Coin WorldSaturday, Jun 28, 2025 10:45 pm ET

1min read

Investors have been closely monitoring the recent performance of Cardano, with a surge of bullish predictions fueling market interest. The latest recovery in ADA price has further boosted the confidence of market participants. A renowned analyst has recently predicted that Cardano price could reach $2, capturing the attention of traders. This prediction has sparked discussions about the crucial price levels to watch for the cryptocurrency.

Cardano price has surged more than 1.6% today and is currently trading at $0.5640. However, despite this recent recovery, the price of ADA has lost more than 2% in the last seven days. The monthly performance has also been gloomy, with a loss of more than 23% over the last 24 hours. The relative strength index (RSI) of ADA was recorded at 36, indicating room for further gains ahead for the asset.

Analysts have shared mixed insights on the future trajectory of ADA’s value. Renowned market expert Ali Martinez noted that ADA has found its support at $0.47. This suggests that the crypto might witness less volatile trading in the coming days. However, some analysts expect that the crypto might once again slip below the $0.50 level ahead.

Another analyst, CryptoSmith, has projected a bullish run ahead for the asset. He highlighted $0.5831 as the critical resistance for the crypto. Breaching this resistance could trigger a massive rally in the asset’s price. Previously, ADA price recorded a surge of 240% after breaching the resistance. As Cardano is forming a similar structure now, the crypto might witness a robust breakout to $2.6 ahead, according to the analyst.

Another key factor that could drive Cardano price higher in the coming days is the possibility of an ADA ETF approval in the US. Discussions are soaring over a potential approval, given the US SEC’s shifting pro-crypto stance. According to Polymarket data, Cardano ETF approval odds sit at 77%, which has sparked market optimism. This approval, if it happens, could significantly trigger a massive rally in Cardano price ahead. Although the $2.6 prediction seems a bit optimistic, it could happen if the ETF gets approved and institutions bet heavily into the asset.