Cardano (ADA), now standing as the ninth largest cryptocurrency by market capitalization, has kicked off 2025 with remarkable momentum, experiencing an impressive 22% price surge. For the first time since December 18, 2024, ADA has broken through the crucial $1 mark, marking a significant milestone in its price journey.
Starting the new year with a price point of $0.837 on January 1, 2025, Cardano steadily amplified its value. The cryptocurrency eclipsed the daily simple moving average (SMA 50) barrier of $0.983, a level that had confined its growth at the end of last year. This breakthrough not only highlights Cardano’s resilience but also sparks a wave of optimism among investors.
As trading progressed, ADA soared to a peak of $1.10 during today’s market session. This particular breakout has ignited bullish feelings, suggesting that ADA could maintain its upward trend if it can continue this positive momentum.
Should Cardano conclude today’s trading session in the green, it would signify three consecutive days of flourishing gains to commence the year. This price increase aligns with the overall recovery trend in the cryptocurrency market, where major players such as Bitcoin and Ethereum are also enjoying upward trajectories. Nonetheless, Cardano’s standout performance is attributed to its decisive leap past the $1 threshold and its notable double-digit percentage increase.
So, what lies ahead for ADA’s price? As of now, ADA has surged by 12.37% within the last 24 hours to reach $1.07, showcasing a 22% increase over the week.
With ADA successfully maintaining its position above $1, the upcoming focus will be on sustaining this level and potentially generating additional upward momentum. Key resistance levels to keep an eye on include $1.12 and $1.18, while immediate support is expected to hover around the 50-day SMA at approximately $0.983. This is crucial before considering further support at $0.82 and $0.76.
If Cardano continues its current upward trajectory, a robust first quarter for 2025 seems likely. Anticipation is already building for the Plomin hard fork set to launch in the first quarter of the year. Last year’s implementation of the Chang upgrade successfully introduced on-chain decision-making to Cardano’s mainnet.
In late December, the governance proposal for the Plomin hard fork was submitted on-chain, with its ratification and execution projected to occur between January 4 and 29, 2025. With such promising developments on the horizon, Cardano enthusiasts are certainly excited about what the future holds for ADA.
