Cardano $ADA Long-Term Lows Broken as Speculative Tension Builds.
Enter your emailADA/USD has taken a turn for the worse regarding its value, as it has broken through long-term lows and is challenging values not seen in one year’s time.As of this writing, ADA/USD is trading slightly above the 97 cents and its fall over this weekend broke below important support barriers.
Cardano is now testing values not seen in one calendar year, meaning it is within a range that is challenging levels not seen since February 2021 when ADA/USD like the broadUnfortunately for ADA/USD, it is not within a bullish trend, it is within a severe bearish mode. Cardano’s current price levels are far below the apex highs ADA/USD achieved in early September of 2021 when it traded near 3.11100000. ADA/USD was able to build off lows seen in January when it spiked lower in correlation with the broad digital asset market and sunk to a low above 93 cents, but this past weekend’s depth actually penetrated those dangerous levels.
If the current price level of ADA/USD falters and the 97 cents level fails to hold short term, and the 96 cents mark is proven vulnerable, another retest of yesterday’s lows could develop. While some analysts are pointing to a correlation between cryptocurrency values and technology equities which are struggling on the NASDAQ, this in fact cannot be proven. The broad cryptocurrency market continues to be hit by nervous selling.ADA/USD is testing lows not seen in one year.
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