Cardano (ADA) is currently trading at $1.01, standing on a precipice of falling back to trade below the $1 mark. As the cryptocurrency market experiences slight price bumps and dumps, with Bitcoin dancing around the $100K price mark, the market euphoria still thrives but has now tempered down a bit.

Will ADA continue to maintain its dollar prime while fighting alternate market conditions? One analyst thinks ADA has better things in store for its investors in the long haul.

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Cardano to $4? What’s Happening?

Cardano has had one of the most difficult years as compared to its peers from the crypto lot. The token managed to soar past $1 after scaling past difficult barriers, including price pressure and sunken investor sentiment, to rise above and beat the odds finally.

Bitcoin’s support was always there, but the token’s consistent grit managed to leverage BTC’s support to claim the $1 mark finally. Now, the token is once again hovering on a precipice in which a slight negative push could compel ADA to drop its dollar crown. However, amid such developments, Ali Martinez, a notable cryptocurrency analyst, has shared how this dip, which is already brewing, might be temporary and may help ADA for the better in the long haul.

Per Ali, Cardano is repeating its historic 2020 price pattern, which, according to him, is for the best. Ali shared that he will be continuing to buy the ADA dip, even when the token’s price hits as low as $0.76, because the aforementioned development may push its price again, helping ADA to hit $4 or even $6.

“#Cardano is doing the same as it did in 2020, which is why I’m buying! Even if it dips down to $0.76, I’m buying more and plan to book profits between $4 and $6.”

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How Is The Token Bound To Perform: Technical Analysis

As per CoinCodex, Cardano is currently sitting at $1.01 and may note a modest price change around Christmas 2024. The token may trade around the $1.02 price mark and may surge 21% to hit $1.193 by the end of December 2024.

“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 21.14% and reach $ 1.193495 by January 9, 2025. Per our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 78 (extreme greed). Cardano recorded 20/30 (67%) green days with 24.53% price volatility over the last 30 days. Based on the Cardano forecast, it’s now a good time to buy Cardano.”

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