The post Cardano News: Will ADA Recover to $0.92 or Drop Further? appeared first on Coinpedia Fintech News
Cardano has dropped nearly 12% this week as the broader crypto market remains volatile. Currently priced at $0.7176, ADA shows signs of a slight recovery after experiencing five consecutive days of losses.
This uptick has sparked speculation about whether it could lead to a stronger rebound, potentially helping ADA return to the $0.92 level it recently lost. However, with the market still unpredictable, it’s uncertain whether the bulls can regain control and push the price higher. It remains to be seen if this recovery leads to a bigger rebound or the downtrend continues.
Technical Indicators Show Mixed Signals
However, the technical indicators are showing mixed signals, meaning it’s unclear whether the price of Cardano will continue to rise or fall. Although there’s a small recovery today, the overall trend remains weak due to the recent sharp decline.
Besides, the negative signals from the DMI indicator and the RSI suggest that the bullish momentum is not strong, so it’s uncertain if the recovery will last or if the price will keep dropping.
Whales Seize The Opportunity
As Cardano’s price dips, crypto whales are seizing the opportunity to load up on ADA. According to analyst Ali Martinez, these whales have scooped up 180 million ADA tokens in just the past week. Now, those holding between 1 million and 10 million ADA have a combined total of 6 billion ADA. With whales aggressively buying the dip, the chances of a strong bullish rebound for Cardano are looking more promising.
Signs Of Recovery
Cardano is showing signs of recovery, with support from crypto whales, which makes a bullish turnaround more likely. If the price breaks above $0.7351, which is the 67.8% Fibonacci level, it could be a good buying opportunity.
The next target would be $0.9216, at the 78.6% Fibonacci level. On the downside, Cardano has strong support at $0.65, with additional support at $0.6272, the 50% Fibonacci level. If the price falls to these levels, they could help prevent further declines.
Bitcoin and other risk assets are experiencing a sharp decline as investor sentiment weakens amid rising concerns over a potential US recession. The stock market has also taken a hit, driven by fears of Trump’s tariff policies and broader economic instability. Analysts are warning of slower economic growth, inflation, and uncertainty about the Federal Reserve’s next move, which could continue to impact the crypto market and ADA’s price.