Cardano (ADA) is turning heads again as it trades at $0.6310, up 2.62% in the last 24 hours. With bullish indicators flashing and institutional interest rising, analysts are starting to see the potential for a breakout rally. The Cardano price target? A sharp climb toward $1.7. Let’s dive into what’s fueling this optimism and whether Cardano can ride the wave.
Big Buyers Return: Institutional Interest Lights Up ADA
After a long spell of sideways action, Cardano seems to be regaining momentum. A crypto market analyst on TradingView, known as ‘Risk_Adj_Return,’ recently spotlighted multiple bullish signs suggesting ADA could rise significantly in the coming weeks.
Despite its previous downtrend, large spot buys have been noted, hinting that institutions may be quietly loading up. Even though some of these buys were followed by quick sell-offs (possibly from short-term traders), the overall volume indicates that major investors are watching ADA closely.
The analyst also linked the potential rally to the broader macroeconomic backdrop. With the US Federal Reserve’s upcoming FOMC meeting, investors are hoping for a pause in rate hikes or dovish hints — both of which could drive crypto market prices higher. Political buzz, particularly involving pro-crypto remarks from figures like Donald Trump, might also stir positive sentiment for ADA.
Bullish Chart Setup: Can ADA Hit $1.7?
The question arises – Can ADA hit $1.7? Cardano price action is currently hovering around $0.6310, holding above a crucial ascending support trendline on the 4-hour chart. Technical analysts point to an “Ascending Triangle” pattern – often a bullish continuation structure. According to another expert, ‘AMCrypto,’ ADA recently bounced off this trendline, maintaining the pattern’s integrity. This bullish setup is supported by the use of Heikin-Ashi candles and a strategic long trade plan. The analyst outlined a three-step take-profit strategy with targets at:
- $0.73 – near-term resistance
- $0.96 – psychological round level
- $1.21 – former swing high
Chart 1: Cardano live price chart, published on CoinMarketCap, April 19, 2025
A final upside goal of $1.74 is marked as the potential peak of this move. Stop-loss levels are clearly defined to manage downside risk, placed just below local support. Volume is also encouraging – ADA’s 24-hour trading volume stands at $398.93 million, with a volume-to-market cap ratio of 1.79%. That’s a healthy sign of market engagement. ADA’s market cap is now $22.26 billion, making it the 10th largest crypto by valuation.
Outlook: Can ADA Overcome Macro Headwinds?
While Cardano’s technicals are lining up for a breakout, global economic factors could still throw a wrench into the works. Ongoing US-China trade tensions and wider market volatility are keeping some investors cautious. Nevertheless, ADA’s fundamentals – including a capped max supply of 45 billion tokens and a strong development community – remain strong. If macro conditions stabilize, ADA could have the setup needed to deliver a breakout.
Final Thoughts: Is Cardano Price Ready to Rally?
So, is Cardano price rally to $1.7 just hype, or the real deal? With bullish chart patterns, institutional accumulation, and macro tailwinds potentially aligning, ADA might finally be ready to climb out of its slump. While resistance at $0.67 remains a hurdle, a clean breakout could set off the next leg up. As always, crypto investors should tread carefully – but in ADA’s case, the risk-to-reward ratio is starting to look a lot more interesting.
Source: Coinfomania / Digpu NewsTex