CandleFocus Can Cardano (ADA) Stage a Comeback After the 8% Decline?
2025-01-08
Author: Content Editor
The crypto market has lost its bullish momentum and prices have fallen back to previous lows. Bitcoin is trading at $96K and Ethereum at $3.3K. Cardano has experienced a loss of over 8.59% in the past 24 hours, trading at $0.9988. The market has witnessed a $10.16 million ADA liquidation, and the daily trading volume is $2.45 billion. Despite a 16.80% gain in the past seven days, ADA is struggling to overcome bearish sentiment. Technical indicators suggest a potential downtrend or continued selling pressure. Traders are advised to avoid long positions. The price of ADA may retrace to $0.9736 or even lower. However, if ADA surpasses the $1.0124 level, it could rally toward a crucial resistance level of $1.05. This analysis is for informational purposes only and not investment advice.
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