Many anticipated the cryptocurrency market to rally after Donald Trump’s inauguration on Jan. 20, 2025. Despite the high hopes, the market did not react much. Many assets instead faced a correction as Trump did not mention anything about the crypto industry in his speech. Cardano (ADA) followed the trend, facing a significant correction.
ADA is down 9.5% in the daily charts and 11.3% in the 14-day charts. Despite the dip, the asset has maintained some gains in the other time frames. ADA is up 1.5% in the weekly charts, 9.1% over the previous month, and 89.3% since January 2024.
Cardano Predicted To Rally 169% To $2.61
According to CoinCodex, ADA will enter another bullish phase in early February 2025. The platform anticipates the asset to reclaim the $1 mark on Feb. 3, 2025. CoinCodex predicts the asset will hit $2.61 on April 15, 2025. Hitting $2.61 from current price levels will entail a rally of about 169%. ADA has not traded above $2 since November 2021, more than three years ago.
Changelly presents a bearish outlook for Cardano (ADA). The platform anticipates the asset will dip over the next few months. According to Changelly, ADA could hit an average price of $1.46 in April 2025. Reaching $1.46 from current price levels will translate to a rally of about 50.52%. Although Changelly’s prediction is higher than current prices, it is still short of the $2 mark.
The cryptocurrency market may face another correction over the next few weeks. The Federal Reserve’s hawkish monetary policy could present a significant barrier to ADA and other assets.
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