Urgent News!! Cardano (ADA) is under pressure! Key support is in jeopardy
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According to CoinMarketCap data, although some currencies have turned green, Cardano (ADA) has not yet escaped the shadow of decline, with the current price at $0.8961, a daily drop of about 1%.
Short-term pressure: Support level is precarious
On the hourly chart, ADA shows a clear bearish trend, with the price gradually approaching the $0.8931 support level. If this level is lost, it could trigger further declines, with target areas pointing to $0.88-$0.89.
Larger time frame: Bears are dominant
Yesterday's upward momentum failed to continue, with bullish strength weakening.
If the daily closes below the current price, sellers may regain control of the market, pushing prices to test the $0.85 support area.
Medium-term trend: Downward risks are emerging
If the weekly chart closes without escaping the current price range, ADA may face challenges at the key level of $0.8173 in the coming weeks.
The overall market leans bearish, and close attention should be paid to trading volume and the strength of the downward trend.
Cardano is currently at a critical point; if it cannot hold the support level in the short term, it may trigger a deeper correction. Investors should be wary of potential further downward pressure.
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