Cardano ADA News: Price Outlook Amid US CPI and Market Volatility

Cryptocurrency investors are keeping a close eye on Cardano (ADA) as it navigates a critical price point amid broader market uncertainty. Here’s a summary of the latest developments and price outlook for the top-10 altcoin.

Cardano (ADA) Price Outlook Amid US CPI and Market Uncertainty

Cardano (ADA) is currently trading at $0.75 and facing a critical price test at $0.62. Bearish sentiment persists despite a softer-than-expected US CPI report easing inflation concerns. The top-10 altcoin has struggled to gain traction amid broader market uncertainty and declining crypto momentum. Even if ADA breaks out, it will still face multiple major dips. From the previous cycle, Cardano saw 13 drops between 30% and 59% before reaching its $3.1 ATH. Market makers aim to acquire ADA at lower prices, influencing market design. Bitcoin’s recent correction has intensified pressure on altcoins, including ADA, which now risks losing key support levels, fueling investor concerns.

Cardano Sinks 22% in a Week, But Long-Term Holders Remain Unfazed

Cardano (ADA) has experienced a 22% decline in value over the past week. However, its long-term holders (LTHs) remain confident, as reflected by their continued holding onto assets rather than selling. On-chain data from Santiment shows a rising Mean Coin Age for ADA, indicating that investors are accumulating and holding onto their coins. This suggests strong hands and a potential bullish outlook for ADA, despite recent market headwinds.

Cardano Bulls Hold ADA at $0.70 – Potential Surge Toward $10?

Cardano (ADA) has gone up 1.3% in the past 24 hours and is holding steady above the $0.70 level as bulls attempt to reverse the downtrend that started on March 2. Trading volumes have declined by 26.6% as volatility starts to subside. Market sentiment has slightly improved, with the Fear and Greed Index rising from a record-low of 15 to 19, indicating investors are still in ’Extreme Fear.’ However, buyers have stepped in to take advantage of bargain prices, suggesting the market may have hit a temporary bottom.ADA remains positioned for a potential surge toward $10 if it maintains support above $0.80 and successfully breaks through the $1.20 resistance level.

ADA Price Prediction Bullish Amid Gemini Listing Speculation and Strategic Reserve News

ADA price prediction looks bullish after retracing gains made following the strategic reserve announcement. Cardano [ADA] saw a 17.8% price gain in the past 36 hours, potentially driven by speculation that Gemini might list Cardano on their exchange. While the co-founder of Gemini didn’t think Cardano was suitable for the strategic reserve, he didn’t rule out the listing possibility either. Combined with a retest of the 3-month strong support, ADA could be set for a bullish reversal.