- Cardano rebounds from $0.60, eyeing resistance at $0.85-$0.90 amid bullish momentum.
- ETF speculation fuels ADA’s rally, with Grayscale considering a dedicated fund.
- Derivatives market weakens despite ADA’s price surge, signaling mixed investor sentiment.
Cardano (ADA) continues to capture investor interest as its price shows significant movement despite market fluctuations. Dan Gambardello, a well-known cryptocurrency analyst, believes that the market is underestimating Cardano’s potential. He suggests that investors may not be fully prepared for the impact ADA could have in the coming months.
We’re not bullish enough on Cardano.
— Dan Gambardello (@cryptorecruitr) February 14, 2025
We’re not ready for what $ADA is about to do.
pic.twitter.com/3FAj5LsV39
The price of Cardano currently stands at $0.803, reflecting a 14.73% increase over the past week. However, within the last 24 hours, the coin saw a minor decline of 1.39%, with a trading volume of $732.56 million. Its market capitalization is now at $28.85 billion, positioning ADA among the top digital assets in the crypto space.
Price Trends and Market Performance
Cardano experienced a strong uptrend throughout 2024, pushing its price above $1.20. However, early 2025 saw a correction, bringing ADA’s value down significantly. The recent recovery from a local low of $0.60 suggests renewed buying interest, with current price action hinting at either a trend reversal or a relief rally.
The immediate support level for Cardano is at $0.75, which has helped stabilize the price amid corrections. A stronger support zone exists at $0.60, where demand remains high. On the upside, ADA faces immediate resistance between $0.85 and $0.90, a level where selling pressure may increase. The major resistance zone lies between $1.00 and $1.20, marking a crucial psychological barrier.
Technical Indicators Show Mixed Sentiment
The Relative Strength Index (RSI) currently sits at 45.25, indicating weak bullish momentum. If it surpasses 50, stronger upward movement may follow. Meanwhile, the MACD indicator shows a bullish crossover, suggesting positive momentum. If the MACD histogram continues growing positively, ADA could see further price gains.
Decline in Derivatives Market Activity
According to Coinglass data, Despite ADA’s price growth, its derivatives market has seen a decline. The trading volume fell by 8.11% to $1.14 billion, while open interest dropped by 1.77% to $720.61 million.
Additionally, options trading activity has slowed significantly, with volume plunging by 92.94% to $6.59K. Options open interest also recorded a slight decrease of 0.27%, settling at $374.92K.
ETF Speculation Boosts Sentiment
Cardano’s recent rally has been partly fueled by speculation around a potential exchange-traded fund (ETF). Grayscale Investments’ consideration of an ADA ETF has sparked enthusiasm among investors.
Unlike Solana and XRP, which already have multiple ETF products, this would be the first for Cardano. Additionally, Tuttle Capital’s filing for a 2X Leveraged ADA ETF in January has kept bullish sentiment strong.
