Cardano has been one of the top laggards in the crypto markets rallying just 1.66% in the last 30 days. However, that might end soon. It has made a full recovery of its price after falling to $0.51 last month. If this bullishness continues, which appears to, it may make a recover to $0.86 and even $1.13 by the end of this month.
Cardano has been losing its price and users in the recent past. A recovery above $1 could induce a second recovery rally in ADA.
Table of Contents
Where is Cardano Headed This Month?
Cardano has made a full recovery in the last 30 days from $0.51 to $0.72. The crypto had a price of $0.71 30 days ago. The fall in Cardano was caused mostly due to liquidity crisis but global trade uncertainties played a role too.
This month, we have a major trigger waiting at the extreme end (on 29th and 30th). If the US Fed raises interest rates, Cardano is expected to see a rally above $1, otherwise, it may fall down to $0.51, which was its last month’s low.
Fundamental Analysis
Cardano is one of the most capable smart contracting platform used to create advanced dApps similar to Ethereum but less expensive. Fees on Cardano Blockchain are also on the higher side as compared to Solana but cheaper than Ethereum. A typical transaction at press time had a price of $0.12 with a 20 second expected finality.
The blockchain has a maximum speed of 11 transactions per second. However, given its usage for deploying smart contracts, this speed seems enough.
Technical Analysis
ADA’s price has recovered well in the last 30 days. Further, its charts have formed a Rounding Bottom Pattern between 11 June and 12 July.
As this rounding bottom ends, ADA has moved above a critical resistance at $0.72. If it manages to hold above this price, it could see a further upswing to $0.84 and next $1.13.
On the downside, $0.71 remains a support. If ADA fails to hold this level, it may slide down to last 30 day low of $0.51.
Price Prediction
We expect ADA to cross $0.84 within July on the assumption of a better geo-economic order in the near future. Further, the possibility of a rate cut by US Fed also remains high in its July 20-30 meeting.
If ADA crosses $0.84 before this meeting, it could reach above $1.13 within the first week of July 2025.
