{"id":537010,"date":"2023-06-08T17:00:03","date_gmt":"2023-06-08T17:00:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=537010"},"modified":"2023-06-08T13:01:33","modified_gmt":"2023-06-08T13:01:33","slug":"cardano-price-threatens-multi-month-low-unless-bulls-defend-this-support","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/cardano\/cardano-price-threatens-multi-month-low-unless-bulls-defend-this-support\/","title":{"rendered":"Cardano Price Threatens Multi-Month Low Unless Bulls Defend This Support"},"content":{"rendered":"
The Cardano (ADA) price experienced a decline, breaking below the $0.33 level. This downward movement has resulted in bears gaining control of the market. ADA has lost around 4% of its value in the past 24 hours and has seen a weekly plunge of approximately 10%.<\/p>\n
The technical outlook for ADA indicates a bearish intent for the altcoin. Demand and accumulation have significantly decreased on the chart, reflecting a lack of buying interest. The overall market sentiment has remained negative, with Bitcoin also exhibiting volatility. Most other altcoins have followed a similar downward trend.<\/p>\n
For ADA to initiate a recovery, it would require renewed buying interest in the upcoming trading sessions. Otherwise, there is a possibility that ADA may reach a multi-month low. The recent news of the SEC suing Coinbase and Binance US has had a notable impact on market sentiment, fueling further selling pressure.<\/p>\n