Cardano price action just concluded a second week of recovery in September, reclaiming some of the gains lost in August.
It also flipped another major network, climbing up a spot in the top 10 list. The Cardano price maintained a steady uptrend for the last 7 consecutive days.
That performance underscored a robust bullish momentum, which elevated the price as high as $0.95.
ADA price was up by about 8% on the weekly timeframe. However, this uptrend also retested a long-term descending trend line. A break above this line may mark the start of a major ADA rally.
The bullish expectation for Cardano, if it achieves a resistance breakout, was mainly due to the price appearing to be in a long-term cup and handle pattern.
ADA has been holding on to a significant premium from its lower range in October 2024, and could be on the cusp of the exponential second half of the pattern.
However, that is if the pattern will still play out. Traders may also consider the possibility that the ADA price may not necessarily be in a cup and handle pattern.
Fortunately, the long-term descending trend line might also be the key determinant for whether a heavily bullish outcome will play out.
Is a $25 Cardano Price Prediction a Reasonable Target?
ADA to $25 was one of the top X trends on Saturday. This underscored heavy bullish optimism in the market, especially in light of the cryptocurrency’s latest recovery.
Is the idea that ADA price could potentially soar to $25 rooted in reality?
Based on its current circulating supply, the Cardano-native coin would need a market cap of $894.5 billion for it to push to a $25 price point. This means it would have to surpass Ethereum’s current market cap.
The fact that Bitcoin’s current market cap was already multiple times higher meant that it was also possible for the Cardano network.
ADA’s market cap would have to grow by 26 times its current market cap for it to soar to $25. This seems highly unlikely before the end of 2025.
However, it may be attainable in the long term, especially if the network achieves robust global utility.
As far as a reasonable price prediction was concerned, ADA’s cup and handle pattern may offer insights into where the price may go in the coming months.
It may take months for the Cardano price to complete the second half of the cup and handle pattern, and this means the price may push past $3 sometime in 2026.
Cardano Briefly Surpasses Tron to Secure the 9th spot
Cardano’s latest price surge resulted in significant market cap growth, and allowed it to climb up one spot higher earlier this past week.
The rally fueled enough momentum for it to surpass the Tron network. Cardano was the 9th largest cryptocurrency just a day ago.
It had a market cap of $33.3 billion at the time, which was slightly higher than that of the Tron network.
The gap between the two was quite narrow, and was notably larger between Cardano and Dogecoin, which occupied the 8th spot.
The latter was ahead by roughly $10 billion, meaning it will be a steep climb before Cardano climbs up another position.
At the time of writing, Cardano’s market cap was $32.8 billion and the coin had slipped back to its original position at the 10th spot.
Despite this, ADA may still have an ace up its sleeve. Cardano ETF approvals may pave the way for aggressive liquidity inflows. Such an outcome would allow it to push closer towards the 8th spot.
