Cardano Price Forecast - Charles Hoskinson Predicts ADA Will Be Bigger Than ETH As Bulls Target $2.30 Next

Cardano (ADA) is down today, July 22, as it trades at $0.87 with a 1.29% decline in 24 hours. The decline mirrors the crash across the broader crypto market that has caused more than $550 million to be wiped out through liquidations. However, despite this shaky movement, Cardano price appears to be ready for the next phase of its bull run, considering it has broken out of a falling wedge, as ADA founder Charles Hoskinson forecasts that it will flip Ethereum.

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Cardano Price Looking to Print Another 155% Rally to $2.30

The last three weeks have been extremely bullish for the ADA price as it moved from $0.37 to the current value of $0.87, representing a more than 135% increase. While the market has retraced slightly in the last 24 hours, the recent move from a falling wedge suggests that there is room for Cardano to make its rally independent of the headwinds in the broader crypto market.

If Cardano can turn the resistance of this wedge pattern, which lies at $0.89, into a strong support, it will confirm the beginning of a 155% rally to $2.30 as outlined by the height of this pattern. However, the only way that this rally will be sustainable is if the price can make a decisive close above this resistance.

On the other hand, if the ongoing bearish reversal in the market forces the buyers who had accumulated ADA during the past month’s rally to start selling, the price might fail to close above the wedge’s resistance. This will force Cardano price to go back to trading in a tight range within the falling wedge.

ADA/USDT: 1-day Chart (Source: TradingView)The RSI also shows that there is a need to be cautious because Cardano is already at extreme buying levels. However, buyers might remain active considering that the 50-day EMA is making a golden crossover with the 200-day EMA, and once this signal makes a confirmation, new buyers will likely enter the market and support the ADA price rally to $2.30.

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Cardano Founder Says Cardano Will Be Bigger Than Ethereum

While addressing the recent concerns about an audit process seeking to make Cardano more transparent, Hoskinson noted that ADA will likely overtake Ethereum. He opined,

“Get the right leaders in the room, you give them the right authority, you hold them accountable in the right way; I have a belief that Cardano will be bigger than Ethereum.”

This bullish Cardano price prediction will most likely happen because of two factors: rising open interest and an increase in DeFi activity. In the case of open interest, data from Coinglass shows that this metric has increased to $1.74 billion, its highest level in history.

Cardano’s open interest has increased by nearly $1 billion within three weeks, considering that at the beginning of July, it stood at around $777 million.

Cardano Open Interest (Source: Coinglass)There has also been significant growth in the network’s DeFi activity per DeFiLlama data that shows a 72% increase in TVL this month alone to $400 million at press time. If this increase continues, it could also be bullish for the price and support more gains.

Per a recent CoinGape report, the Cardano Foundation will release an audit report in mid-August that will shed light on recent allegations accusing Hoskinson of misusing 350 million ADA tokens. This audit might also sustain a Cardano price rally in August.

Therefore, a 155% surge in ADA price, as the falling wedge displays, is not unlikely to happen, and the altcoin could easily reach the target of $2.30. If open interest continues rising at the same time that network activity is surging, this target is achievable before the end of Q3 2025.

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Frequently Asked Questions (FAQs)

1. Why is Cardano price dropping today?

Cardano price is dropping today because of a crash across the broader crypto market that has caused more than $550 million in liquidations.

2. Can ADA reach $2 in the near term?

ADA price can reach $2 in the near term if it confirms the breakout from a falling wedge and surged by more than 150%.

3. How will the surging open interest affect ADA price?

The surging open interest will likely have a bullish effect on the ADA price as traders open new positions on the token.

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