• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Cardano Loses $1 Support: Risks Falling to $0.55

user avatar

by Giorgi Kostiuk

a year ago

In recent months, Cardano has shown a similar trend to Bitcoin, consolidating around the $1 mark. However, if Bitcoin continues to correct, ADA may underperform.

USDT Paired Chart

On the USDT paired chart, ADA has been consolidating around the $1 mark after failing at the $1.3 resistance level. Currently, the price is dropping again towards the $0.75 support level and may break it to target the 200-day moving average, located around the $0.55 mark.

BTC Paired Chart

The ADA/BTC chart presents a similar picture. The price has been consolidating for months, but a breakdown of the 900 SAT level could lead to further decline towards the 200-day moving average, around the 700 SAT mark and even lower. Therefore, if the overall trend in the crypto market and Bitcoin remains bearish, ADA is likely to enter a declining phase.

Cardano's Cryptocurrency Outlook

If current trends in the cryptocurrency market persist in upcoming weeks, Cardano might face significant challenges. This is due to the critical support level at $1, which is essential to prevent further price drop.

Overall, the outlook for ADA remains negative if Bitcoin continues to decline.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Price Surge Triggers Major Liquidations in Derivatives Market

chest

The recent price uplift of Bitcoin has resulted in significant liquidations within the derivatives market, with over 200 million in liquidations primarily affecting short positions.

user avatarMiguel Rodriguez

Altcoin Market Cap Stabilizes After Correction

chest

The total crypto market cap for altcoins is attempting to stabilize after a prolonged corrective phase, indicating potential accumulation.

user avatarLuis Flores

Potential Shift in Altcoin Market Dynamics

chest

Recent analysis indicates a significant increase in altcoin trading volume, suggesting a potential end to Bitcoin's dominance.

user avatarArif Mukhtar

Ethereum Price Analysis: Stability and Potential Decline

chest

Ethereum price shows signs of stability above 2,320 but faces potential decline if it falls below 2,300.

user avatarMaria Gutierrez

Aave Faces Major Crisis Amid Exploit of rsETH Bridge

chest

Aave is facing a major crisis due to an exploit at Kelp DAO, resulting in the theft of approximately $292 million in tokens and a significant drop in total value locked and AAVE token price.

user avatarDavid Robinson

Regulatory Warnings Highlight Risks of BG Wealth Sharing Scam

chest

Regulatory bodies warned about BG Wealth Sharing, identifying it as a likely scam before its collapse.

user avatarAndrew Smith

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.