Cardano (ADA) and Algorand (ALGO), two prominent Layer-1 blockchain projects, have shown notable price movements recently. Both have experienced upward trends, signaling potential bullish breakouts. While Cardano’s ADA gained 8.71% over the past 24 hours, Algorand’s ALGO saw a more modest increase of 5.31%.
Cardano (ADA): Price Analysis and Key Levels
Cardano has shown a strong upward movement, starting at $1.0313 and rallying to $1.12. This surge marked a sharp rebound from the day’s low, supported by a notable increase in trading volume (+15.01%). Despite minor dips during the rally, ADA maintained a bullish trend.
Key support levels for ADA include $1.03 and $1.07, both of which played crucial roles during the upward movement. The current price of $1.12 has encountered resistance, but if ADA sustains above this level, a potential breakout toward the psychological resistance at $1.15 may follow.
Related: ADA Price Trends Upward: Key Levels to Watch in 2025
However, a fallback to lower levels such as $1.07 or $1.03 is also possible if the momentum weakens. According to Changellyblog, ADA’s price in January 2025 is expected to fluctuate between $1.07 and $1.15, aligning with the recent price behavior.
Algorand (ALGO): Price Trends and Resistance Levels
Similarly, Algorand has been experiencing a steady rise, moving from an initial low of $0.4478 to a peak of $0.49. While ALGO retraced from this high, the overall price movement has remained positive, indicating reduced selling pressure.
Support levels for ALGO are found at $0.4478 and $0.46, which helped maintain the upward trend during recent dips. The price encountered resistance at $0.49. If the bullish momentum persists, the next resistance target could be $0.50.
Related: XRP, ADA, and Other Older Cryptos Soar as BTC Climbs; Pushes Market Cap Past $3 Trillion
Despite a slight decrease in trading volume (-5.69%), the price increase suggests steady buying activity. According to Changellyblog, the ALGO price forecast for January 2025 predicts a fluctuation between $0.448 and $0.484.
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