Cardano’s value has decreased by over 6%, settling around 0.86 USD. This decline breaches the 0.80 USD support, potentially leading to a further drop to 0.57 USD. Historically, such movements indicate bearish control, challenging ADA’s previous highs.

Anticipated political shifts in the US might boost ADA’s prospects. By January 2025, a pro-crypto presidency could foster a favorable environment for cryptocurrencies. Charles Hoskinson’s involvement as an advisor may also benefit Cardano. This scenario supports Optimism about future growth after the current decline.

Charles Hoskinson’s goal to transform Cardano into a Bitcoin layer-2 chain by May 2025 is significant. This development could increase flexibility and adoption within the blockchain, possibly raising its price. Analysts predict a potential surge to 5.00 USD during the next bullish cycle.