price could decline to 19 cents.

Macroeconomics and Market Dynamics

Potential interest rate decreases in the United States could impact Cardano's price. Crypto Chrys suggests that such cuts could reduce Bitcoin's market dominance, potentially benefiting altcoins like ADA.

The Cardano/Bitcoin pair analysis indicates a possible bottom around December 2024. Historical patterns suggest that a strong bullish move could follow this low point.

One caveat to Cardano's bullish outlook is its current low trading volume. If this volume remains low, reaching the predicted $3.75 becomes less certain.

Price Predictions and Key Levels

In a bullish scenario, Cardano could achieve a 15x rally from its predicted bottom of 25 cents, potentially reaching $3.75. However, this projection assumes increased trading volume and broader market support.

Key support levels are 28 cents (recently tested), 25 cents (a strong historical support), and 19 cents in highly volatile conditions.