Cardano continues to struggle, trading below the psychological level of $1.00. Despite Bitcoin’s bullish prospects, ADA shows a downward trend, raising investor concerns.
Cardano Investor Sentiment
Investor sentiment around Cardano remains bearish, as realized losses hit a two-month high. This indicates a waning confidence as sellers exit positions at a loss. Such losses often lead to a pause in market activity as investors reassess their strategies.
Price Prediction: Support or Recovery?
Currently, Cardano is trading at $0.95, down 10% over the last 24 hours. The support level at $0.99 remains under pressure. If bearish momentum continues, ADA could fall to $0.85, a level it almost reached in the previous session. However, rebounding above $0.99 may lay the foundation for recovery, enabling an attempt to reclaim the $1.13 resistance.
Conclusion
Despite attempts to recover, Cardano remains under pressure, trading below key levels. Rising above $0.99 may restore investor confidence, but overcoming $1.13 resistance requires considerable effort. With $0.85 support still in focus, concerns of further decline persist.
The Cardano market remains under pressure, and future direction will depend on its ability to regain lost ground. Investors should closely monitor market developments.
