Cardano (ADA) shows a 12.7% decrease on the weekly chart, 11.9% on the 14-day chart, and a 5.3% decrease on the daily chart with depreciation of 20.2%. Since March 2024, the ADA has been able to increase its value by 8.8% despite a significant price drop. This price forecast article examines the possibility that the ADA could recover to $0.90 in mid-April.
Is cryptocurrency suffering due to tariffs?
The cryptocurrency market is on a downward trend. Bitcoin (BTC) has reached the $83,000 price threshold, which previously traded for $88,000. Multiple assets values track the same downward movement as Bitcoin (BTC). The global cryptocurrency market capitalization value fell 3.3% to $2.77 trillion throughout the last day. Over the past 24 hours, the crypto market has lost its value of approximately $487.64 million. The ADA maintains the same market performance trajectory as Bitcoin (BTC).
The latest market dip comes after the US announced on April 2 that it will place mutual tariffs on several countries. President Trump called it “liberation day.” Market participants may be tired of the impact of tariffs on the economy. Cardano (ADA) and other cryptocurrencies have been hit hard.
Macroeconomic headwinds continue to present significant challenges to the crypto market. Uncertainty about global trade has had a major negative impact on the ADA and other cryptocurrencies.
Price forecast: Can Cardano hit $0.90 by mid-April?
According to Concodex, the ADA could reach the $0.75 mark on April 15th. The ADA price will rise 17.19% if it reaches its $0.75 target. The platform does not expect the ADA to break the $0.90 mark by May 16th.
It is also possible that Cardano (ADA) will continue to descent over the next few days. Macroeconomic uncertainty and the world trade war can get in the way of potential gatherings of assets.
(TagStoTRASSLATE) Cardano
