Bitcoin was unable to rise after a few weeks of consolidation and eventually broke to the downside. As a result, there was a significant liquidation, and the largest coin by market cap dropped below the important support level of $30,000.
Cardano (ADA), on the other hand, has achieved a solid rebound in the last 24 hours, despite a huge crash. Its price dropped to $0.40 yesterday, where it found support, and it now lies just below the critical resistance level of $0.59.
A well-known crypto trader is forecasting more corrective moves for Cardano, a smart contract platform, and one of the year’s most popular altcoins. Based on Elliott Wave theory, pseudonymous crypto analyst Capo claims that ADA is set for another leg down before completing its five-wave slump.
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Source: https://coinpedia.org/altcoin/cardano-to-drop-heavily-in-coming-week-ada-price-may-plunge-below-0-3-if-bears-hold-strong-position/