The cryptocurrency market is facing one of its most substantial crashes in recent times. The global crypto market cap has fallen 9.6% in the last 24 hours to $2.53 trillion. Bitcoin (BTC) is trading at levels not seen since November 2024. Solana (SOL) and Cardano (ADA) are also following the downtrend.

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Solana And Cardano Register Massive Losses

SOL hit an all-time high of $293.31 earlier this year in January. The asset’s price has fallen by nearly 66% since its January peak. SOL is currently on the verge of falling below $1000. SOL’s price is down by 15.4% in the daily charts, 19.6% in the weekly charts, 29.4% in the 14-day charts, 27.5% in the monthly charts, and 44.4% since April 2024.

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Cardano (ADA) also follows SOL’s trend. ADA is down 13.2% in the daily charts, 14.1% in the weekly charts, 24.7% in the 14-day charts, 31.7% over the previous month, and 6.7% since April 2024.

Which Will Recover Losses First?

According to CoinCodex, Solana (SOL) will continue to struggle over the coming weeks. The platform anticipates the asset to hit $140.10 on Apr. 28. SOL’s price will rally by nearly 40% if it hits the $140.10 target. CoinCodex does not anticipate SOL’s price to hold above $140. The platform expects a price correction to around $122 by early May.

As for Solana (SOL), CoinCodex does not expect Cardano (ADA) to recover any time soon. The platform anticipates the asset to hit $0.70 on Apr. 28. ADA’s price will rally by 27.27% if it hits the $0.70 target. The platform further anticipates ADA to hit $0.98 on May 17.

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Given the global economic slump, the crypto market may continue to dip. Solana (SOL) and Cardano (ADA) may not rally as predicted by CoinCodex if macroeconomic headwinds continue.