The price of Cardano (ADA) has had a notorious last quarter of 2024 reaching a maximum at the beginning of the month. Given this and facing next key factorsanalysts estimate that we could expect a big movement at the beginning of 2025 according to Kosta Gushterov in Cryptodnes.
After passing the mMost of 2024 around $0.60, Cardano saw a strong rally in the last quarter, reaching a high of $1.32 in early December. However, its price has fallen slightly since then and is currently around $0.87. Despite the recent decline, there are signs of renewed optimism, with charts showing a bullish pattern that could lead to another breakout.
Key factors that could drive ADA price higher include upcoming protocol upgrades such as Hydra Head, Marlowe y Midnightas well as the possibility of a partnership with Ripple for a stablecoin project. Input Output Global (IOG) continues to drive innovation, which could lead to major announcements that boost sentiment.
Given your strong ties with price movements BitcoinADA could see significant gains if Bitcoin experiences another rally. While it may take time, some analysts suggest that Cardano could approaching or surpassing its previous high of $3.10 if momentum picks up in early 2025.
The 70-period moving average remains below the latest candles, RSI is rising at 44 points and the MACD lines are crossing below the zero level.
Medium and long-term resistance is at $1.32. Meanwhile, Ei indicators are mixed.
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