A crypto strategist has raised concerns about Cardano (ADA), cautioning that its price could take a hit depending on upcoming U.S. economic data.
The analyst suggests that ADA may be vulnerable to a sharp decline if figures like unemployment or inflation come in worse than expected. However, if economic indicators remain steady, Cardano could replicate a previous pattern and surpass its recent peak of $1.20.
“ADA might show short-term weakness,” the strategist remarked. “But unless a significant economic shock occurs, there’s a chance it could follow a similar trend seen in prior years and rally beyond its current highs.”
The analyst also highlighted that Cardano’s current price action resembles movements from early 2024. During that time, ADA experienced a spike followed by a decline before recovering.
“There’s a possibility ADA may revisit the $0.75 to $0.85 range, mirroring last year’s pattern,” he said, while emphasizing that past trends don’t guarantee future results.
As the crypto market braces for potential macroeconomic shifts, Cardano investors remain alert to both risks and opportunities in the days ahead.
Cryptocurrency analytics firm MakroVision has shared its technical assessment of Chainlink (LINK) price action.
The U.S. Department of Justice has sentenced Dwayne Golden, 57, of Pennsylvania to 97 months in prison for orchestrating a fraudulent crypto investment scheme that stole over $40 million from investors.
Snorter Token ($SNORT) is a new meme coin and utility token designed to enhance crypto trading with its Telegram-native trading bot, Snorter Bot. This bot is equipped with sniping capabilities, copy trading, and swap functionalities, offering traders the ability to profit from the volatile crypto markets. As the presale has garnered significant attention, raising over […]
According to a new report from CryptoQuant, recent Binance netflow data reveals a clear divergence in altcoin behavior — offering insights into which tokens may be poised for upside and which could face near-term sell pressure.