According to U.Today, Cardano has experienced a significant drop to the $0.4 region, reducing its price by over 20%. Despite this decrease, the rise indicates a potential rally through the 200 EMA, challenging the downtrend with limited volatility and indifferent trade volume. Cardano's price action has been fluctuating, with a recent drop to the $0.4 support level and a subsequent rebound. Currently, ADA's value has risen above $0.48, bringing a new wave of inflows into the market.
The decline has not affected the coin’s long-term trend, which remains bearish with a lack of significant volume. This suggests that the market is still seeking a solid direction. However, a surge above the 200 EMA could push the coin back into the bullish zone. If ADA fails, the $0.4 level remains a crucial support point, and its resilience will be key in preventing further declines. If the market-wide recovery continues, a prolonged continuation of the rally is possible.
Shiba Inu has experienced a sharp 30% decline. The token's drop to the $0.00002165 mark has been met with a mix of concern and anticipation. A rebound from this level could indicate a strong support base, potentially pivoting SHIB back into an uptrend. However, trading activity is relatively quiet, indicating a lack of confidence in SHIB at the moment. The RSI suggests that selling pressure has outweighed buys on the market, pushing the token's value down. SHIB's first significant test will be at the $0.00002880 level. If it can surpass this, the price could rise towards $0.00003.
Ethereum has made a strong comeback, comfortably returning above the $3,000 threshold. This suggests that Ethereum could continue its upward trajectory despite this minor setback. After the dip that shook the market, the price action has been positive, reclaiming the $3,000 mark with conviction. This level now forms a solid base of support, solidifying the current price range. As the price began to rise, the volume started to increase, indicating a lot of interest in the market. This increase in trading, coupled with the clear increase in price, has strengthened the upward trend. However, the recent surge of volatility in the market should not be ignored, and it is important to avoid any risky moves that might significantly impact your portfolio.
