Cardano Price Analysis
Cardano's price has dropped by 20% and is testing the $0.66 support level, with sellers dominating the market and funding rates turning negative.
A bearish shift in market sentiment and a breakdown below key Exponential Moving Averages (EMAs) have led to increased volatility and selling pressure.
If buyers defend the $0.6671 support zone, ADA could potentially stabilize and retest the $0.70–$0.75 range.
- Cardano's price has dropped by more than 20% in the past 24 hours.
- The token is trading below both its 50-day and 100-day EMAs, indicating a bearish market structure.
- The recent breakout below key EMAs signals a short-term trend reversal.
Cardano has taken a sharp hit in the past 24 hours, with its price dropping by more than 20% as bearish sentiment sweeps across the broader altcoin market.
Author's summary: Cardano's price drops by 20% amid bearish sentiment.