Cardano (ADA) has once more dropped below the crucial $0.3389 support level, sparking fears of an extended bearish phase. This level has previously held strong as a line of defense for ADA, but its recent breach suggests that sellers may be gaining the upper hand. With ADA navigating lower levels, investors are left questioning whether this slip could open the door to a deeper downtrend. As bears tighten their grip, this article aims to analyze the recent decline of ADA below the critical $0.3389 support level and evaluate the likelihood of a deeper downtrend unfolding. By exploring technical signals and market dynamics, this piece will provide readers with a clear understanding of ADA’s current position, potential risks, and paths forward in the face of mounting bearish pressure. Technical Analysis: Is ADA Set For Further Slide? On the 4-hour chart, ADA has recently broken below the $0.3389 mark, with its price now exhibiting strong bearish momentum as it trades beneath the 100-day Simple Moving Average (SMA). This positioning under the SMA is a key indicator of a possible pr ..
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