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The recent drop in Cardano’s price, falling below $1, has sparked discussions in the cryptocurrency market. This decline indicates that traders are pausing fundamentally ahead of critical economic data. However, a leading expert anticipates that if ADA maintains a significant support level, it could reach $4 in the coming days.
Price Prediction from Expert Ali Martinez
In the last 24 hours, significant liquidations occurred in the crypto market, with traders liquidating assets worth $1.76 billion. This situation has led to severe selling pressure across the broader cryptocurrency market, particularly affecting Bitcoin 
$105,786 and major altcoins. Cardano 
$0.697329 has also seen its share of the downturn, experiencing a decline of approximately 10%.
Despite this, leading experts in the cryptocurrency sector remain optimistic about ADA’s future trajectory. Ali Martinez, after analyzing ADA’s price chart and its past performance, suggested that the cryptocurrency could rise to $4 or even $6.
Market Data and Support Levels
At the time of this writing, Cardano’s price was trading at approximately $1.01, reflecting a roughly 10% drop. However, trading volume surged by 122% during the same period, reaching $3.88 billion. Additionally, the cryptocurrency hit a 24-hour high of $1.15, achieving a 75% gain month-over-month.
Martinez pointed out that Cardano has fallen below its critical support level of $1.20, where approximately 93,000 addresses hold 2.54 billion ADA. He also noted that the next demand zone for the cryptocurrency is at $1.
Recently, concerns arose in the market following the hack of the Cardano Foundation’s X account. Hackers introduced a fraudulent token claiming they would halt ADA withdrawals due to actions by the U.S. SEC. However, the team responded quickly to restore market confidence.
A recent analysis indicates that ADA may rally up to $2. The analysis suggests that if Cardano remains above the $0.644 support level, price trends show bullish signs, indicating the cryptocurrency may gain further value in the coming days.
Cardano’s recent price movements and market data reveal its potential for future upward movement, provided it maintains its support levels. Expert opinions and trader behaviors suggest ADA may reach significant levels in the short term.
