Cardano (ADA) is following a pattern similar to its previous cycle, according to a crypto analyst. The analyst predicts a price target of $6 if this historical pattern repeats. ADA's price has declined by 4% in the last 24 hours and is down 19% for the week. If bulls fail to hold ADA above a crucial support level, the price may fall to $0.76, $0.69, or $0.50. On the other hand, a rebound could push the price above $1.

In other news, Cardano's mainnet hard fork is progressing towards full on-chain governance. The governance action for the hard fork has been submitted for ratification, and if approved, it will enable full governance as described in CIP-1694. The estimated dates for the Plomin hard fork are between January 4 and January 29, 2025.



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