The Cardano price has declined steeply over the past trading sessions. The altcoin currently trades within a descending triangle pattern. This means that the coin could be headed for further decline unless it manages to break past a few vital price ceilings.
Over the last 24 hours, ADA declined by 1.3%. In a weekly timeframe, the altcoin price has been hovering around the same range. In recent weeks, the Cardano price has reached new highs. This reading is tied to bullish price action; however, the bulls lost vigor.
It is safe to say that ADA is, at the moment, in a price correction phase. ADA mustn’t lose two of its essential price floors. This would mean that the bears could be taking over. Since the coin currently depicts a descending wedge, it could be possible that ADA might touch its closest support level.
After revisiting the support line, it is likely to bounce back again. The altcoin’s market capitalization has also noted a decline, which corresponds with a fall in the ass
We współpracy z: https://newsbtc.com/news/key-support-line-for-cardano-price-rests-here-as-the-coin-moves-south/
