Cardano (ADA) has decreased by 23% in the last 24 hours, now trading at $0.81. This follows a 50% surge caused by Donald Trump's plans to include ADA in a strategic U.S. crypto reserve.
Cardano's Market Drop
Cardano (ADA) has fallen 23% in the past 24 hours, reaching $0.81. This sharp market movement came after an announcement about ADA's inclusion in a strategic U.S. crypto reserve alongside Bitcoin, Ethereum, Solana, and XRP. Initially, the news caused a 40% price increase on the first day.
Futures Market and Projections
Futures trading activity rose from $15 million to over $26 million, with 92% of positions long, indicating strong bullish sentiment. ADA established a support level at $0.80. If this holds, a 35% rise to $1.14 is possible. Otherwise, a drop to $0.65 could occur. The RSI shows positive territory and the 20-week EMA is rising, confirming strong purchasing pressure.
Investor Interest and Prospects
The price drop did not deter investors from acquiring ADA. On-chain analysis shows $110 million was withdrawn from exchanges in ADA in the last 48 hours. Following Trump's announcement, major investors acquired 420 million ADA tokens. Analysts remain optimistic, suggesting ADA could double its current value, with growing interest in potential Cardano ETFs. The increasing number of active addresses and expanding DeFi features also point to a bright future for ADA.
Despite the current decline, Cardano continues to attract investor interest due to significant backing from large players and potential prospects for further DeFi and ETF development.
