Can Cardano overcome its 11% drop?

There is no doubt that the tensions between Iran and Israel have shaken more than one sector, and the crypto market has not escaped it. Cardano (ADA), in turmoil, saw its price plunge suddenly. Investors are wondering: after an 11% fall in 48 hours, will ADA manage to rebound or continue to sink? Here is the outlook for the altcoin.

A glimmer of hope for Cardano crypto investors

Cardano is said to be champion when it comes to trading activity due to the recent surges. However, the price of ADA crypto suffered an impressive drop of 11% in the space of 48 hours, once again failing to cross the $0.40 mark. A fall that leaves altcoin at $0.35jeopardizing the profitability of some 3.31 billion ADA tokens, an estimated value of more than a billion dollars.

However, all is not doom and gloom for investors. If Cardano manages to defend its support level at $0.34a return to the $0.37 zone is possible, and profitability could once again be there.

• 3.31 billion tokens at risk;
• $1.1 billion worth at stake;
• Crucial support at $0.34.

The key to the rebound? Investor mindset. As we often say: “ Emotions drive as much as algorithms. »

If Cardano wins back hearts, the machine could regain momentum.

The ADA Price: a race towards $0.70 in October?

The price predictions for ADA are not exactly looking good. According to CoinCodex experts, Cardano crypto expected to stabilize between $0.36 and $0.42 for the month of October. With a maximum increase of 18.8%, reaching $0.455 remains plausible by the end of the month.

But to hope touch $0.70the entire crypto market should start dancing, especially if Bitcoin restarts its run. Changelly, for his part, sees a peak at $0.46, provided the stars align for the crypto.

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

As a reminder, just a month ago, ADA had fallen 66%. This drop, much more moderate, could well be an opportunity to reposition yourself on this crypto. Should we take this chance?