Cardano Regains Bullish Momentum: Key Support at $1.3010
ADA/USD closed at $1.3320 after placing a high of $1.4373 and a low of $1.3270. Cardano dropped for another session on Wednesday & extended
- The value of Cardano has plummeted from 1.3906 to 1.3017 level. ADA/USD is currently trading at the $1.3017.
- The market continued to follow in the footsteps of BTC and ETH, which were declining on Wednesday.
- A prediction by Arcade Research added a negative impression on Cardano’s token ADA and dragged its prices to the downside.
This prediction by Arcade Research added a negative impression on Cardano’s token ADA and dragged its prices to the downside.
However, the losses were capped by the latest comments from Cardano’s CEO, Charles Hoskinson. The CEO talked about the potential of DeFi and Cardano’s small role within the industry. According to Hoskinson, there was a need for collaboration and friendliness within the DeFi industry. He further said that the only thing holding us back was us.
Meanwhile, the market continued to follow in the footsteps of BTC and ETH, which were declining on Wednesday. The two leading cryptos have been falling for many days amid the prevailing selling pressure and turned the whole market mood to the downside, which the ADA also followed.
Daily Technical Levels
Cardano (ADA/USD) Technical Outlook: 50 EMA to Extend Resistance
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