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Following the conclusion of the Cardano 
$0.662672 Summit in Dubai, predictions emerged indicating a potential drop of up to 30% in the price of ADA. During the summit, discussions focused on Cardano’s role in creating a more secure and functional blockchain ecosystem. Crypto analyst Skinny highlighted that ADA has not yet reached its lowest points against Bitcoin (BTC) 
$103,047 or Tether (USDT), suggesting the possibility of a further decline in ADA’s price to around $0.23 based on technical data.
Market Activity Decline: What Awaits ADA Holders?
Although ADA’s price saw a slight increase of 0.4% in the last 24 hours, it recorded a weekly decrease of 8.9%. Furthermore, ADA’s 24-hour trading volume decreased by 14%, indicating weakened market activity and declining investor expectations for ADA’s future. Santiment data also points to a drop in ADA’s social volume, and diminishing public interest may predict a potential price decline. Additionally, Coinglass Liquidation Map data reveals that short positions in the market outnumber long positions by nearly four times, demonstrating a negative outlook among investors regarding ADA’s price.
Uncertainty Between Technical Analysis and Community Support
The Cardano community continues to maintain its support for the platform, with some analysts arguing that ADA’s price could reach $3 and even $14-$16 in the long term. However, current market data shows that the existing support level hovers around $0.31, with significant resistance points at $0.37 and $0.41. While analysts suggest that a bullish market could commence if ADA surpasses the $0.41 resistance, investor behavior and weak on-chain metrics signal a downward price trend.
Charles Hoskinson, the founder of Cardano, remains optimistic about ADA potentially surpassing Bitcoin and Ethereum 
$2,578 in the long run. Nevertheless, analysts maintain a cautious stance regarding ADA’s future. The trajectory of Cardano continues to be shaped by market dynamics and investor expectations, making it crucial for investors to closely monitor price movements.
