Cardano Sinks Below Key Support With Oversold Zone Near

ADA has broken below the ascending channel that carried its summer recovery. Both major moving averages now sit above the price as resistance. A daily close under the 0.618 Fibonacci level opens the way to the next support zone. The Cardano Foundation joined Switzerland’s CMTA after its token standard won recognition for tokenized shares. Cardano (ADA) is trading at $0.1922 after losing 5.69% over the past week and slipping beneath the 0.618 Fibonacci retracement at $0.1941, the last major support left after the token fell out of its rising summer channel.

Source: Crypto News Flash