Cardano (ADA) is currently trading below the key $0.70 mark after a 2% drop, but not everything looks bearish for the project. Despite the price dip, analysts are watching closely for a reversal soon. In fact, recent on-chain and technical indicators could point to a stabilization phase before the next move up.
Cardano Fundamentals: Dev Activity High, ETF Odds Rise to 71%
On the fundamentals side, Cardano continues to shine—having just overtaken Ethereum in yearly core developer activity, according to CryptoMethus.
Institutional interest in ADA also appears to be growing, with data from prediction market Polymarket showing the odds for a spot ADA ETF approval in 2025 have surged to 71%.
Related: ADA Price Battle: Mixed Signals As Cardano Nears Must-Hold $0.685
Lace Wallet Adds Bitcoin Support, Bridging Ecosystems
Cardano has also rolled out a key update for its Lace Wallet, enabling support for Bitcoin transactions. The integration allows users to send, receive, and hold BTC alongside ADA directly from a unified Cardano wallet interface.
Cardano x Bitcoin interoperability is growing 🔥
• Cardano wallets as Tokeo, Begin, Lace now allow users to hold Bitcoin
• Tokeo wallet also implemented Bitcoin Runes swap
• $handle can be used for both Cardano and Bitcoin addresses
• Fluid Tokens team is building on both… pic.twitter.com/8OZFGmOdUP
— Cardanians (CRDN) (@Cardanians_io) April 30, 2025
This move, according to experts, is a big step towards connecting Cardano Bitcoin’s expanding DeFi ecosystem, which could bring huge value and future opportunities for Cardano.
ADA Technical Outlook: Range-Bound, but Signs of Recovery Emerge
On the price front, ADA is trading within a narrow band—facing resistance near $0.71–$0.72 and support around $0.66. The price could move up if it breaks past the $0.71–$0.72 zone, but there’s a lot of resistance ahead, especially around $0.80.
Historically, Cardano’s major bottoms during market downturns take about 90 days to transition into recoveries. Right now, it’s only been about 23 days since ADA’s last sharp drop, so the price might see another month or two of sideways movement before a clear breakout. If the price falls, it could drop to $0.60–$0.56, which would be normal.
Source: TradingView
Related: ADA Founder Predicts The Close of ETH. Is This the Fall of a Crypto Giant?
But overall, Cardano is in a strong position for the future, especially with its new developments like Bitcoin integration. The market might stay unpredictable for now, but if a big crypto rally begins, Cardano could benefit.
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