Cardano (ADA) has experienced a 15% decline in price over the past seven days after reaching its highest levels since 2022. The ADX indicator suggests that bearish momentum is growing, indicating increased selling pressure. Furthermore, there has been a decline in whale activity, potentially indicating reduced confidence or profit-taking. The decline in whale holdings may lead to increased selling pressure unless new buyers enter the market. The EMA lines also suggest the potential for a stronger correction, with a potential "death cross" formation signaling sustained downward momentum. The immediate support level for ADA is $0.95, with further declines possible to $0.65 or even $0.519. However, if buying momentum strengthens, ADA could challenge resistance at $1.03 and potentially see further gains.



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