Cardano (ADA) is hovering around the $0.65 support level, with the analyst warning of a possible 10% drop, but also eyeing a potential rebound to $1.
By Parth Dubey
Editor Julia Sakovich
Updated
2 mins read
Cardano ADA $0.71 24h volatility: 4.2% Market cap: $25.66 B Vol. 24h: $1.05 B is trading near its key support zone around $0.65, posting a 0.5% gain in the past 24 hours. The cryptocurrency has lost about 30% of its value over the past month.
Notably, since December 2024, ADA has been trading within a broadening wedge, a pattern often known for volatile swings. Crypto strategist Jonathan Carter noted that if ADA fails to hold above the current level, it could decline another 10%, to test another key support level at $0.59.
Cardano failed to stay above the previous support at $0.65 and is now heading towards the main support zone at $0.59 on the daily chart🔍
Despite the long correction, the price still has a chance to bounce off this support and rise towards $1.00, otherwise we will fall to… pic.twitter.com/KLIxSaeK1n
— Jonathan Carter (@JohncyCrypto) April 3, 2025
However, Carter also sees a path to recovery: If buyers defend at the next support, he believes ADA could rebound toward the $1 mark. However, a breakdown from this zone would likely drive the price to the pattern’s lower boundary, risking more downside.
On the 4-hour chart, Cardano seems to be in a consolidation phase. The Bollinger Bands are narrowing, with the price floating near the midline at $0.6585. Resistance sits at $0.7002 (upper band), while immediate support lies at $0.6271 (lower band).
A decisive move beyond either would decide the short-term direction.
Source: TradingView
The RSI suggests a subtle bearish divergence is forming, where the price tries to surge but momentum wanes, raising concern among bulls.
Meanwhile, the MACD shows minimal momentum. The histogram is flat near zero, with the signal line above the MACD line, hinting at weak bearish pressure.
Source: TradingView
If ADA climbs above $0.7002, with RSI above 55 and a MACD crossover, traders could see a rally toward $0.72 or higher.
Cardano has recently gained momentum, especially regarding its potential appeal to institutions and even government use cases. Since early 2025, the community has been talking about ADA possibly being among the digital assets the US Treasury may consider stockpiling.
Additionally, popular investor Alex Becker recently stated that Cardano is his top crypto pick, calling it the “most decentralized reasonable chain next to Ethereum”.
JUST IN: Alex Becker says "by far the #1 easiest bet right now is #Cardano. $ADA's easily going to $3.00 to $5.00. It's fast as hell and the most decentralized reasonable chain next to Ethereum. Other decentralized chains don't have the momentum that Cardano has." pic.twitter.com/tm9tMnuixG
— Angry Crypto Show (@angrycryptoshow) April 2, 2025
Becker believes that ADA could easily surge to the $3–$5 range as competitors lack the same traction.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
