Cardano (ADA) Consolidating Amid Market Uncertainty
Cardano (ADA) is trading near 0.864 USDT after a 6.9% decline over the past 24 hours. Buyers are closely watching the 0.85 USDT support level as a break could lead to further declines towards 0.77 USDT. Cardano recently broke out of a bearish price action pattern, raising concerns of continued downward pressure.
Despite short-term setbacks, Cardano has a strong long-term outlook due to its robust blockchain ecosystem. Developers continue to deploy tools and applications, fueling optimism for a recovery. Market analysts expect Cardano to reclaim the 1 USDT mark in early 2025, driven by platform upgrades and new integrations. If global economic conditions improve and adoption increases, Cardano could see a rally back to 2 USDT by mid-2025.
