TLDR
- Cardano (ADA) is currently trading sideways between $0.695 and $0.75 levels
- Breaking above $0.756 could trigger a 12% surge to $0.85, while dropping below $0.69 might lead to $0.65
- Traders remain bullish with $17M in long positions versus $3M in short positions
- White House Crypto Working Group includes ADA among top cryptocurrencies being considered for government stockpile
- Analyst Dan Gambardello predicts ADA could reach $10 in the coming bull cycle, a 1,300% increase from current prices
Cardano (ADA) price has remained relatively unchanged while other major cryptocurrencies experienced upward momentum. The cryptocurrency has been consolidating between the $0.695 and $0.75 levels for an extended period.
At press time, ADA is trading near $0.74, showing modest movement in the past 24 hours. Trading volume has increased by 40% during this period. This jump indicates heightened trader participation compared to previous days.
The sideways trading pattern continues as ADA faces resistance from the 200 Exponential Moving Average (EMA) on the daily timeframe. This technical indicator often serves as a key level that can either support or resist price movement.
Bullish Sentiment Among Traders
Despite the unclear price action, traders appear optimistic about ADA’s future prospects. According to data from on-chain analytics firm Coinglass, traders have built $17 million worth of long positions.
This compares to just $3 million in short positions over the past 24 hours. The disparity between long and short positions suggests traders expect upward movement for the cryptocurrency.
Traders are currently over-leveraged at $0.711 on the lower side and $0.742 on the upper side. These levels represent key points where price action might accelerate in either direction.
Whales and long-term holders continue to accumulate ADA despite ongoing market volatility. This behavior often signals confidence in potential price reversal and long-term value.
Technical Analysis and Price Predictions
Based on recent price action and historical trends, ADA needs to break out of its current consolidation to see major movement. If it breaches the upper boundary and closes a daily candle above $0.756, a price surge of over 12% becomes possible.
This breakout scenario could push ADA to the $0.85 level in the short term. The increased trading volume supports the possibility of such a move if resistance levels are overcome.
Conversely, if ADA falls below the lower boundary and closes a daily candle below $0.69, it could decline to $0.65. This support level would likely be tested in the coming days if bearish pressure increases.
More ambitious price targets come from crypto analyst Dan Gambardello, who suggests ADA could reach $10 in the coming bull cycle. This represents a 1,300% increase from current prices around $0.70.
Do you think Cardano can go to $10?
— Dan Gambardello (@cryptorecruitr) March 23, 2025
Gambardello points to several fundamental factors that make this projection “very realistic” when considering Cardano’s position within the broader cryptocurrency market. His analysis considers both technical capabilities and market recognition.
Cardano has gained official recognition from high places. The Executive Director of the White House Crypto Working Group, Bo Hines, mentioned ADA among cryptocurrencies being considered for the government’s crypto stockpile.
The stockpile also includes Bitcoin, Ethereum, XRP, and Solana. This inclusion sends a powerful signal to the market about ADA’s legitimacy and potential.
When asked about the selection criteria, Hines explained these tokens were chosen “based on market cap, the five largest market caps in this space.” This recognition places Cardano in elite company among digital assets.
Additionally, Cardano founder Charles Hoskinson is preparing to moderate a discussion with Donald Trump Jr. and World Liberty Financial at the DC blockchain summit on March 26. The discussion will focus on digital liberty and expanding global access to digital assets.
Technical Advantages and Future Outlook
Cardano’s foundational technology gives it competitive advantages that could fuel price appreciation in the coming market cycle. The blockchain is often praised for being secure, decentralized, and scalable.
These technological advantages weren’t fully developed during the previous bull market. Even with limited functionality, ADA managed to surge over 2,000% from $0.13 to over $3 in the last cycle.
The timing of Cardano’s potential growth aligns with approaching shifts in monetary policy. The Federal Reserve’s planned reduction in quantitative tightening beginning in April could benefit risk assets like cryptocurrencies.
Even with optimistic long-term projections, short-term volatility remains likely. Key support levels between $0.50 and $0.60 may be tested before any sustained uptrend develops.
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