{"id":538770,"date":"2023-06-20T18:30:14","date_gmt":"2023-06-20T18:30:14","guid":{"rendered":"https:\/\/uniquehot.com\/?p=538770"},"modified":"2023-06-20T15:14:30","modified_gmt":"2023-06-20T15:14:30","slug":"cardano-poised-for-consolidation-in-this-price-zone-prior-to-attempting-reversal","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-poised-for-consolidation-in-this-price-zone-prior-to-attempting-reversal\/","title":{"rendered":"Cardano Poised For Consolidation In This Price Zone Prior To Attempting Reversal"},"content":{"rendered":"
After losing the crucial $0.34 price support, Cardano (ADA) has experienced a significant downtrend. In the past 24 hours, ADA has declined by 1.6%. On the weekly chart, ADA has struggled to recover from an over 8% depreciation.<\/p>\n
The technical outlook indicates that bears have control of the price, with low demand and accumulation. Although ADA has started rebounding from the $0.20 level, a strong bullish influence has yet to be observed.<\/p>\n
If buying strength does not recover in the upcoming trading sessions, ADA may break below its immediate support line. The volatility of Bitcoin makes it challenging for other altcoins to stabilize their prices.<\/p>\n