Alongside the greater crypto market bull rally, Cardano (ADA) is looking to continue its ongoing November surge, with experts predicted to surge to $5 in 2025. Although the token has reversed in the last 24 hours, it still has high hopes heading into the coming year.
The company has been coping with a hack of its X (formerly Twitter) account. Sunday, the Cardano Foundation saw its social media account be taken over by hackers to promote scams and spread false information. With the token sliding as a result, there is still hope that the asset can rebound.
Source: news.btc
Also Read: How Did Cardano (ADA) Perform in 2024?
Cardano Reversal Hits Monday: Is It Still Bound for New $5 in the Coming Year?
With just a few weeks until it concludes, 2024 has proven to be cryptoās year. Bitcoin has surged, catapulting to a six-figure price for the first time in its history. Moreover, it has incited a market-wide rally that has propelled a host of different assets across the board.
Among them is Cardano (ADA), which is looking to continue its November surge to a $5 price in 2025. Indeed, there are expectations that the token could reach what would be a new all-time high at some point in the coming year. That looks all the more likely considering how the asset performed entering December.
Source ā Zipmex
Also Read: History Says Cardano (ADA) Could Be Eyeing 66% Surge in December
Over the last 30 days, Cardano is up more than 155%, according to CoinMarketCap. Additionally, that increase is still intact despite a 5% drop to start the week. The token is currently trading at $1.12, with a $1.32 support seemingly protecting it from a bearish shift.
There is still hope that ADA could only increase throughout December. Indeed, the Cardano blockchain set notable on-chain activity marks, including surpassing 100 million transactions. The project also saw total value locked (TVL) rise to over $705 million from $230 million in a single month.
When observing its 2021 bull rally that propelled the asset to an all-time high, analyses are targeting $2.4 based on the Fibonacci indicator. That would align with the 1.618 level. IF that is eventually surpassed, there is room for ADA to target $8 at the 2.16 Fib level. Although that remains optimistic, there is belief that it should settle around $5 in the first half of next year.
