Cardano has been having a tough few weeks. Cardano (ADA) is down by 4.8% on the daily charts. It’s also down 24.2% weekly, 27.7% 14-day charts and 26.4% compared to the last month. The asset has seen a price increase of nearly 50% in the past year, despite the recent dip.
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Cardano’s Troubles Continue
ADA’s latest correction is a result of a general market decline. Last weekend the cryptocurrency market took a big hit. This dip was caused by the US’s heavy tariffs against Canada and Mexico. Taxes are a way to fight trade deficits, and border violations.
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On Tuesday, the crypto market showed a small recovery after US officials announced a 30-day pause in tariffs. Cardano continues to be in the negative zone despite a small recovery.
Does the asset ever breach $1?
CoinCodex says that Cardano’s (ADA) price will rise in the next couple of weeks. According to the platform, Cardano (ADA) will hit $1.11 in 2025. To reach $1.11, the current prices will have to rise by 56%.
CoinCodex believes that ADA will not hold its price above $1. The platform expects ADA to drop until March before picking up in May.
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Cardano’s (ADA’s) performance may also be affected by macroeconomic issues. Federal Reserve has not yet announced a rate reduction. Crypto market could also be affected by trade wars. If US inflation drops, and the Fed lowers interest rates, ADA could rally.
The performance of the asset over the next couple months remains to be determined.
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Source: watcher.guru
