Technical Analysis: $ADA, $SHIB, $LINK, #SUI, #HBAR, #AVAX,#FLOKIare under intense pressure 📉
The cryptocurrency market is under intense selling pressure, with prominent coins such as ADA, SHIB, LINK, and AVAX seeing sharp declines. ADA (Cardano) is currently trading at $0.9906, reflecting a loss of 7.76%, as bearish sentiment grips the altcoin. SHIB (Shiba Inu) dropped further to $0.00002446, down 8.87%, as meme coin traders unloaded their positions amid broader market uncertainty. LINK (Chainlink) saw a significant decline of 8.47%, settling around $25.60, unable to sustain its recent upward momentum as selling pressure mounted. SUI, on the other hand, faced a more moderate decline of 4.80%, trading at $4.41, indicating relative resilience compared to its peers.
Losses also extended to HBAR, down 1.84% at $0.28525, showing a slight but steady decline. Meanwhile, AVAX (Avalanche) took a bigger hit, falling 9.86% to $44.24, as market volatility dented confidence in layer-one projects. Finally, FLOKI recorded the biggest decline of the bunch, falling 12.55% to $0.00019522, as speculative sentiment faded. Traders should remain cautious as the overall market is showing clear signs of instability. Key support levels for these coins should hold to prevent further declines, while short-term rallies could provide trading opportunities for those who keep a close eye on volume and price action. Stay vigilant and trade with disciplined strategies to weather the current market turmoil