Cardano the next big Crypto fall to 0.37Cardano is another Crypto that is falling flat due to the tariff implementation.
And we can expect it to do so as long as price remains below 20 and 200MA>
Here are some reasons why we can expect a continued downside.
Escalating Trade Tensions: President Donald Trump's recent tariff announcements have intensified global trade disputes, leading to a broader market sell-off affecting cryptocurrencies like ADA.
Investor Shift to Bitcoin: Amid market volatility, investors are gravitating towards Bitcoin, perceived as a 'blue-chip' crypto, resulting in decreased demand for altcoins such as Cardano.
Whale Sell-Offs: Large holders have sold approximately 120 million ADA tokens recently, exerting additional downward pressure on the price.
And in technical news, the charts agree with major downside to come.
MAJOR M Formation
Price<20 and 200
Target $0.37
Let's see if Crypto is going to endure this Crypto Depression.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
