Cardano on June 9, 2025: Will ADA Return to $1?

ADA traded at $0.674 on June 9, 2025. Will institutional growth and upgrades drive a bullish trend?

On June 9, 2025, Cardano (ADA) traded at approximately $0.674, reflecting a 7% increase over the past week. This rise follows a volatile period that saw ADA drop to a low of $0.621 on June 6. Analysts suggest Cardano is consolidating, but several factors could propel it toward the $1 target. Technical analysis indicates ADA has formed an ascending triangle pattern on the daily timeframe, recently testing support at $0.644. The Relative Strength Index (RSI) stands at around 55, signaling mild bullish momentum. A breakout above $0.70 resistance could drive ADA toward $0.84-$1. Otherwise, it may retreat to the $0.65 support level. A key recent development is Cardano’s inclusion in the Nasdaq Crypto U.S. Settlement Price Index (NCIUS) on June 2, 2025, which serves as a benchmark for the Hashdex Nasdaq Crypto Index U.S. ETF. This, alongside Franklin Templeton running Cardano nodes, reflects growing institutional interest. Additionally, network upgrades like Hydra and the Glacier Drop for the Midnight sidechain, expected to launch by late 2025, have bolstered investor confidence. Cardano’s network activity is also significant. Over 2,000 projects are now building on the network, and decentralized exchange (DEX) volume reached $450 million in the past month, indicating broader ecosystem adoption. However, controversy surrounding a $600 million ADA misappropriation claim from 2021 lingers, though Charles Hoskinson has promised a full audit. Macroeconomic factors also impact ADA. U.S.-China trade talks on June 9 could boost global liquidity, supporting risk-on assets like Cardano. However, Federal Reserve interest rate decisions remain a potential risk for the crypto market. In the long term, analysts are optimistic, forecasting ADA could reach $1.5-$2 by 2026, driven by continued ecosystem growth and potential ETF approval by October 2025. Investors should monitor short-term volatility and key support and resistance levels. Overall, Cardano’s strong institutional and technical backing makes it an attractive asset, but it requires careful analysis and risk management.