Cardano (ADA) is currently riding the wave of the greater crypto market bull rally, with experts predicting a surge to $5 in 2025. Despite a recent reversal in the last 24 hours, the token still holds high hopes for the coming year. However, the Cardano Foundation recently faced a setback when its social media account was hacked by cybercriminals promoting scams and spreading false information. This incident caused the token to slide, but there is optimism that it can bounce back.
As 2024 draws to a close, it has been a remarkable year for the cryptocurrency market, with Bitcoin reaching a six-figure price for the first time in history and sparking a market-wide rally. Cardano (ADA) has been one of the assets benefiting from this surge, aiming to continue its November momentum towards a $5 price in 2025. Analysts believe that the token could reach a new all-time high in the coming year, especially considering its performance leading into December.
Over the last 30 days, Cardano has seen a significant increase of more than 155%, according to CoinMarketCap. Despite a slight 5% drop at the start of the week, the token is currently trading at $1.12, with a support level at $1.32 helping to prevent a bearish shift. There is optimism that ADA could see further growth throughout December, especially as the Cardano blockchain has achieved notable on-chain activity milestones, such as surpassing 100 million transactions and a rise in total value locked to over $705 million.
Analyses based on the Fibonacci indicator suggest that Cardano could target $2.4 in the near future, with a potential to reach $8 at the 2.16 Fib level. While these projections may seem optimistic, experts believe that ADA could settle around $5 in the first half of next year. Overall, the outlook for Cardano remains positive, with the potential for continued growth and a push towards new price milestones in 2025.