The crypto market is experiencing a sharp price decline amid a wave of sell-offs and investor caution. This article examines the key factors influencing current trends.
Overall Crypto Market Status
The broader crypto market is sliding sharply, with most major coins losing ground in the past 24 hours. Heavy liquidations and weaker risk appetite have triggered a wave of selling pressure, erasing recent gains. Investors are closely monitoring macroeconomic conditions, leaving digital assets exposed to further downside volatility.
Inflation in the EU
Fresh data from the EU shows CPI inflation holding steady at 2%, right in line with expectations. While this signals stability on paper, markets reacted with caution. Traders interpret the reading as a sign that the European Central Bank may not accelerate rate cuts, keeping financial conditions tight. This hesitation is weighing heavily on risk assets, including cryptocurrencies.
Cardano Price Analysis (ADA/USD)
Cardano has not been spared from the sell-off. According to the 4H chart, ADA has pulled back toward the $0.84–$0.85 zone, a key support level that will determine the next move. Support Levels: $0.8475 immediate support, $0.8226 (200 SMA) as stronger technical support, $0.7203 as a deeper downside target if bearish momentum continues. Resistance Levels: $0.9073 (50 SMA) is the nearest resistance. A breakout above could retest $0.95–$1.00.
The current state of the crypto market remains unstable, and further price changes will depend on macroeconomic factors and trader sentiment. Cardano needs to defend the $0.82–$0.85 support level to avoid significant downturns.
