Cardano (ADA) Price Prediction 2024-2025: Will ADA Reclaim Its All-Time Highs?

Cardano price is currently surging as it seeks to reclaim 11th place ahead of Justin Sun's Tron Network (TRON), which Sun believes can reach

Cardano price is surging as it aims to reclaim 11th place from Justin Sun’s Tron Network (TRON), which Sun believes can reach $4 billion in revenue with his new strategy.

Cardano price rose 8.1% in the last 24 hours to $0.3719. On-chain analysis shows a rise in active addresses on the network, which usually precedes a price increase. Also, trader sentiment turned bullish as more investors rushed to buy the asset.

Cardano now faces a critical resistance zone, and its next upward move will depend on how it performs at this crucial juncture.

Spike in Active Addresses Reflects Cardano Price Surge

Data from Santiment shows an increase in active addresses since hitting a yearly low on August 18, 2024. This date also coincides with the conclusion of the RareEvo blockchain event, where Cardano unveiled its Hydra Layer 2 scaling solution, asserting its presence as a serious contender among the most scalable networks.

The spike in active addresses could indicate new users testing the network or new investors joining in response to the hype surrounding Hydra and the upcoming Chang hard fork upgrade.

This observation is further supported by IntoTheBlock Large Holder Netflow data, which reveals that Cardano whales have been adding to their holdings since August 18.

Traders are capitalizing on the buzz around Cardano to make a profit. Coinglass Liquidation data shows over $10 million in cumulative Short Liquidity Leverage between $0.319 and $0.367. In comparison, there are only $3.47 million in Longs, which are rapidly decreasing.

This disparity suggests that traders are optimistic about Cardano price surging higher in the coming days and are betting their money on this prediction.

The largest portion of the $10 million liquidity is situated around $0.343, indicating that this serves as the immediate support level for Cardano in case of any shifts in market conditions.

All Ahead Flank for ADA Price After $0.3750

After defying a classic bearish continuation pattern with an upward breakout, indicating the beginning of an uptrend, Cardano price soared to new heights.

This breakout is accompanied by a strong bullish candlestick, signaling a positive continuation of the upward price movement, with the size of the candlestick indicating strong buying pressure.

Resistance is expected at $0.3703, where the price is currently being tested, followed by $0.4340, aligning with the upper Bollinger Band and a previous consolidation zone.

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