Cardano remained under pressure and decreased below the levels of support for key keys, since the sale of crypto.
Token Cardano (ADA) fell to a minimum of $ 0.70 on Sunday, decreasing by more than 47% from the highest level in December last year.
Its reduction reflected the deterioration of other altcoins. For example, Polkado (DOT) fell to $ 4.75, decreasing by more than 60% from the highest level in December. Similarly, Chainlink (Link) fell by 40% from maximums in December.
The Cardano accident also occurred when a sense of fear spread in the crypto industry. The following crypto, the following, and the greed index fell into a 35 fear zone, a sign that investors remain aside.
The ecosystem of Cardano also does not work. DEFI LLAMA data show that the total value blocked in its defemes system fell to $ 350 million, which makes it less than blockchain networks, such as Mantle, Cronos, Circus and Brachain.
It is noteworthy that Cardano has a small share of the market in the Stublek industry, since its market capitalization has transferred to $ 22.48 million. This is significantly smaller than the market share of other chains such as Tron, Ethereum and Blese Protocol.
The Cardano network also does not earn enough money. The data show that the income of the ecosystem application was only $ 1236, which is a small figure for a crypto network worth more than $ 30 billion. Cardano has only 25,460 active addresses.
Cardano forecast
The daily diagram shows that the price of ADA has remained under pressure over the past few months, moving from $ 1.3268 in November to $ 0.70 today. It fell below important support levels, including 50% of the Fibonacci recovery point of $ 0.80.
Cardano also fell below the 200.7230 dollars in the level of 0.7230. The loss of the 200em level is often considered as a large red flag in technical analysis. In addition, the coin rose below the key support at 0.7610 US dollars, the lowest swing in December and the neckline is twice by $ 1.630. Double version is a very popular bear reversal sign.
Thus, the price of Kardano can remain under pressure, with the next paragraph, to observe the minimum last week at $ 0.5597. Such a step will be 20% with an accident from the current level.
The bear will become invalid if the price rises above the resistance point at 0.7610 US dollars.
