The entire cryptocurrency market has once again been painted green. Several factors influenced this change in emotions. Cardano (ADA) also jumped on this trend, encountering a slight recovery in the past days. Despite being included in the US strategic preparation, the asset has declined 5.78% over the past month. Ada started March at a high of $1.129, but quickly fell to a low of $0.66. Will assets be released from this trend and continue to feel current?
Check out Cardano’s recent spikes
Over the past 24 hours, the ADA has recorded a 2.84% increase. The assets went up at $0.746 from a $0.7121 transaction. This is a slight rise, but it brought much needed rest to the market. At the time of writing, the asset priced at $0.7312.
Despite the slower price movements, emotions around assets remained high. According to data from Santiment, certain cryptocurrencies on social media have a lot of positive sentiment. This includes Cardano. The classification of the SEC’s ADA use case as “government services smart contracts” helped the Altcoin community to its highest level in over four months.
Price forecast for March 25th
However, positive sentiment among the investors did not reflect the price of the ADA. According to Concodex data, Altcoin is expected to record a slight drop within the next week. On March 25th, Cardano will dip and trade for $0.691. Throughout next week, the ADA is expected to follow similar trends and record multiple downfalls. This is not a desirable outcome for the Cardano market, but it could potentially change its trajectory as we witness spikes over the next few months.
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