Cardano struggles in short term, but shows long-term growth

Cardano (ADA) traded at $0.53180 on Wednesday, November 13th, down by $0.04320, or 7.51%, from the previous trading session.

Cardano struggles in short term, but shows long-term growth

The cryptocurrency has been under pressure recently, with a sharp 46.46% decline over the last four weeks. Despite this recent setback, Cardano has experienced significant growth over the past 12 months, rising by 48.55%, highlighting its potential within the broader cryptocurrency market. This long-term growth is driven by ongoing developments in its blockchain technology and increasing interest from investors.

Price forecasts predict Cardano at $0.337 by quarter-end and $0.278 in one year

Trading Economics global macro models and analysts' projections suggest that Cardano may see further declines, with a price target of $0.33693 by the end of this quarter. In the longer term, the forecast indicates an additional drop to $0.27832 in one year, influenced by market dynamics, investor sentiment, and broader economic factors.