Since the beginning of November 2024, Cardano (ADA) has entered a strong uptrend and managed to record a remarkable 300% growth. After reaching $1.33, this cryptocurrency entered a corrective phase and dropped by 40% to $0.77. Overall, the recent price decrease of Cardano is considered a natural part of its upward cycle, potentially creating opportunities for further accumulation. With over 35 billion tokens in circulation, Cardano is now valued at $30.33 billion among leading market cryptocurrencies. Despite some ongoing challenges, analyses indicate that Cardano’s upward trend may soon begin; technical patterns and decreasing trading volume during price corrections also support this prediction. By examining the daily chart of Cardano, we see that the first resistance ahead lies in the range of $0.99 to $1, which also acts as a psychological level for the price. Breaking through this resistance level can confirm a stronger uptrend and indicate the beginning of the next phase of Cardano’s upward trajectory. On the other hand, the $0.69 to $0.77 range is also evaluated as a demand area and an optimal entry point for investors during market correction periods. Looking into the future, long-term forecasts suggest that Cardano may reach new historical highs by 2025. If market conditions remain favorable and the upward movement continues, price targets between $2.5 to $3 also seem probable. Meanwhile, discussions surrounding Cardano Foundation’s governance structure have garnered significant attention. Charles Hoskinson, the founder of Cardano, emphasized the importance of decentralization and community oversight in the Cardano ecosystem and stated that this debate is not solely about the foundation’s leadership but also about how the foundation responds to the community. Cardano continues to develop its ecosystem and strives to strengthen its position with continuous progress in blockchain infrastructure and community-driven initiatives. Hoskinson has repeatedly expressed optimism about the platform’s future and deemed stable financial backing and support for projects like Catalyst as essential for long-term growth. Considering technical analyses indicating the possibility of a return to the uptrend and the impact of governance discussions on ecosystem formation, Cardano may be in a favorable position for growth. In fact, the end of the current correction phase could be the precursor to the next significant growth of this cryptocurrency. On the ‘Digital Currencies Instant Price’ page, you can monitor the live and real-time prices of all tokens and cryptocurrencies.
