Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
During the past two weeks, Cardano (ADA) is struggling with price decline as it struggles to climb above the $1 mark. In early December, ADA, which has benefited from the broader crypto bull cycle, reached an all-time high. However, the asset has had difficulty staying above $1 in the market space.
Cardano price history offers optimism
Encryption data signals Positive growth for ADA in January if the asset conforms to historical precedence. ADA has recorded an average growth rate of 20.4% in January over the past seven years.
Related to
Hence, repeating history could see ADA rise by up to 20% in January 2025. With this potential growth rate, the coin may reclaim the $1.20 price range within weeks.
In January 2023, ADA recorded a growth rate of 59.2%. The numbers were higher in 2020 and 2021, when Cardano saw a rise of 64% and 89.9%, respectively. This indicates that ADA experienced favorable market conditions during the month.
Analysis of Cardano’s growth pattern also indicates that it alternates between increasing growth and slight declines. Interestingly, the asset fell slightly by 16.2% in January 2024. This sets it up for a potential rally in 2025.
Do current market signals point to a recovery?
Ada is commerce It fell 2.78% to $0.8721 over the past 24 hours as of this writing. However, the community remains bullish, and investor confidence appears to have not wavered. Despite the price decline, Cardano saw market volume rise by 53.42% to $808.43 million.
Related to
Analysts emphasized that a decline in market participation had accompanied the previous price decline in ADA. However, with trading volume rising, ADA may have reached its peak Bottom price It could continue to record new heights, supported by its historical average growth rate.
At the same time, as Reported by U. TodayRecently, Cardano whales purchased over 20 million ADA within 48 hours. Although no reason was given, market observers believe that these large shareholders may have made the move, anticipating a recovery in prices.
Source link