A crypto strategist has expressed concerns about the price of Cardano (ADA), warning that it could be negatively affected by upcoming economic data in the United States. The strategist suggests that if key figures such as unemployment or inflation turn out to be worse than expected, ADA’s price could experience a significant decline. However, if economic indicators remain stable, Cardano may follow a previous trend and surpass its recent high of $1.20.
The strategist commented, “ADA might experience short-term weakness, but unless there is a major economic shock, there is a possibility that it could follow a similar pattern observed in previous years and rally beyond its current highs.”
Furthermore, the analyst pointed out that Cardano’s current price movement resembles the fluctuations seen in early 2024. During that time, ADA encountered a sudden increase followed by a decline before recovering.
The strategist mentioned that there is a chance ADA may revisit the price range of $0.75 to $0.85, similar to the pattern observed last year. However, it is important to note that past trends do not guarantee future results.
As the cryptocurrency market prepares for potential macroeconomic changes, investors in Cardano are remaining cautious and attentive to both risks and opportunities in the coming days.