Member-only story
Cardano Price Prediction: ADA is set for another 30% drop
Cardano’s price is falling below the monthly S1 and important historical support.
If this critical support level is breached, a 30 percent loss zone may be triggered.
Bulls are expected to wait for the FED meeting later this week before participating in market activity.
Cardano (ADA) price activity is not showing the expected shift in attitude with the start of a new trading week. Geopolitical negotiations about Russia resumed on Monday, and investors are anticipating specifics of the FED’s monetary tightening later this week, making investors a non-participant in the cryptocurrency market for the first few days of the week. As $1.01 is under attack, anticipate a break below to signal the start of the following leg lower towards $0.69, erasing another 30% of the altcoin’s value.
Investors are staying away from Cardano in the run-up to the FED rate announcement
Cardano market players appear to be divided in half, with primarily sellers and bears present, while bulls and investors sit on the sidelines. The main reasons for this are the renewed political rhetoric against Russia after declarations from NATO and the US that additional military materiel and personnel will be sent in. Meanwhile…
