The cryptocurrency market appears to have been consolidated after a brief revision later last month. Cardano (ADA) appears to follow global trends in the market. According to Coingecko Statistics, ADA prices rose 0.9% in the last 24 hours and 12.7% in the previous month. However, assets fell 4.6% on the weekly chart and 2.8% on the 14-day chart. This price forecast article will allow Cardano (ADA) to regain the $1 mark if the Federal Reserve cuts interest rates in September.
Cardano price forecast: Will it reach $1?
Cardano (ADA) traded over $1 on August 14th. The assets have faced a significant revision since their August highs. Dips can be the cause of the general market bearish. Investors may have started booking profits after Bitcoin (BTC) rose to an all-time high of $124,128 in August. A low ETF inflow could have led to a downturn in the market.
The asset will skyrocket in the coming weeks, according to Colincodex’s Cardano (ADA) price prediction analysis. The platform expects the ADA to trade at $1.07 on September 30th. At $1.07 from the current price level, you will need a gathering of around 30.49%.
It is likely that the Federal Reserve will cut interest rates by 25 basis points in September. Rate reductions significantly increase the likelihood that Cardano (ADA) will violate the $1 mark. If the Federal Reserve decides not to change interest rates, the assets could face another revision.
September has historically been a bearish month for the crypto market. Investors can take the Katyos approach with crypto investments. Rate reductions may offset potential market dips. Cardano (ADA) can integrate around current levels, provided investors’ sentiment remains precautions. Macroeconomic factors could play a major role in cardano (ADA) price movements.