The price of Cardano may not be much exercise at the moment, but there is a huge new. Cardano has just completed an important milestone: the Plomin Hard Fork, which means that it is now fully decentralized. This is a major problem because Cardano is now fully controlled by ADA tinkers, who will vote on important decisions such as upgrades and treasury issues. This makes Cardano one of the few top 10 cryptos with real decentralization.
Although the price of Cardano does not see much action at the moment, the basic principles behind the project are stronger than ever. More and more whales buy Ada and settings such as Grayscale show interest in Cardano. As more people see the value of Cardano’s decentralized system, demand can increase, which can lead to higher prices in the future.
Price promotion: consolidation phase
Looking at the price chart, Cardano is currently in a consolidation phase. After an earlier increase of more than 300%, it is normal for Ada to experience this kind of lateral movement. However, there is still a clear momentum on the weekly graph, with higher highlights and higher lows since the spring of 2024.
The current key levels to view are:
$ 1: The 20-day progressive average is at this level. Ada has to break above to further signal upside down.
$ 1.25: The next resistance level is just above $ 1.20, with a considerable price action around this zone. If Cardano can break these levels, a large bull movement can be involved.
A comparison with the previous cycle of Ethereum
Looking at the Ethereum cycle as a reference, it is clear that Cardano is ready for similar profits. Ethereum saw enormous growth from Berenmarkt Lows to Highs from the Stiermarkt, and Cardano is currently following a similar path. If Ada followed the Ethereum process, this could see a massive price increase.