Urgent news! ! Cardano (ADA) faces a test! Key support is at risk
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According to CoinMarketCap data, although some currencies have turned green, Cardano (ADA) has not escaped the shadow of decline. The current price is $0.8961, with a daily decline of about 1%.
Short-term pressure: support is at risk
In the hourly chart, ADA shows a clear bearish trend, and the price is gradually approaching the $0.8931 support level. If this level is lost, it may trigger further declines, and the target area will point to $0.88-$0.89.
Larger time frame: shorts dominate
Yesterday's upward momentum failed to continue, and the bulls are weak.
If the daily line closes below the current price, sellers may take control of the market again and push the price to test the $0.85 area support.
Medium-term trend: Downside risks emerge
If the weekly chart fails to break out of the current price range, ADA may face challenges at the key level of $0.8173 in the coming weeks.
The overall market bias is bearish, and the trading volume and the strength of the downtrend need to be closely monitored.
Cardano is currently at a critical point. If it fails to hold the support level in the short term, it may trigger a deeper correction. Investors need to be alert to possible further downward pressure.
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