Cardano has experienced a 3.35% drop over the past 24 hours, bringing its seven-day return to negative 8.61%. Currently trading at $0.964, Cardano failed to hold above the $1 mark and its market cap stands at $33.90 billion. The coin's price action on the daily chart suggests a decline below $1, completing a double-top reversal pattern. If the bearish trend continues, Cardano may test the $0.90 support level and potentially the $0.8365 support level. The daily RSI indicates increased selling pressure. However, if the broader market recovers, Cardano's key resistance levels would be $1 and $1.05. Currently maintaining a higher-low formation, Cardano has the potential for a bullish reversal and could form an ascending triangle pattern. But if it drops below $0.90, the bullish outlook will be invalidated and further declines could push the price towards $0.70.



Other News from Today