Cardano – Analyzing how $0.667 could dictate ADA’s next move

Cardano Price Analysis

Cardano's price has dropped by 20% and is testing the $0.66 support level, with sellers dominating and funding rates turning negative.

A bearish shift in market sentiment and a breakdown below key Exponential Moving Averages (EMAs) has led to increased volatility and selling pressure.

Key Support Zone

If buyers defend the $0.6671 support zone, ADA could potentially stabilize and retest the $0.70–$0.75 range.

Cardano[ADA] has taken a sharp hit in the past 24 hours, with its price dropping by more than 20% as bearish sentiment sweeps across the broader altcoin market.

The recent breakout below key EMAs signals a short-term trend reversal after weeks of range-bound consolidation and a steady bullish run.

Author's summary: Cardano's price drop is driven by bearish sentiment.

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