Cardano ADA News: Bearish Sentiment Shifts as Analysts Predict Potential Price Drop and Rally
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Cardano (ADA) Price Prediction for March 31
Amid the bearish market sentiment, Cardano’s (ADA) price prediction has become a key topic. This follows a breakdown from consolidation between the $0.69 and $0.75 levels, shifting sentiment toward ADA tokens. According to expert technical analysis, ADA has turned bearish and could see a 5% price drop in the coming days.
Cardano Dips but Analysts Foresee Potential Rally
Cardano (ADA) is currently trading at $0.6581, down 3.53% in the last 24 hours, with a trading volume of $517.32 million, a decline of over 20%. Despite this recent dip, analysts have observed that whales have accumulated 240 million ADA, pushing total holdings to 3.27 billion tokens. One analyst, Master Kenobi, sees similarities between ADA’s current market behavior and its price action in 2024, predicting a potential breakout in May that could drive the price toward $2.5.
ADA Eyes Rally to $1.5 and Beyond
ADA could experience a significant pump in the coming weeks, with analysts projecting gains of over 130%. Pseudonymous analyst RJT.WAGMI, with 124K followers, pointed out that Cardano appears to be forming a classic “ABCDE” triangle pattern, a type of consolidation structure often seen before major breakouts. According to the analyst, ADA is currently in the middle of the C wave, a downward leg, but once it completes the D and E waves, a strong breakout to the upside could follow. RJT added that a bounce from the 0.5–0.618 Fibonacci retracement zone could serve as the launchpad for a move toward $1.5.
Cardano Price Prediction: Potential $2.5 Surge?
Cardano price prediction suggests a possible repeat of a 2024 rally pattern. Analysts observe that after a decline in early February, Cardano’s price action is mirroring the consolidation phase seen in Q3 2024, which was followed by a significant surge. Investors are closely monitoring key levels to assess the sustainability of recent gains and potential further upside for ADA.
