Cardano (ADA) may be experiencing a short-term price dip, but the bigger picture is far from bearish. After rallying nearly 19% last week, ADA has retraced to hover around $0.785, marking a 4% decline in the past 24 hours. Despite this pullback, the sentiment surrounding Cardano remains largely optimistic—bolstered by recent integrations and a teasing statement from founder Charles Hoskinson hinting at long-awaited partnerships finally materializing after the Midnight upgrade.
So the big question now: is ADA still on track to hit the $1 mark?
ADA Holds the Line at Key Support
ADA’s latest correction follows a rally that briefly pushed the token to a weekly high of $0.864. Though prices have cooled off since then, the $0.75 level has emerged as a solid line of defense. This zone isn’t just psychologically important—it also coincides with the neckline of a bullish inverted head-and-shoulders pattern, which analysts believe could serve as a launchpad for a potential run to $1.08, based on the depth of the pattern.
Even with the market showing signs of indecision, technical indicators aren’t flashing red just yet. The Relative Strength Index (RSI) recently pulled back from the overbought zone, suggesting a consolidation rather than a breakdown. Meanwhile, the 50-day and 200-day Exponential Moving Averages (EMAs) are trending upward and nearing a golden crossover—often seen as a strong bullish signal for medium-term momentum.
If ADA can maintain support above $0.75 and rebound from the 23.6% Fibonacci level at $0.762, the next key target lies near $0.92, the 38.2% retracement level. Breaking through this barrier could open the door to $1 and beyond.
However, a failure to hold $0.75 could invalidate the bullish setup, potentially dragging the price down toward the 50-day EMA at around $0.71.
Real-World Utility Gains Steam: Brave Wallet Integration
One of the key drivers of optimism among Cardano supporters is the growing real-world utility of the ADA token. The recent integration of ADA with the Brave Wallet—used by millions globally—was a major win for the ecosystem. It marks a significant step toward increasing ADA’s visibility and usability in everyday crypto transactions, which has historically been one of Cardano’s major hurdles.
This integration signals broader adoption potential and aligns with Cardano’s long-term vision of practical blockchain applications, rather than just speculative trading.
Hoskinson Hints at Long-Delayed Deals: “Summer and Fall Will Be Big”
Adding fuel to the bullish fire, Cardano founder Charles Hoskinson recently took to social media to hint that several long-overdue partnerships are finally ready to be unveiled. He revealed that these deals, initially set for 2022, were delayed due to a third party dropping the ball. However, the recent progress with the Midnight upgrade—a sidechain designed to enhance data protection and smart contract capabilities—has revived those talks.
Hoskinson called the Brave Wallet partnership “just the beginning,” suggesting that more major announcements will follow through the summer and fall. This has only added to the anticipation within the Cardano community, which has remained notably resilient despite price volatility.
The Midnight upgrade is being viewed as a turning point for the network, positioning Cardano to better support enterprise-level applications and regulatory compliance, especially in sensitive industries like finance and healthcare.
Outlook: Short-Term Hurdles, Long-Term Momentum
Cardano’s current price action may be shaky, but its fundamentals are gaining strength. Between real-world integrations, community-driven support, and a pipeline of upcoming partnerships, ADA’s roadmap for 2025 is beginning to take clearer shape.
While the market awaits ADA’s next move around the $0.75 support zone, the possibility of a breakout toward $1 remains very much alive—especially if momentum returns on the back of new deal announcements from Hoskinson and his team.
The coming weeks could be pivotal. One thing is certain: Cardano is far from quiet, and its next chapter might be just beginning.
