Cardano

<p><a href="/en/token/ADA">Cardano</a>, often seen trailing the market trends set by <a href="/en/token/BTC">Bitcoin</a>, has experienced a severe crash, losing 17% of its value in just 24 hours. After a week of negative performance totaling a 15.8% drop, the broader implications of Bitcoin's struggles have sharply resonated within the Cardano market, pulling it significantly lower.</p>
<h2 id="strong-why-is-cardano-crashing-strong"><strong>Why is Cardano Crashing?</strong></h2>
<p>The crash in Cardano’s price can primarily be attributed to two major factors. The first and most impactful is the direct consequence of Bitcoin's inability to surpass the critical resistance level of $70,000, leading to a wider market downturn. This event has notably dampened the sentiment across the crypto landscape. The second factor compounding Cardano's woes stems from a wave of panic selling triggered by some analysts' predictions regarding Bitcoin's potential crash post-halving. These analysts have projected a <a href="https://www.forbes.com/sites/digital-assets/2024/04/10/raging-firesale-major-bitcoin-miner-and-legendary-crypto-trader-issue-serious-halving-price-crash-warnings/?sh=7757aa042643">gloomy outlook</a>, spreading fear that reverberated through the markets, heavily impacting altcoins like Cardano.</p>
<h2 id="strong-cardano-price-analysis-ada-crashed-hard-strong"><strong>Cardano Price Analysis: ADA Crashed HARD?</strong></h2>
<p>Currently, <a href="/en/token/ADA">Cardano</a> is trading at $0.48, marking a significant -17% decline over the past 24 hours. Over the last week, the cumulative loss has extended to nearly -15.8%. This sharp decline underscores the heightened volatility and the fragility of market sentiment, particularly for altcoins that often follow Bitcoin's lead.</p>
<p>Cardano price reached the support level around $0.45 and slightly rebounded. However, if the trend continues ADA can see lower targets.</p>
<p><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/ADAUSD_2024_04_12_23_14_29_320b8b8043.png" alt="ADAUSD_2024-04-12_23-14-29.png"></p>
<h2 id="strong-cardano-price-prediction-how-low-will-it-go-strong"><strong>Cardano Price Prediction: How Low Will It Go?</strong></h2>
<p>Given the recent sharp decline and the ongoing bearish trends influenced by Bitcoin's performance and market sentiment, the outlook for Cardano appears challenging. If the market continues to falter, Cardano could see further declines, testing new support levels. Now that the first support of $0.45 was reached, investors should be wary of the next two targets delimited by a price of $0.40 and $0.30 respectively.&nbsp;</p>

Cardano Crash: ADA Down -17%, What's Happening to Cardano?

Table of Contents

CryptoTicker ENG

Other articles published on Apr 12, 2024

Ethereum ETF Nearing Approval on Monday in Hong Kong

Peter Brandt Signals Possible Cardano (ADA) Selloff Before Bullish Rebound

Avalanche (AVAX) Price Prediction April 2024, 2025, 2026, 2030, 2040 – 2050

Tren Kripto Terkini: Peran Polygon, Evaluasi Investasi XRP, dan Inovasi BlockDAG

30X Price Prediction: Solana and Polkadot Devotees Targeting CYBRO for the Next Major Crypto Triu...

Peter Schiff Takes Jab at Bitcoin's Lack of Utility

Join our free newsletter for daily crypto updates!