Cardano (ADA) Looks To Recover After Sliding To $0.43 – Pressure’s On For The Bulls

Cardano (ADA) price experienced a protracted run along a falling angle formed on June 27, when the price was $0.52. Since then, ADA has retreated gradually to find support at $0.44. Nonetheless, ADA may be slowly returning to the green zone, as its price increased throughout the weekend’s session after plummeting to a low of $0.43 on Friday. Cardano is a decentralized proof-of-stake blockchain platform of the third generation aiming to be a more effective option to proof-of-work networks. Suggested Reading | Ethereum (ETH) Bends Toward $1,000 As Doubt Fills Crypto Markets The token is at a crossroads at this point, and the price might move in any direction. If the bulls can summon enough strength, an upswing to $0.64 is possible, but the support zone around $0.42 to $0.44 might potentially provide some more push for the coin. In the next days, the overall trend will likely benefit the sellers. Unless buyers intervene at the immediate support level, ADA could experience a lengthy dip prior to a robust recovery. Bear Market Pushes ADA To 7-Day Weakness As of this writing, ADA is trading at $0.4507, down 9.5% in the last seven days, data from Coingecko show, Sunday. The broader crypto market continues to exhibit bearish indicators, headed by Bitcoin’s inability to surpass the $20,000 threshold. BTC, the most sought-after cryptocurrency, is currently trading at $19,105, down 11.2% in the past week, according to Co...