Cardano Price Forecast: Top Reasons Behind ADA Surge Above $1.20


Cardano (ADA), one of the longest-standing Layer-1 blockchain platforms, has bounced back with a strong 8% surge, reclaiming the critical $1 level. This positive movement follows a broader recovery in the cryptocurrency market, which had experienced a significant dip earlier in the week. Let’s dive deeper into the ADA price action, key factors influencing Cardano’s future, and what investors can expect from the Cardano price in the coming months.

Cardano's Recovery


Earlier this week, Cardano saw a sharp decline, with its price falling by 15% in just 24 hours. This triggered a major wave of leverage liquidations, wiping out nearly $1.5 billion in bullish derivative bets. However, the ADA coin has made a strong recovery, rising from a low of $0.91 to above $1 in just two days. As of now, Cardano's price is testing resistance levels between $1.20 and $1.25.

ADA Price Prediction: What’s Next for Cardano?

If Cardano can maintain its momentum, it could break through the $1.25 to $1.33 resistance range. This would likely trigger more buying interest and push the ADA price to the next resistance zone at $1.64. However, market fluctuations and potential profit-taking might create challenges for this upward movement.

In the longer term, Cardano’s future looks promising. ADA’s price prediction for 2024 suggests continued growth, as more investors are showing confidence in its long-term potential.

Also Read: ImmutableX Price Prediction 2024 - 2030

Key Factors Behind Cardano’s Recent Price Surge


  1. Growing Interest from Whales and Long-Term Holders

    • On-chain analytics reveal ADA outflows of $186 million from exchanges since December 2024.
    • These outflows indicate rising confidence in ADA’s long-term growth potential among investors.

  2. Strong Fundamentals Driving Cardano’s Appeal

    • Cardano’s Total Value Locked (TVL) has exceeded $555 million, reflecting increased adoption of its dApps ecosystem.
    • Daily active addresses on the network now surpass 54,000, showcasing a consistent rise in user engagement.
    • These metrics highlight Cardano’s growing competitiveness in the crypto market.

  3. Upcoming U.S. Inflation Report’s Potential Impact

    • Investors are monitoring the report closely, as it could affect overall market sentiment.
    • A stall in inflation control could lead to interest rate cuts by the Federal Reserve.
    • Such developments may boost confidence in crypto assets, including Cardano.

Cardano Price Prediction 2024

Cardano (ADA) has shown impressive resilience after a major market sell-off, bouncing back above the $1 threshold. With a solid foundation of increasing adoption, whale interest, and strong fundamentals, Cardano’s future looks bright. The ADA price prediction for 2024 remains optimistic, with potential for further growth in the coming months. As investors continue to monitor market developments, Cardano’s next move will depend on broader market conditions and its ability to maintain strong support levels.

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