The Cardano (ADA) price has been going sideways in recent days around $0.70 per token, but has been holding above a key support level that suggests further near-term gains are likely.
ADA has been finding support as of late as it falls back towards its 50DMA around $0.6750, which it broke through during last week’s broad crypto market rally.
Per CoinMarketCap, Cardano’s market cap was last around $24.7 billion.
This sends an important signal about the market’s near-term outlook – the break back above the 50DMA suggests that the bearish trend of late March/April has been snapped.
Risks are thus now tilted towards a continued Cardano price recovery. A return to recent highs in the $1.20-30 area are even possible.
That said, its very unlikely that a new altcoin season is about to arrive and send ADA back to its 2021 record highs above $3.0.
That’s because macro uncertainties remain elevated. Yes, US President Trump has seemingly turned down the heat slightly in his trade wars.
But uncertainty about trade policy remains elevated. And cracks are already appearing in the US economy, as survey data released on Monday illustrated.
With risks rising that the US economy tilts into recession rising, and global economic uncertainty high amid the trade war, and the world’s most important central bank the Fed worried about “sticky inflation” (and thus reluctant to save the day via monetary policy easing), this isn’t exactly the environment for altcoin season to launch the Cardano price moonwards.
That means that, while ADA could see further upside in the coming weeks, a breakout of recent multi-month ranges isn’t likely.
Cardano’s Long-Term Bull Case: A Strategic Accumulation Opportunity
Despite a neutral medium-term outlook, Cardano presents a compelling long-term investment opportunity.
While trailing rivals such as Ethereum and Solana in terms of adoption, Cardano’s robust fundamentals and strategic roadmap position it for significant growth, potentially reaching $10 by the end of Trump’s term in 2029.
Investors should thus view the current range-bound price action as a chance to accumulate.
Cardano’s blockchain excels in scalability, sustainability, and security, leveraging its Ouroboros proof-of-stake protocol. Its focus on rigorous academic research ensures a resilient foundation, distinguishing it from competitors.
A key bullish narrative is Cardano’s ambition to become the premier Bitcoin DeFi chain, enabling seamless integration of Bitcoin’s liquidity into decentralized finance applications.
Initiatives like the Midnight protocol, enhancing privacy, and partnerships in emerging markets further bolster its ecosystem.
Macro uncertainties may cap near-term gains, but Cardano’s methodical development and growing use cases—spanning DeFi, supply chain, and identity solutions—signal substantial upside.
That’s especially the case against the backdrop of a historically favorable global regulatory backdrop for the crypto industry, spearheaded by the ardently pro-crypto Trump administration’s efforts to bolster the industry.
However, with a market cap still modest compared to rivals, Cardano offers asymmetric return potential.
Strategic investors can capitalize on current consolidation to build positions in a blockchain poised for exponential growth over the next four years.
The post Cardano Price Analysis: 100% ADA Recovery On the Cards? appeared first on Cryptonews.
