Crypto Crash Hits Cardano Hard – Can ADA Hold $1 and Start 2025 Strong?
The latest crypto market crash has hit Cardano ($ADA ) hard, but the worst might already be over, and bulls will be hoping that the cryptocurrency is still headed for a positive start to 2025.
Cardano ($ADA ) cratered as low as $0.76 on Friday, taking its pullback from recent highs to more than 40% at the time.
The Fed triggered a major stock and crypto market sell-off when they issued more-hawkish-than-expected guidance for only two additional rate cuts in 2025 on Wednesday.
Since the Fed’s bearish meeting, ADA futures positions worth nearly $20 million have been liquidated, per coinglass.com.
However, Cardano’s strong recovery from intra-day lows in the $0.76 area to around $0.95, which has seen ADA also reclaim its 50DMA, suggests the worst might be over.
$ADA is currently on course to close out a bullish hammer candlestick for this session.
And with macro set to take a back seat into the year’s end, with no further major US economic data releases or Fed events, focus is likely to return to bullish “adoption” talking points.
And Cardano has a few highly bullish narratives running in its favor right now.
Here is why the price is likely to reclaim $1.0 and start 2025 on the front foot.
Remember, this is not a financial recommendation, cryptocurrency investments are speculative, and past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance.
Thank you for reading.
