Cardano (ADA) pared a big portion of the weekly losses incurred during this week’s crypto market rout.
ADA’s price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% rally.
The top ten crypto assets’ recovery in the past 24 hours. Source: Messari
But the sharp ADA recovery does not promise an extended upward continuation, at least according to the three factors discussed below.
Stock market crash far from over
First, the price action in the Cardano and similar crypto-assets has been in lockstep with U.S. equities, especially tech