- Cardano price trades at $0.820 after a 5% drop
- Technical analysis identifies ascending wedge targeting $4.14 by year-end
- Community members predict even higher prices reaching $10 during 2025
Cardano has declined 4% in the past 24 hours to $0.820, following broader cryptocurrency market weakness as Bitcoin hits new lows. The drop has pushed ADA holders who purchased at the start of 2025 into unprofitable territory with 3.8% year-to-date losses.
Despite recent weakness, technical analyst Mintern maintains bullish projections for Cardano reaching new all-time highs this year. The analysis points to ADA trading within a rising wedge formation that began from June 2023 lows of $0.22, creating potential for upward breakout.
Ascending Channel Structure Creates Multi-Target Framework
The technical setup shows Cardano operating within an ascending channel on the 4-day timeframe, with the December 2024 rally to $1.32 establishing a descending resistance neckline. This trendline caused the August 14 rejection when ADA reached $1.02 before retreating to current levels.
Mintern’s analysis identifies the next support around the channel’s lower boundary near the 0.50 Fibonacci retracement at $0.5424. Maintaining position above $0.51 support becomes critical for preserving upward trajectory potential according to the technical framework.
The ascending wedge pattern creates multiple price targets including $1.47, $1.79, $2.47, and $3.10 before reaching the ultimate $4.14 objective. This final target aligns with the 2.00 Fibonacci extension and the upper trendline of the ascending wedge structure.
$4.14 Target Requires 399% Rally From Current Levels
The projected $4.14 year-end target would require a 399% increase from current $0.830 pricing, representing a new all-time high for Cardano. This ambitious projection assumes successful breakout from the current consolidation phase and sustained buying pressure.
However, the analysis faces challenges given ADA’s recent rejection at resistance and broader market headwinds. The cryptocurrency must first reclaim the ascending channel’s upper boundary and break through the established descending resistance line.
Some community members express even more optimistic expectations, with proponent Rulo predicting $10 pricing this year. This view aligns with projections from analysts including Dan Gambardello and stake pool operator Ssebi, though such targets would require extraordinary market conditions.
The bullish scenario depends heavily on Cardano maintaining support above $0.51 while broader market conditions stabilize. Failure to hold this level could invalidate the ascending wedge pattern and trigger deeper corrections.
Current market dynamics show ADA following Bitcoin’s movements rather than establishing independent strength. This correlation suggests Cardano’s ability to achieve ambitious targets may depend more on overall cryptocurrency market recovery than individual technical patterns.
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