Cardano climbs 3.8% as bullish momentum builds, ETF hopes rise, and DeFi growth boosts ADA network strength - IcoHolder.

Cardano (ADA) surged nearly 3.8% in the past 24 hours, trading at $0.767 and outperforming many altcoins in a bullish market phase. Analysts remain optimistic about ADA’s potential to reach $1 soon, with forecasts from CoinDCX suggesting a trading range between $0.66 and $1.88 in 2025, while some predict it could climb as high as $2.36. For ADA to sustain its upward momentum, it must break through the key resistance zone of $0.85 to $0.90, with strong support identified around $0.83. Conversely, a drop below $0.76 could signal a bearish turn, potentially pushing prices toward $0.75 or $0.70.

Technically, Cardano’s indicators present a mixed but cautiously positive outlook. The MACD shows mild bearish signals, while the RSI remains balanced at 53. Short- and mid-term moving averages are bullish, with ADA’s price trading above key averages including the 10, 20, 30, 50, and 100-day lines. Only the 200-day moving average points to longer-term resistance, highlighting the challenges ahead for sustained growth.

Investor confidence appears strong, underscored by nearly $1 billion worth of ADA withdrawn from exchanges, signaling accumulation and optimism. Market excitement is also building around the potential launch of ADA-focused ETFs in 2025, which could further boost demand.

Cardano’s decentralized finance (DeFi) ecosystem is gaining traction as well. Total Value Locked (TVL) on the network has increased by over 21% since early April, fueled by recent network upgrades that enhance speed and interoperability with other blockchains. New cross-chain partnerships are also injecting fresh liquidity into Cardano’s ecosystem.

Amid this growth, Cardano’s founder Charles Hoskinson has publicly supported collaboration with Ripple, offering to integrate Ripple’s RLUSD stablecoin into Cardano for free. Ongoing discussions between the two projects aim to strengthen DeFi opportunities across their networks, potentially opening new avenues for growth and innovation.