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Cardano (ADA), The ninth-largest cryptocurrency by market cap, it started 2025 with a strong rally, rising more than 22% and surpassing the key level of $1 for the first time since December 18, 2024. This significant price movement marks Cardano's first breakout of the new year. .
ADA's bullish momentum started on January 1, 2025, when the price was at a low of $0.837. From there, Cardano rose steadily, crossing the daily simple moving average (SMA 50) barrier at $0.983. This barrier had previously capped the price of ADA at the end of 2024, making its breakout important.
The rise then gained momentum, peaking at $1.10 in today's trading session. This technical breakout has fueled bullish sentiment, with ADA now poised to continue its upward trajectory if it maintains momentum.
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If ADA closes today's session in the green, it will represent three consecutive days of gains to start the year. The price increase comes as the broader cryptocurrency market shows signs of recovery, with major assets such as Bitcoin and Ethereum also recording gains in recent sessions. However, Cardano's performance stands out due to its decisive breakout of the key $1 level as well as its double-digit percentage gains.
What's next for ADA price?
At the time of writing, ADA is up 12.37% over the past 24 hours to $1.07 and up 22% weekly.
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With ADA holding above $1, the next challenge will be to maintain this level and build further momentum. The next key barrier levels to watch include $1.12 and $1.18, while immediate support is expected at the 50-day simple moving average around $0.983 before major supports at $0.82 and $0.76.
If Cardano can maintain its current rally, it could pave the way for a strong first quarter in 2025. There are already existing expectations for a Plomin hard fork in Q1 2025. Chang's upgrade was successfully implemented last year, leading to the decision to be introduced on Chain - Made for the Cardano mainnet.
In late December, the governance procedure for the Plomin hard fork of the Cardano mainnet was introduced on-chain; It is expected to be ratified and enacted between January 4 and 29, 2025.
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