• Cardano’s price has experienced a significant decline, dropping by almost 10% from $0.38 to $0.34 over the last two weeks.
• According to IntoTheBlock, there is a prediction that ADA may drop to around $0.30 in the upcoming days if it breaks below the crucial support level at $0.35.
• Cardano’s decentralized finance (DeFi) sector is gaining momentum as its ADA-backed stablecoin, Jed, unlocks new opportunities within the explosive ecosystem.
Cardano Price Analysis
Over the past two weeks, Cardano’s price has experienced a significant decline due to bearish sentiment that has taken over the overall cryptocurrency market. During this period, there was a notable decrease in the value of Cardano, with the price dropping by almost 10% from $0.38 to $0.34.
ADA Price Poised To Drop Below $0.30
However, the coin gained strength and is now trading at the $0.37 level.
Based on data from IntoTheBlock, there is a prediction that ADA may drop to around $0.30 in the upcoming days if it breaks below the crucial support level at $0.35.
Within that price zone, approximately 127,000 investors who purchased a total of 1.17 billion ADA at an average price of $0