Bitmern Mining founder Giannis Andreou has expressed a cautious outlook for Cardano (ADA), stating that the cryptocurrency must reclaim several key resistance levels before its technical position strengthens.
Andreou shared his analysis as ADA fell below the $0.25 psychological level. While some altcoins have begun recovering important price points, Cardano remains below its first major resistance hurdle at approximately $0.34. Trading around $0.2434 at press time, the token requires a rally of roughly 40% to reach that initial threshold.
Beyond the $0.34 level, Andreou identified three additional resistance zones at $0.74, $0.95, and $1.20. According to his analysis, overcoming the highest resistance at $1.20 would require a 394% increase from the token's current price. ADA last traded above the $1 mark in August 2025.
Andreou's chart-based evaluation also points to potential downside risks over the next two years if the cryptocurrency fails to overcome the $0.34 barrier. While he acknowledged that Cardano could eventually shift to a bullish trajectory, he emphasized the need for stronger price action and clearer bullish momentum before turning confident.
The analysis has drawn mixed responses from ADA holders, with some pointing to the token's prior recovery from lows of $0.14 and others sharing concerns regarding its relative underperformance compared to other altcoins.
Cardano currently holds a market capitalization of $9.04 billion, ranking as the 14th-largest cryptocurrency. Cardano founder Charles Hoskinson has previously expressed expectations that ADA will return to the top ten by the end of the year. Closing the market-cap gap with Hyperliquid, which currently occupies the tenth spot with a valuation of about $22.34 billion, would require Cardano to expand its market capitalization significantly and trade near $0.60, clearing Andreou's initial resistance level in the process.
