In the last three weeks, the Cardano (ADA) has faced a significant price decline, dropping 37% and slipping below the critical $1 mark. Currently, Cardano is trading at $0.8381, down from highs of up to $1.3264.
On December 20, Cardano’s price dropped below $0.8, reaching a low of $0.7673, sparking concern among investors. While there was a slight uptick since that time the market has been notably bearish.
If this support fails to hold, it could lead to further downside momentum, with the next target at $0.76. Despite the decline, some analysts believe the token could quickly recover in 2025, including MN Consulting founder Michaël van de Poppe.
Cardano could rise above $3 in 2025 or 2026
In an X post on December 30, MN Consulting Founder Michaël van de Poppe predicted that Cardano’s token price could hit record highs of $3.09 in 2025 or 2026.
The analyst projected that the token’s price would recover around $0.7460, a critical resistance point for years after the asset’s decline in 2022. With the level breached in 2024, Poppe considers it a support zone for the next price rally. However, ADA must overcome the potential resistance at the $1.2430 mark to see new highs in 2025.
He added:
The scenario remains the same. Pretty heavy run upwards and a 40% correction. I think we’re getting towards the end of this correction, through which I’m expecting a new leg up for things like ADA.
~Michaël van de Poppe
Some analysts are looking to Cardano’s historical performance as a guide for future price movement. In the past seven years, the ADA token’s price recorded a median 20.4% growth rate in January. That would mean if the token were to follow the same trend, the price should rise by a considerable 20% in January 2025.
Moreover, in January 2023, ADA saw a 59.2% growth rate and a 90% growth rate in 2021, emphasizing the token’s success in the month.
Cardano faces price drop amid elevated Fed rates
Most crypto assets, including Cardano, have experienced a decline in token prices, particularly after Federal Reserve Chair Jerome Powell announced that interest rates are likely to remain elevated in the coming months due to persistently high inflation.
Although Fed rates have now dropped to 4.25-4.5%, the current rate may stay at this level for an extended period. At the time of writing, ADA’s token price was at $0.8381, trading down by 5.2% in the last 24 hours. Although its price has declined, Cardano’s 24-hour trading volume has surged by 48.42% to $849.09 million.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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