Cardano Price Predictions, Will it Drop by 50% Soon?
The price of Cardano (Cardano-ADA) dropped on Monday, fluctuating within a narrow range near the $0.62 level, but it is currently undergoing a very important phase, and its movements in the coming days are likely to significantly affect its momentum in the near term; the ADA price is currently testing the 21-day moving average (DMA-21), which has formed a strong resistance level in recent weeks.
If the price fails again to rise above the resistance level at DMA-21, this may indicate the continued dominance of bears (price speculators) which suggests a drop in price to new levels. The chances of Cardano's price dropping by 50% to its lowest recorded levels in 2024 near the $0.30 level are increasing, and here are the reasons for this potential decline.
Increased uncertainty in the macroeconomy
– Will Cardano's price drop by 50%?
The negative impact of news regarding the trade war between the United States and other countries continued on Monday, April 21, and with the changing impact of this war on the general mood of investors, it is likely that the severe volatility of cryptocurrency prices will continue in the near term, which applies to ADA as well.
