Is Cardano (ADA) nearing bounce?Over the past two weeks, most crypto assets, including Cardano's native token ADA, have had recent impressive price rallies punctuated by a steep decline amid hawkishness from the Federal Reserve. ADA, specifically, has dropped over 45% from highs of $1.3264 to lows of $0.7620.But now, one expert has suggested that the steep asset price decline may be at an end.Cardano (ADA) Bounce Incoming?MN Consulting founder Michaël van de Poppe has suggested that an end to the price correction of Cardano's ADA is in sight.The prominent analyst expressed this view in a Monday, December 30 X post with a weekly candle chart suggesting that he expected to see the asset's price bounce from around the $0.7460 price point. ADAUSDT weekly candle chart. Source: Michael van de PoppeADAUSDT weekly candle chart. Source: Michael van de PoppeThis price level served as a multi-year resistance after the asset fell below it in 2022. After breaking above the price level in 2024, van de Poppe now expects it to provide support for the asset's next run to new highs.To run to new highs, however, ADA will need to break above potential resistance around $1.2430, per van de Poppe's analysis. At the time of writing, the asset is trading at $0.8524.van de Poppe, meanwhile, has expressed confidence in ADA's long-term potential. He asserted that the asset's 300% run from lows of $0.3263 in early November 2024 to highs of $1.3264 in early December 2024 was likely only the first impulsive leg of the bull market cycle. He tipped the asset to break its all-time high price record of $3.09 sometime in 2025 or 2026.ADA's continued growth will likely depend on more than macroeconomic factors as the community currently faces an internal conflict between its primary developer, Input Output, and the non-profit tasked with promoting its adoption the Cardano Foundation.
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