- Cardano’s $0.74–$0.98 zone can be seen as a prime entry point before the next bullish surge
- Charles Hoskinson has emphasized on governance transparency and $600M ADA treasury challenges for ecosystem growth
Michaël van de Poppe, founder of MN Consulting, is positive about Cardano’s (ADA) potential recovery and future growth on the price charts. Following a 40% correction after a 300% rally from its November lows, the analyst now believes ADA is approaching the end of its correction phase.
In fact, he is anticipating that the cryptocurrency is preparing for a new upward move, one supported by its technical patterns and market position.
Market performance
At the time of writing, Cardano was trading at $0.8577 with a 24-hour trading volume of $965 million. Over the past week, the price has declined by 4.34% – A sign of broader market volatility.
With a circulating supply of 36 billion tokens, ADA seemed to have a market capitalization of $30.74 billion, positioning it among the market’s leading cryptocurrencies.
Despite its recent bout of depreciation though, Cardano remains in a broader bullish cycle. Its breakout from an old consolidation range indicated a shift to a higher trading range between $0.9850 and $1.2430.
Source: X
According to the analyst, surpassing the upper resistance of this range would confirm bullish momentum and signal the next stage of its upward trajectory.
Key entry points and long-term projections
Van de Poppe identified the $0.74–$0.98 zone as a critical support and an optimal entry point for investors during market corrections. He viewed the latest pullback as a healthy part of ADA’s larger bullish cycle, potentially creating opportunities for accumulation.
Looking ahead, long-term projections seemed to suggest that ADA could achieve new all-time highs (ATH) by 2025. He also pointed to potential price targets between $2.50 and $3.00 if market conditions remain favorable and the bullish momentum continues.
Governance discussions and ecosystem updates
Charles Hoskinson, the founder of Cardano, recently addressed ongoing debates about the governance structure of the Cardano Foundation (CF).
These discussions also gained traction following remarks from Rick McCracken, a prominent community member, who raised concerns about leadership transparency and accountability.
That’s what people have been doing. Again, this isn’t a Charles versus CF debate for the 1000th time. It’s a conversation about whether a community foundation should be subject to community oversight. IOG and Emurgo are not the same as the CF. If they were, then we would have…
— Charles Hoskinson (@IOHK_Charles) December 30, 2024
At the time, Hoskinson stressed on the importance of decentralization and community oversight within the Cardano ecosystem. He stated,
“This isn’t a Charles versus CF debate… This is a discussion on whether the community foundation should be answerable to the community.”
He also highlighted that the CF’s $600 million ADA treasury lacks direct community representation in its management, which could affect ecosystem funding and growth.
Outlook for Cardano
Beyond governance issues, Cardano continues to expand its ecosystem, with ongoing advancements in blockchain infrastructure and community-led initiatives. Hoskinson has often expressed optimism about the platform’s future. According to the exec though, sustainable funding and support for projects like Catalyst remain essential for long-term growth.
With technical indicators signaling a potential rebound and governance discussions shaping the ecosystem, Cardano may be positioned for growth.
As Van de Poppe suggested, the end of this correction phase could mark the beginning of ADA’s next major surge.
