Cardano’s (ADA) downward trend continues despite the correction in the market. In the charts for the past month, the asset has dropped 31.8%, or 0.3%, in the charts of the day, the week, the chart, the charts 14 days, and the charts daily. ADA, despite the decline, has managed to maintain some gains on the yearly charts. It is up by almost 50% since February 20,24.
Please Read This: Cardano Founder Hints at Major Crypto Developments: February Could Get Wild
Why Is Cardano Falling?
ADA has corrected itself after Bitcoin (BTC), which dropped to levels below $93,000 on Monday. BTC’s recent dip is likely due to the new tariffs that President Trump has imposed on Canada and Mexico. Federal Reserve also has not announced a rate reduction. Investors may also have been affected by the Fed’s aggressive stance.
BTC reached $100,000 on Tuesday following the Trump Administration’s 30-day suspension of tariffs. ADA has also recovered slightly following BTC’s rally.
BTC fell to $98,000 below today’s price as investor sentiment continued to deteriorate. ADA is following BTC on its downward trend.
Please Read This: Ripple: XRP On Track To Deliver Major Q1 Gains: Here’s How
Is the Asset Worth $1.64 or More?
CoinCodex predicts that Cardano will rise in the coming months. Platform predicts that the asset will hit $1.64 by April 16. If the current prices are maintained, a $1.64 price level will represent a gain of 118%. ADA was last above $1.60 in November 2021.
Changelly predicts that ADA is also expected to rise in the coming few weeks. According to the platform, ADA is expected to be trading at $1.50 per share on 4th March. To reach $1.50 at current prices will require a price rise of approximately 102.7%.
Please Read This: Shiba Inu: $1500 Worth Of SHIB Becomes $30 Million Today
Cardano’s (ADA) price could also continue to fall. Tariffs returning to the market could cause another correction in the cryptocurrency market. How cryptos perform over the next couple of weeks will affect ADA’s April price.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
