A crypto strategist has expressed concerns regarding the potential impact of upcoming U.S. economic data on the price of Cardano (ADA). The analyst warns that if indicators like unemployment or inflation turn out worse than expected, ADA’s price could experience a significant decline. However, if economic indicators remain stable, Cardano could follow a previous trend and surpass its recent peak of $1.20.
The strategist stated, “ADA may exhibit short-term weakness. However, unless a major economic shock occurs, there is a possibility that it could follow a similar trend observed in previous years and rally beyond its current highs.”
Furthermore, the analyst pointed out that Cardano’s current price movement resembles the movements seen in early 2024. During that time, ADA experienced a spike in price, followed by a decline, and then a recovery.
He mentioned, “There is a chance that ADA may revisit the price range of $0.75 to $0.85, mirroring the pattern observed last year.” However, he emphasized that past trends do not guarantee future results.
As the cryptocurrency market prepares for potential macroeconomic shifts, investors in Cardano are remaining vigilant, keeping an eye out for both risks and opportunities in the coming days.