The Cardano (ADA) price has retraced about 25% in the past three days, leading to over $24 million being liquidated from Cardano's leveraged market. Cardano's Futures Open Interest has also dropped by over 26%. Despite this, crypto analyst Ali Martinez believes that Cardano's price is following a similar pattern to the 2020/2021 bull cycle and remains in a buy zone. Martinez has set a target range of $4 to $6 for ADA's price. The recent rise of ADA is attributed to Cardano founder Charles Hoskinson working with the transition team of President-elect Donald Trump to ensure crypto-friendly regulations. The total value locked on the Cardano network has surpassed $555 million with over 54,000 daily active addresses.



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