TLDR
- ADA currently trading around $0.66, down from all-time high of $3.10
- Analysts observe price pattern similar to Q3 2024 consolidation before rally
- Whale accumulation reaching 3.27 billion ADA tokens signals potential price movement
- Technical analysis shows key resistance at $0.70-0.78 and support at $0.65-0.66
- Some analysts predict possibility of $2.5 price target in May if pattern holds
Cardano’s price has entered a consolidation phase that many analysts believe mirrors patterns seen in 2024, potentially setting the stage for a rally in the coming months. Currently trading at approximately $0.66, ADA has been testing the patience of investors as it hovers in a narrow range following a dip to $0.49 in early February.
The cryptocurrency’s current behavior has caught the attention of market analysts who see similarities to price action from the third quarter of 2024. According to cryptocurrency analyst Master Kenobi, ADA experienced a steep correction in early August last year, followed by a lengthy consolidation period before eventually rallying.
“ADA is currently in a consolidation phase that resembles its behavior from August-September 2024,” noted Master Kenobi in a post on X. “Since the dip on August 5, it hasn’t recorded a new low – just as it hasn’t now, following the dip on February 3.”
💡 ADA is currently in a consolidation phase that resembles its behavior from August–September 2024.
Since the dip on August 5, it hasn’t recorded a new low—just as it hasn’t now, following the dip on February 3.If this pattern holds, May could bring a massive pump,… pic.twitter.com/bz5VlUEsKQ
— Master Kenobi (@btc_MasterPlan) March 30, 2025
This cyclical pattern has led some experts to predict a potential breakout in May. If the pattern holds true, Master Kenobi suggests that ADA could reach as high as $2.5, representing a substantial increase from current levels.
Whale activity appears to support the bullish outlook. Data from Santiment shows large investors have purchased approximately 240 million ADA tokens in recent weeks, bringing total whale holdings to 3.27 billion ADA. This level of accumulation often precedes major price movements.
Market Analysis
On-chain metrics also show promising signs for Cardano. Transaction volume has remained steady while the number of transactions continues to climb, indicating growing adoption and increased network utility. Historically, rising network activity has been a precursor to positive price action.
Despite these bullish indicators, ADA faces several technical hurdles. The first key resistance level sits around $0.78, marking the upper boundary of the current trading range. A breakout above this level could open the door toward the next major resistance near $0.92-$0.94.
On the support side, analysts highlight the $0.65-$0.66 range as a critical zone that has held firm in recent trading sessions. A drop below $0.64 could accelerate the decline, potentially pushing prices toward the lower $0.50s.
The Relative Strength Index (RSI) currently sits at 37.49, suggesting oversold conditions. Additionally, the MACD shows a negative crossover at -0.0183, indicating continued selling pressure in the short term.
Derivatives data reveals waning speculative interest. Open interest in Cardano futures has dropped 4.54% to $771.41 million. Recent liquidations have totaled $3.19 million in the last 24 hours, with $3 million coming from long positions.
This suggests that bullish traders have been caught off guard by recent declines. Technical analyst Mosesifunanya at CoinMarketCap advises caution, suggesting bearish entries below $0.6539 could target $0.6333, while bullish positions should only be considered after a confirmed break above $0.7030.
The pivot point at $0.6824 represents a critical threshold that could determine the short-term trend. Traders are closely monitoring this level for signs of a potential breakout or breakdown.
Cardano’s all-time high stands at $3.10, making current prices a far cry from previous peaks. However, the ecosystem continues to show signs of development and adoption that could support future price appreciation.
Some investors have their sights set on ambitious targets, with some even eyeing $10 after ADA reportedly outperformed top S&P 500 companies. While such predictions may seem optimistic given current price levels, proponents point to the network’s fundamentals as justification.
The coming weeks will be crucial for Cardano’s price action. If the historical pattern repeats, May could bring increased volatility and potential upside. However, traders should remain cautious as technical indicators have not yet confirmed a strong reversal.
Immediate support remains at $0.6545, with stronger support at $0.5778 if selling pressure intensifies. On the upside, breaking through $0.7030 and then $0.7545 would signal growing strength and potentially confirm the bullish outlook suggested by on-chain metrics.
As of March 31, 2025, ADA is trading at $0.6581, down 3.53% in the last 24 hours. Trading volume has declined over 20% to $517.32 million, reflecting the current consolidation phase as market participants await clearer directional signals.
