Cardano (ADA) price falls by 5% to $0.70 amidst geopolitical tensions.

Cardano, the popular cryptocurrency, faced a 5% drop in value, falling to $0.70, as geopolitical tensions weighed heavy on the crypto markets. The decline in price was not isolated to Cardano, as the larger market experienced a 2% dip, bringing the total market cap below $2.75 billion.

One of the primary drivers of Cardano’s price decrease was the uncertainty in global economics and the looming threat of reciprocal tariffs due to President Trump’s plans to impose them on US trading partners in April. Central banks, including the Federal Reserve, the Bank of England, and the Bank of Japan, opted to maintain interest rates unchanged during their recent meetings, citing growing geopolitical tensions and the potential inflation sparked by trade disputes among global economic powerhouses.

The events unfolding on the global stage, such as Israel’s bombing of Gaza and Ukrainian attacks on a Russian military airfield, further contributed to the existing unease in the market. With fear of trade wars escalating due to Trump’s tariff plans, the atmosphere became even more uncertain, resulting in a downtrend for Cardano’s price.

Amidst these geopolitical risks, Cardano faced additional challenges within the crypto market itself. Fears, uncertainties, and doubts (FUD) alongside liquidity flight have maintained a bearish momentum since early February, overshadowing any positive developments like Cardano’s integration of Bitcoin into its Lace wallet.

Technically, Cardano is in a bearish position, with indicators like the MACD in negative territory and the RSI experiencing a bearish reversal. While ADA managed to maintain support at $0.70, a breach of this level could lead to a further decline towards the next support level around $0.57. The overall outlook remains cautious, with investors closely monitoring the situation to gauge Cardano’s next move in response to the ongoing geopolitical tensions and market uncertainties.

For those interested in investing in ADA, reputable cryptocurrency exchanges like eToro, Coinbase, or Uphold provide a convenient platform to purchase and trade ADA securely. As the market continues to navigate through geopolitical challenges and ongoing uncertainties, investors need to stay informed and vigilant in their cryptocurrency investment decisions.