One of the most prominent cryptocurrencies this year has also proven to be one of the most volatile. Indeed, with Cardano still up a remarkable 77% in 2024 despite a harsh drop in the last week, traders are anticipating what could be a rather interesting start to 2025 for ADA on the horizon.
With concerns that Cardano could fall below the $1 mark, there is growing worry that the drop could extend into the new year. However, there is no denying that ADA had been one of the better-performing tokens of the ongoing bull rally. But will it return to its winning ways, or continue a downward spiral when the calendar turns in mere weeks?
Also Read: Cardano Risks Crashing Below $1 as Bears Take Control
Cardano Is a Big Gainer in 2024, But Recent Skid Has Traders Worried for ADA
The last month has been massive for the cryptocurrency sector. With the United States elected its first pro-crypto president in the form of Donald Trump, the market is expecting big things for the coming year. The optimism alone has propelled Bitcoin beyond a six-figure price for the first time in its history.
BTC certainly isn’t alone, as a host of other assets have surpassed or are nearing all-time values. However, one has seen monumental increases met with a recent notable correction. Indeed, Cardano is still up 77% in 2024 but has seen a recent price drop leave traders concerned about what they can expect in January.
Also Read: Charles Hoskinson Unveils Game-Changing Plans for Cardano in 2025
The crypto has dropped more than 5% in the last 24 hours alone, according to CoinMarketCap. Moreover, it is down 3.9% in the last seven days as it trades at $1.04. Although it is up more than 35% in the last 30 days, there are still worries it could fall noticeably before the end of the year.
Although the token is currently underperforming, many analysts expect it to increase in the coming year along with the largest crypto market. Digital asset prediction platform CoinCodex, notes that Cardano should reach a maximum price of $2.14 in January. That would represent a 105% increase from its current position.
Things are only going to get better from there. Just four months into the new year, Cardano is projected to reach a maximum price of $4.22, which may be the highest mark it reaches in 2025. Although massive gains are not projected, it is still looking at 300% upside throughout the year.
