Cardano (ADA) has experienced a significant drop in price, losing a key support level as the broader crypto market faces heavy selling pressure. The market crash on Monday resulted in $1.5 billion in liquidations, and the sell-off continued on Friday, with over $952 million in crypto holdings being liquidated. Cardano has declined for five out of six days and has slipped below the 200-day Simple Moving Average (SMA) for the first time in this bull cycle. The daily RSI indicator suggests that Cardano may be oversold and could see a relief rally. If Cardano fails to reclaim the 200-day SMA, further declines may occur. The price action of Cardano will likely depend on broader market sentiment and Bitcoin's momentum. While ADA holders remain cautious, they are hopeful that the worst of the sell-off may soon be over.



Other News from Today