𝑪𝒂𝒓𝒅𝒂𝒏𝒐'𝒔 𝑷𝒓𝒊𝒄𝒆 𝑼𝒏𝒅𝒆𝒓 𝑷𝒓𝒆𝒔𝒔𝒖𝒓𝒆: 𝑾𝒊𝒍𝒍 𝑨𝑫𝑨 𝑭𝒂𝒍𝒍 𝑩𝒆𝒍𝒐𝒘 $0.50?🚨
Cardano $ADA is currently trading around $0.82, facing significant bearish momentum. Recent macroeconomic factors, including a 25 basis point interest rate cut by the Federal Reserve, have contributed to this decline.
Analysts highlight that $ADA must maintain support above $0.87 to sustain bullish momentum. A drop below this level could lead to further declines, potentially testing the $0.50 threshold. On-chain data indicates a lack of significant demand since early December, with sell-offs intensifying post-Fed announcement.
The likelihood of $ADA dropping below $0.50 depends on its ability to find support and attract investor interest amid bearish macroeconomic and on-chain trends. If Cardano's fundamentals, such as network upgrades or partnerships, fail to attract demand, it could struggle to counteract selling pressure.
What are your thoughts on ADA's current trajectory? Do you believe it will rebound or continue its downward trend?
Source: CryptoTicker
