CandleFocus

Cardano Price Falls Under $1: Sellers Target $0.94

Author: Content Editor
Cardano (ADA) has fallen below the $1 mark, experiencing a 12.39% drop in the past 24 hours. This decline, combined with broader market declines, suggests a potential bearish trend. The price is currently retesting the 100-EMA line at $0.991, which is acting as support and guiding the price in a sideways direction. Technical indicators indicate a neutral stance despite the short-term downturn. The current price action leaves Cardano at a crossroads just below the $1 psychological level, with potential resistance at the 20-EMA line at $1.044 and the $1.117 level. However, increased volatility in the market adds uncertainty to ADA's price trajectory. A V-shaped recovery could target resistance levels, while a bearish continuation could aim for support levels such as the 200-EMA at $0.968 and the $0.94 horizontal level.

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