Cardano’s $10 Dream Deferred—But Can ADA Grind Its Way to $1 in Current Market?

Cardano bulls eyeing a $10 price target might need a reality check—market conditions and adoption hurdles make that moonshot look like a 2030 proposition. But with ADA hovering near key support levels, the $1 question isn’t rhetorical.

Technical indicators show ADA consolidating below its 200-day moving average, a classic make-or-break zone. Liquidity pools suggest whales are accumulating, though retail traders remain skittish after last quarter’s 23% drawdown.

The real kicker? Cardano’s staking yields still outpace Treasury bonds—assuming you ignore the 400% volatility. For now, ADA’s path forward looks less like a rocket and more like a proof-of-work marathon.

Will the remaining quarter be any different?

Back in early February, ADA was riding the dip wave like a pro. Its volume exploded past $1.8 billion and the price rocketed to $0.80 in just four days. Fast forward to now? Same price, way less hype. Volume’s barely scratching $640 million too. Clearly, that breakout spark is nowhere to be seen.

The technicals are cooling off too, with a small 11% volume bump. Looks like we’re back in consolidation mode – Steady, but no fireworks just yet.

In fact, this year, ADA’s RSI (Relative Strength Index) has only made into the overbought zone once, and that was all thanks to Trump’s false reserves hope. 

This is just another clue that Cardano’s price surges are being fueled by short-term hype, not long-lasting momentum.

Source: TradingView (ADA/USDT)

So, what about the rest of Q2? Well, expecting any fireworks seems a bit like wishful thinking at this point.

Unless some serious shifts happen in Cardano’s trading behavior, it looks like ADA will stay below $1.

Cardano’s fundamentals under focus

Despite ADA’s technicals losing steam, it’s still worth noting the fundamentals that Charles Hoskinson swears will eventually fuel his bullish dreams.

Here’s the catch though – Cardano’s network fees, which reflect the blockchain’s transactional usage, are down 52% over the past three months. They are now sitting at just $8.1k – Not exactly the kind of bullish signal one would expect.

Source: Artemis Terminal

And, it’s not just the fees. Cardano’s performance across multiple key metrics is also hitting multi-month lows now.

So, with both the charts and the fundamentals cooling off, a reclaim of $1 seems unlikely. As for $10? That dream is still far out of reach.