The cryptocurrency market appears to be recovering from the recent slump. Cardano (ADA) is also following market rebounds and trading in the green zone across all time frames. Coingecko data shows that ADA is 3.5% on daily charts, 5.9% on weekly charts, 3/1% on 14-day charts, 5% on previous month and 151.6% since September 2024.
Will Cardano continue to rebound or face a fix?
It is highly likely that the cryptocurrency market will continue its rally in the coming weeks. Interest rate cuts from the Federal Reserve are likely to occur after the next FOMC meeting. Rate cuts could lead to a rally across another market. Cardano (ADA) and other crypto assets could experience another price surge under these circumstances.
Cincodex analysts appear to be leaning towards a continuous market rebound over the coming weeks. The platform expects Cardano (ADA) to trade on November 28th at $1.37. When you reach $1.37 from the current price level, you will be converted to a gathering of around 59.3%. Cardano (ADA) traded beyond the $1 or more mark in mid-August this year.
The chances of a continuous market gathering are very high, but there is also the possibility that Cardano (ADA) will face revisions. Trade wars and tariff tensions could permeate the crypto market and introduce new volatility. Prices can fall if investors feel pressure from macroeconomic development.
Geopolitical tensions can also lead to lower investor sentiment. The French government has experienced a shaking, and Nepal has witnessed a massive protest against social media ban and corruption. These developments could lead investors to be cautious and withdrawing dangerous positions. Cardano (ADA) and other cryptocurrencies could face a fall in price if investors’ sentiment fell. How the market is being followed over the next few days could determine its path for the rest of the year.