Cardano Joins The Red Screen – How ADA Fell To $0.45 Over Last 24 Hours

Cardano (ADA) is all flushed today as it plunged by 6% compared to yesterday’s high of $0.53. While it remains to hover above the 50-day moving average, ADA may drop further down by $0.45 in the next 24 hours as the bears take control of the market. ADA has a fantastic weekend as it glided way up to $0.52 on July 24. However, the coin slid to $0.48 as a result of the issues involved in the Vasil upgrade. ADA bulls are trying to touch the $0.55 resistance level hoping to make a grand comeback but if it plummets to $0.45, then bulls would need to try harder. Suggested Reading | Cardano (ADA) Spikes 8%, Overtakes XRP In Last 24 Hours Cardano Bearish Movement Similar To Bitcoin’s Bitcoin movement has capsized similarly to Cardano’s bearish movement. Bitcoin has currently plunged below the $22,000 zone showing a drop of 4%. More so, Ethereum also dropped by 5% or $1,500 in price. All other major altcoins also plummeted in price. Dogecoin dipped to $0.06, Ripple plunged to $0.34, Polkadot lost 5%, and Solana slid further down by 6%. As seen in the recent 24-hour candlestick chart, Cardano’s price is forming the Evening Star pattern. It has rallied over the weekend hovering at $0.53 but ADA succumbed to the bears and registered a low price point as depicted in the past 48 hours. While the price looks favorable and is on top of the 50-day moving average, it has somewhat slipped into a dangerous coma at $0.493. Cardano RSI h...