Cardano (ADA) danger is increasing: Could a decline come?

Cardano is trading below a critical level of $ 1 and has lost more than 16 percent in the last seven days. Yesterday's price movements created uncertainty in the market. Even though ADA signaled a recovery from $ 0.93, it could not stay strong. In parallel with Bitcoin's current movement, the market is likely to see a new bottom. Altcoins may be shaken further with a possible decline in BTC.

The current downtrend in Cardano may result in a final bottom, but $ 1 needs to be broken for this to be confirmed. Currently, the ADA price appears to be in a correction process. If a daily close below $ 0.83 comes, selling pressure may increase even more. If a new bottom is formed and the Relative Strength Index (RSI) remains above 20.8-20.9, bullish signals will increase.

Weekly closes above $ 1 will further accelerate Cardano's rise. In addition, the news flow regarding Cardano will be decisive. Higher levels can be targeted with a positive news flow. In addition, sharp increases in major altcoins can affect the Cardano price. For example, major coins such as $XRP , $SOL , and $AVAX have recently come to the fore with their price movements. Cardano started to rise shortly after. If this scenario happens again, expectations from the parity may increase.