Crypto: Can Cardano Overcome Its 11% Decline?

Undoubtedly, the tensions between Iran and Israel have shaken more than one sector, and the crypto market is no exception. Cardano (ADA), in turmoil, saw its price plummet sharply. Investors are wondering: after an 11% drop in 48 hours, will ADA manage to rebound or continue to sink? Here are the prospects for the altcoin.

A Ray of Hope for Cardano Crypto Investors

Cardano is said to be a champion in commercial activity due to recent increases. However, the price of ADA crypto experienced an impressive 11% drop within 48 hours, once again failing to break the $0.40 mark. A fall that leaves the altcoin at $0.35, jeopardizing the profitability of about 3.31 billion ADA tokens, an estimated value of over one billion dollars.

However, not everything is bleak for investors. If Cardano manages to defend its support level at $0.34, a return to the $0.37 area is conceivable, and profitability could once again be at the rendezvous.

• 3.31 billion tokens at risk;
• A value of $1.1 billion at stake;
• A crucial support at $0.34.

The key to a rebound? The mindset of investors. As they often say: “Emotions drive as much as algorithms. “

If Cardano wins back hearts, the engine could gain momentum again.

ADA Price: A Race to $0.70 in October?

Price predictions for ADA are not really optimistic. According to the experts at CoinCodex, Cardano’s crypto should stabilize between $0.36 and $0.42 for October. With a maximum increase of 18.8%, reaching $0.455 is still plausible by the end of the month.

But to hope for hitting $0.70, the entire crypto market would need to start dancing, especially if Bitcoin resumes its run. Changelly, on the other hand, envisions a peak at $0.46, provided the stars align for the crypto.

If October remains traditionally favorable for cryptos, it will be necessary to closely monitor BTC’s movements. Because, as we know, when Bitcoin sneezes, ADA catches a cold!

As a reminder, just a month ago, ADA had dropped by 66%. This much more moderate drop might just be the opportunity to reposition on this crypto. Should one seize this chance?