Cardano Breaks Down Again, ADA Price May Slide Down to $1 Following the Downtrend!
While the entire crypto folks believed the market would end the yearly trade on a bullish note, the Crypto space is leaving no stone unturned to make the climax breathtaking. Just a couple of hours before, during the previous day’s trade, almost all the assets were strongly heading towards the next resistance. Yet with the beginning of the fresh day trade, the altcoins including Cardano(ADA) price broke down through their levels.
The asset since the beginning of the present trading month went parabolic, visiting the lower levels. After hovering around the important levels at $1.46 for nearly 3 days, the ADA price finally made a huge move to break through the $1.5 levels.
Woefully, the bears appear to be not happy with the jump as they quickly jumped in and squeezed the rally. Currently, the ADA price is yet again swinging on the same levels. Moreover, the possibility of the asset forming lower lows to reach crucial support at $1.01.
Cardano (ADA) Downtrend Saga Continues
The crypto space currently is completely bearish as Bitcoin price has slid below $50K yet again. With a huge drop, the many assets are facing extreme drain since the early trading hours and may continue until the beginning of the US trade. One can expect a slight flip from the bearish divergence with the beginning of the US trading hours.Source