Cardano in June 2025: Will the $0.65 Support Hold?

Cardano faces selling pressure and reduced network activity, but ETFs and network upgrades offer hope.

On June 2, 2025, Cardano (ADA) is trading around $0.68, down 3.2% in the past 24 hours. This price drop occurs amid broader crypto market uncertainty, driven by global trade tensions and tight Federal Reserve policies. However, recent network upgrades and potential ETF approvals provide a positive mid-term outlook for Cardano. Technical analysis shows Cardano holding key support between $0.65 and $0.68. A break below this could push prices to $0.58 or even $0.53. Conversely, resistance at $0.72, if broken, could drive ADA to $0.85. Analysts note an ascending triangle pattern on the weekly chart, suggesting potential for a $1 breakout if confirmed. Cardano’s ecosystem remains one of the strongest blockchain networks. The Chang hardfork, launched in September 2024, improved scalability and efficiency, processing over 300 transactions per second. However, daily active addresses have dropped about 40% from their December 2024 peak to 28,000, indicating reduced transactional demand, which could exacerbate bearish pressure. Cardano ETFs are a key driver. Recent applications from institutions like Grayscale and BlackRock for spot Cardano ETFs have boosted institutional interest. Analysts estimate a 65% chance of SEC approval, which could drive significant capital inflows. The total value locked (TVL) in Cardano’s DeFi protocols has reached $650 million, reflecting growing confidence in the network. Whale activity is notable, with some accumulating ADA, though occasional profit-taking sales contribute to short-term volatility. Rumors of a potential partnership with a major European financial platform could further boost network adoption. However, macroeconomic pressures, such as rising interest rates, could hinder short-term growth. Given these dynamics, Cardano faces short-term challenges due to economic pressures and declining network activity. However, mid-term prospects are bullish, driven by ETFs, network upgrades, and growing adoption. Investors should monitor key support and resistance levels and macroeconomic developments. Ultimately, Cardano’s scientific approach and high scalability make it a leading crypto project. However, competition with networks like Ethereum and Solana and regulatory risks could pose long-term challenges.