Cardano (ADA) Drops Below Key Support as Whale Activity and Development Surge 🔻
Cardano (ADA), the 10th-largest cryptocurrency by market cap, is experiencing significant selling pressure. Currently, ADA has dropped by 4.08% within 24 hours to $0.677, reaching an intraday low of $0.6567. It has been following a downward trend since May 26, and if the bearish momentum continues, it could mark its fifth consecutive day of losses.
ADA has fallen below the 50-day simple moving average (SMA) at $0.714, a key technical support level. If ADA fails to reclaim this level, further declines toward the $0.60 zone could be expected, which might attract buying interest.
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