Cardano (ADA) Achieves Initial 2025 Breakout With 22% Price Surge: Details

by

As a seasoned researcher with over two decades of experience in the financial markets, I have witnessed numerous bull and bear runs throughout my career. However, the recent surge of Cardano (ADA) has caught my attention like never before. Having closely monitored this cryptocurrency since its inception, I must admit that I was initially skeptical about its potential. But the impressive 22% rise in just a few days, surpassing the $1 mark for the first time since late 2024, has left me intrigued and excited.

The technical breakout of ADA is particularly noteworthy as it signals strong investor confidence in the project’s future prospects. The fact that it has breached the daily simple moving average (SMA 50) barrier and posted a double-digit percentage gain sets it apart from other major assets. This bullish momentum, coupled with the upcoming Plomin hard fork in Q1, gives reason to believe that ADA could be on track for a strong first quarter in 2025.

Of course, no one can predict the future with absolute certainty, but as they say, fortune favors the bold. I’ll be keeping a close eye on Cardano and its progress, ready to adjust my investment strategy accordingly. And who knows, maybe this time next year, we’ll all be laughing about how we missed the boat on ADA in 2025!

(Joke: “They say fortune favors the bold. Well, I’m not exactly bold, but I’m certainly hoping for a little bit of good fortune with Cardano!”)

To start off the year 2025, Cardano (ADA), the ninth largest cryptocurrency by market value, has witnessed a substantial surge, climbing over 22% and crossing the $1 mark for the first time since December 18, 2024. This impressive price increase signifies Cardano’s initial breakthrough in the new year.

Starting January 1, 2025, ADA’s price was at a minimum of $0.837. From that point onward, Cardano started to ascend gradually, surpassing the daily simple moving average (SMA 50) threshold of $0.983. This barrier, which had kept ADA’s price in check as we approached the end of 2024, was significant because it was broken for the first time.

As a crypto investor, I’ve witnessed the surge gain traction throughout the day, reaching an impressive peak of $1.10 during today’s trading sessions. This technical breakout has ignited a bullish wave among us, suggesting that ADA could maintain its upward trend if it manages to sustain this momentum going forward.

– If ADA ends today’s trading upwards (i.e., in green), it will signify a third straight day of growth at the beginning of this year. The price surge is noteworthy given that the overall crypto market seems to be recuperating, with heavyweights like Bitcoin and Ethereum also recording gains recently. Remarkably, Cardano’s performance is outstanding because it has managed to surpass the significant $1 threshold while registering a double-digit percentage increase.

What’s next for ADA price?

At the time of writing, ADA was up 12.37% in the last 24 hours to $1.07 and up 22% weekly.

If ADA stays above its current price, the task now is to sustain this level and gather more speed. Important resistance levels to keep an eye on are $1.12 and $1.18, while it’s expected that the 50-day Simple Moving Average (SMA) around $0.983 could offer near-term support before significant support is found at $0.82 and $0.76.

As a seasoned crypto investor with over a decade of experience under my belt, I have seen my fair share of market fluctuations and promising projects that didn’t quite live up to their potential. However, when it comes to Cardano, I am genuinely optimistic about its future. The recent surge in its price has caught my attention, and if it can maintain this momentum, we could be looking at a strong first quarter for the cryptocurrency in 2025.

The upcoming Plomin hard fork in Q1 of next year is a significant event that has already sparked excitement among the Cardano community. The successful implementation of the Chang upgrade last year, which introduced on-chain decision-making to the mainnet, demonstrates the team’s commitment to innovation and progress.

I have been following Cardano closely for some time now, and I am confident that it has what it takes to become a major player in the crypto space. Its focus on sustainability, scalability, and interoperability sets it apart from many other projects. With its unique blend of academic rigor and practical implementation, Cardano is well-positioned to make a significant impact in the years to come.

In conclusion, I believe that if Cardano can continue to execute on its roadmap and maintain its current trajectory, we could be looking at a strong first quarter for the cryptocurrency in 2025. The upcoming events such as the Plomin hard fork and potential partnerships with other projects are exciting developments that I am eagerly awaiting. As always, investing in crypto carries risks, but I have faith in Cardano’s potential to deliver impressive returns for its investors.

By the end of last year, I submitted the governance action for the Cardano mainnet’s Plomin hard fork on-chain. I eagerly await its ratification and enactment, which is expected to take place between January 4th and 29th, 2025.

Read More

2025-01-03 17:25