Cardano Could Drop to $0.18 After Three Consecutive Bearish Closes
Photo: The Crypto Basic
Cardano faces further downside risks after recording three consecutive bearish daily closes, with its price hovering just above the critical $0.2000 support level. Popular trader and analyst Zen Trades has warned that Cardano could extend its decline after breaking below a rising trendline and key moving averages, weakening its technical structure. According to his chart, ADA trades around $0.2034, below its 50-day EMA at $0.2240 and its 200-day EMA at $0.2434. Additionally, Cardano has lost the rising trendline that previously supported its recovery, with the breakdown occurring near $0.2398.
Source: The Crypto Basic
