Cardano dropped to a three-month low on Thursday, as sentiment in cryptocurrency markets remained largely bearish. The move comes as traders continue to worry about what the recent Binance and Coinbase lawsuits could mean for the wider market. Solana also slipped to a multi-month low.
Cardano (ADA)
Cardano (ADA) plunged to a three-month low on Thursday, as traders remained nervous, following the recent U.S. Securities and Exchange Commission (SEC) lawsuits.
After a high of $0.3376 on Wednesday, ADA/USD dropped to a bottom at $0.3196 earlier in today’s session.
The drop pushed the token to its lowest level since March 15, when price was at a bottom of $0.3166.
Looking at the chart, this decline came as the relative strength index (RSI) moved deep into oversold territory, falling to a low below 30.00.
The index has since rebounded, and is tracking at 34.21, which is marginally above a key level of resistance at the 33.00 mark.
Should this upward momentum continue, bulls will look to re
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