Cardano’s ADA Rebounds After Drop Amid Trump-Musk Economic Feud
Cardano’s ADA token experienced sharp price swings this week as market volatility intensified during a public spat between President Donald Trump and former government official Elon Musk over the state of the U.S. economy.
ADA plunged from $0.688 to $0.621—a drop of over 10%—before finding solid support. The token has since recovered, forming an ascending channel with overhead resistance near $0.644, according to CoinDesk Research. As of the latest data, ADA is trading at $0.66, down 1.8% on the day, while the broader CoinDesk 20 Index is off by 1%.
The rebound comes as several institutional developments bolster the Cardano ecosystem:
- Franklin Templeton, with $1.6 trillion in assets, is now operating Cardano validator nodes.
- Norwegian exchange NBX is building Bitcoin-native DeFi solutions on Cardano.
- The network completed its first Bitcoin-to-Cardano Ordinals transaction, potentially unlocking $1.5 trillion in cross-chain value.
Technical Snapshot:
- Initial 10.29% drop triggered by macro pressure and high-volume liquidation
- Support established at $0.620–$0.623; recovery followed
- ADA reclaimed $0.640, signaling bullish momentum as volatility declined
- Resistance at $0.643–$0.644 remains key for continuation
Cardano’s mix of technical resilience and growing institutional traction positions ADA as one of the few tokens navigating current market turbulence with upward potential.
