Cardano Price Prediction: Will ADA Recover After April 2nd Dip?

Cardano’s price has experienced a notable decline following a recent drop of 1.92% on April 2nd, bringing it to a new low below $0.665. This dip comes amid broader market trends, with analysts citing increased bearish sentiment and negative indicators for the cryptocurrency’s future performance. Market participants are anticipating continued price declines as factors such as declining trading volume, weak momentum as indicated by the RSI and MACD, and persistent selling pressure remain in play. The funding rate of Cardano has turned negative, suggesting a dominance of short positions and further market skepticism about ADA’s potential recovery.