📉 Bitcoin plummets! ADA strikes back!?

With the drastic decline of Bitcoin, the cryptocurrency market has experienced severe volatility.

The price of Cardano (ADA) has also been affected, falling below the support level of 1 dollar, currently at a critical moment.

Against the backdrop of BTC dropping below 100,000 dollars, the market sentiment for ADA appears particularly bearish. Analysts point out that ADA is struggling to maintain upward momentum, showing signs of weakness. However, the significant outflow of ADA and the decrease in whale investors have raised concerns about support levels in the market.

ADA has already re-tested the key support level of 0.80 dollars, and if it can stay above this level, it is expected to rise 40% in the coming days, reaching 1.23 dollars.

Ongoing bearish pressure may cause ADA's price to drop to 0.7 dollars or even 0.5 dollars.

If market sentiment improves, ADA is expected to re-test the 1 dollar mark and challenge the resistance level of 1.10 dollars.

Technical indicators show that the current bearish momentum is weakening, which may be a signal of reversal.