Cardano (ADA), the ninth-largest cryptocurrency by market cap, shows an unexpected price decline this February, attracting analysts' interest in its future trajectory.
Unusual February Decline for ADA
Cryptorank data shows ADA has posted a 17.9% loss this month despite 15 days remaining. This bearish trend marks a significant deviation from the coin’s average performance since 2018. ADA’s average monthly return over the past seven years is 29.2%, with the most significant gains in February 2021 at 277.9%. Other positive years were 2019 and 2024 with 12% and 32.2% growth, respectively. The highest decline occurred in 2018 at 39.4%.
Analysts Weigh In on ADA’s Recovery Prospects
Analysts suggest ADA's recovery journey remains challenging due to insufficient venture capital support. In the last 24 hours, trading volume has decreased by 40.56% to $844.09 million, reflecting this sentiment. However, some experts highlight key price levels that ADA must breach to reclaim higher status.
Key Levels for ADA Price Recovery
Experts believe ADA must reach price levels at $1, $1.06, $1.37, and $1.6 for a successful bullish rally. These represent potential areas for growth that could aid in regaining lost ground for ADA.
Despite current challenges, ADA could overcome its issues with community support and by reaching key levels. However, significant effort and a shift in investor sentiment will be crucial for a turnaround.
