Cardano (ADA) has experienced a significant drop in price in the past month and two weeks, with its market cap falling to $27 billion. Technical indicators, such as the rising ADX and bearish Ichimoku Cloud setup, suggest that ADA's current downtrend is strengthening. The rising ADX indicates that bearish pressure is intensifying, making a reversal less likely unless there is a significant increase in buying activity. The Ichimoku Cloud setup confirms the strong bearish trend, with the price trading well below the cloud and selling pressure likely to continue. ADA is currently facing resistance at $0.78 and support at $0.519, and breaking below the support could accelerate the decline. However, if the broader altcoin market starts recovering, ADA could attempt to reclaim $0.78 and potentially reach $1. This would require a significant increase in buying pressure.



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