Cardano (ADA) Faces Further Decline, $0.3389 Support Under Threat
Cardano (ADA) is currently experiencing a downward trend, with its price approaching the crucial support level of $0.3389. The cryptocurrency market has been under significant bearish pressure, and ADA is no exception. This decline is fueled by a mix of macroeconomic factors, market sentiment, and technical indicators pointing to continued weakness. As Cardano nears this critical support level, investors and traders are closely monitoring its performance to determine if it can hold the line or if further declines are imminent. The $0.3389 level is now a key focus for the market,....
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Cardano (ADA) is approaching a critical juncture as it eyes a retest of the key $0.3389 support level. In recent trading sessions, ADA‘s price has previously risen above this level and is currently dropping for a second retest thereby raising concerns among investors and traders. A successful defense of the $0.3389 support could signal a potential reversal and renewed bullish momentum, while a breach below this level may open the door to further declines. This article aims to analyze the significance of the $0.3389 support level for Cardano and whether bullish momentum can hold ADA....
Cardano (ADA) has once more dropped below the crucial $0.3389 support level, sparking fears of an extended bearish phase. This level has previously held strong as a line of defense for ADA, but its recent breach suggests that sellers may be gaining the upper hand. With ADA navigating lower levels, investors are left questioning whether this slip could open the door to a deeper downtrend. As bears tighten their grip, this article aims to analyze the recent decline of ADA below the critical $0.3389 support level and evaluate the likelihood of a deeper downtrend unfolding. By exploring....
Cardano price failed to surpass $0.40 and started another decline. ADA is now trading below $0.3850 and might extend losses in the near term. ADA price started a fresh decline and traded below $0.3880. The price is trading below $0.3850 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could extend losses and test the $0.370 support zone. Cardano Price Dips Again In the past few days, Cardano attempted a recovery wave above the $0.3650 zone like....
The price of Cardano (ADA) has shown bullish signs and could be set for a major run against Tether (USDT) after bouncing from key support. Ethereum price rallied with so much strength from a region of $1,670 to $2,000 ahead of the Ethereum “Merge”. This has brought relief bounces for many altcoins, including the price of Cardano (ADA). Related Reading: Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon “The Merge” is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) so as to increase its network efficiency in....
Cardano TVL has spiraled downward the past few days mainly because of the intensified crypto market correction and decline in investor interest. To date, the crypto has plunged to $120.86 million. With the rate it’s going, Cardano has chucked over $205 million in TVL since its all-time high of $326 million on March 24, 2022. Dubbed to be the eighth largest crypto by market cap, Cardano is said to be the blockchain platform patented for rainmakers and innovators. It’s a POS network that strengthens and provides sustainability to dApps and systems. Suggested Reading | XRP Whales Boost....