Cardano Price Drops 10.28% as Market Cap Falls Below $1 Trillion
The total crypto market cap, excluding Bitcoin and Ethereum, has fallen below $1 trillion, leading to significant pressure on altcoins. Cardano (ADA) has experienced a decline of 10.28% in the past 24 hours, dropping below the psychological threshold of $1.
Key Points
- Analyst Ali Martinez identifies a buy signal for Cardano using the TD Sequential indicator.
- Current ADA price is $0.885, testing support at $0.844.
- Cardano's price trend shows bearish candles and a potential retest of the 100 EMA line.
- Increased transactions on the Cardano network from 10.09K to 14.09K over the weekend.
- Unique active wallets have decreased from 3.84K to 2.82K in the past week.
A closing price below $0.844 may lead to a retest of the 200 EMA at $0.711. A recovery above $1 is crucial for restoring bullish sentiment.