Cardano Price May Hit $1, Here’s All You Need To Know About It

Cardano price demonstrated notable performance over the past week, rising by 9.9%, signaling moderate upward momentum.

Despite experiencing fluctuations within a price range between $0.70 and $0.87, ADA has managed to push towards the higher end of that range in recent days.

As of the latest press reports, ADA price traded at $0.825, marking an upward move after briefly dipping slightly earlier today.

However, analysts remain optimistic about ADA’s potential for further price increases, with some even forecasting a move toward the $1 mark.

Analyst Predictions Point to Further Upside for Cardano Price

Dan Gambardello, founder of Crypto Capital Venture, has weighed in on ADA’s upcoming prospects, hinting that the cryptocurrency could reach the coveted $1 mark soon.

In a recent statement, Gambardello remarked, “If I go to bed, maybe Cardano will go to $1.00…”, capturing the attention of market participants.

His casual prediction sparked a flurry of positive comments, with many in the crypto community expressing confidence in ADA’s ability to hit that target.

One commenter noted, “Sleep is temporary, but ADA gains are forever. Though with BitcoinOS adoption ramping up, you might want to set an alarm. The network’s about to get interesting.”

Another supporter called ADA “massively undervalued,” arguing it represents “the best value in all of crypto.”

This growing optimism from the community reflects broader market sentiment that Cardano is on the verge of further price growth.

Although Gambardello did not offer the reasoning behind his prediction, he is a typical Cardano bull. Previously, he identified key technical levels where ADA has faced hurdles.

According to a recent report from The Coin Republic, Cardano is testing its 200-day moving average, a significant level that marks a major hurdle for the cryptocurrency.

ADA briefly surpassed this key technical level before falling back, creating a wick on the daily chart that suggests resistance remains formidable.

Cardano has tested this 200-day moving average multiple times, but previous attempts to break above it have resulted in local price peaks followed by pullbacks.

As analysts continue to monitor this development, it’s clear that ADA will need a sustained breakout above this level to confirm its next move higher.

The ongoing price action suggests that ADA is in the midst of a consolidation phase, awaiting confirmation for a breakout that could propel the price to new highs.

Long-Term Holders Show Confidence

While short-term volatility has impacted active traders, long-term holders have maintained a more consistent outlook.

Data from IntoTheBlock’s balance-by-time-held chart reveals that holders who have kept their ADA for more than a year have seen modest growth of 1.81% in their holdings.

In contrast, those who have held ADA for between one and 12 months have experienced a more substantial 7.65% increase in their positions.

This data indicates that long-term holders remain confident in the future of Cardano, while short-term traders—who have held ADA for less than a month—have experienced losses of 11.75%.

This suggests that volatility has taken a toll on active traders, who may have been caught in the frequent price swings and market corrections.

Growing Optimism for Cardano ETF

Another factor fueling the positive outlook for Cardano price is the increasing optimism surrounding the potential launch of a Cardano ETF.

According to Polymarket, a decentralized prediction market platform, there is an 84% chance that a Cardano ETF will be launched by December 31, 2025.

This represents a significant rise in confidence, as the probability of an ADA ETF launching was much lower in the earlier part of the year, fluctuating between 30%-40%.

Such technical trends indicate a rising possibility of an ETF launch and the overall interest in Cardano among institutions.

Typically, a successful approval of an ETF will be followed by a continued increase in the price of ADA, helping it become a more mainstream cryptocurrency investment vehicle.

Overall, the increasing market confidence as well as the regulatory environment have enhanced the net bullish nature towards Cardano.

Analysts Eye Significant Breakouts

Other analysts have also weighed in on Cardano price’s bullish prospects. Javon Marks, an analyst on X, points to ADA’s previous breakout structures.

He has highlighted a strong upward wave for the crypto, which could potentially extend another 66% to reach the $1.30 area and beyond.

According to Marks, this could be part of a larger move that sees ADA climb as much as 261%, possibly reaching the $2.90 mark in the coming months.

Although this forecast is still hypothetical, the fact is that Cardano continues to gain more widespread use.

Besides, the ETF speculations and the technical price trends have also led to an increased degree of optimism among people in the market.