Cardano (ADA) Price Analysis: Can It Rebound After a 0.19% Dip?

Cardano (ADA) experienced a slight price dip, trading at $0.9427 on Thursday, down 0.19% from $0.9445. The daily trading volume also dropped by 30.61%, reaching $3.5 billion, signaling a potential trend reversal as market interest wanes amidst macroeconomic factors. Despite this, ADA posted a remarkable 41.18% gain over the last seven days, with a market capitalization of $33.2 billion.

Read Cardano Price Prediction 2025 - 2030 for more detailed insights

The crypto market was recently shaken by former U.S. President Donald Trump’s unexpected endorsement of altcoins, including ADA, as potential U.S. Reserve Assets. This announcement sent ADA soaring by 80%, briefly breaking the $1 barrier and igniting investor enthusiasm.

On March 3, ADA spiked to $1.10 but retraced to $0.94. According to technical analysis, Cardano is consolidating within a right-angled descending broadening wedge. Renowned analyst Ali Martinez suggests that if ADA can break the $1.14 resistance, it could quickly surge to $2.

Whale Accumulation and Network Activity

Whales have played a significant role in ADA’s price action. On-chain data reveals that large investors have accumulated over 420 million ADA tokens since Trump’s announcement. This trend, which started in late 2024, indicates that whales are preparing for a potential breakout. Additionally, Cardano’s network activity has surged, with transactions worth $100,000+ on the rise, signaling renewed investor interest.

Also Read: Compound Price Prediction 2025, 2026 – 2030

Cardano ETF Speculation: A Game Changer?

A major catalyst for ADA's price momentum is the speculation surrounding a potential Cardano ETF. The U.S. SEC’s acknowledgment of Grayscale’s ADA ETF filing has sparked market discussions. If approved, this could drive institutional adoption and potentially push ADA prices to new highs. Historically, ETF approvals have led to exponential growth in crypto assets, making this development a critical factor for ADA’s future.

With strong whale accumulation, increased network activity, and potential ETF approval, Cardano remains a token to watch closely in the coming weeks.