Cardano (ADA) has experienced a significant decline in price, with an 18% decrease over the past three months. This has caused concern among investors and led to discussions within the cryptocurrency community. The overall pessimistic attitude in the cryptocurrency market has been a primary cause of ADA's downfall. The inability to hold major support levels and dropping below important moving averages has increased fears of a prolonged bear market for Cardano. Some community members have expressed conflicting opinions about recent changes in the macroeconomic landscape. Technical analysis suggests that Cardano is nearing oversold territory and is close to a significant support line. If ADA fails to maintain this level, it may face further downward pressure, with the next major support level being in the $0-$30 range.



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