Just like most cryptocurrencies in the market, Cardano (ADA) is still in a vicious bearish circle. Things intensified after the bears broke the $0.1500 demand territory pushing Cardona (ADA) down even more. The bulls were able to gather some momentum and push the price to $0.14059 but they lost steam, and the bears returned.
Cardano (ADA) Struggles in the Vicious Bearish Trend
The bearish momentum in the market to the south went all the way to the $0.12126 demand territory. The cryptocurrency had tested this demand area earlier in March. The Weekly candle stick was also more bearish this week than last week. It opened at $0.1382 this week while it opened at $0.1618 last week indicating that the sellers are putting a lot of pressure on the market.
Cardano (ADA) Price Today / USD
At the time of writing, Cardano (ADA) was trading at $0.12441 and it may be experience pullbacks during the week. A pullback during the week is confirmation that the downward trend isn’t ending yet. The price of the coin may test $0.10000 if the bears continue to dominate the market.
Why is Cardano (ADA) Falling?
According to Azeez M from Bitcoinexchange, Cardano’s South movement is not limited to the coin. Almost every coin in the industry is being affected by the general bearish trend. Even if the price of Cardano is falling now, the long term forecast show the the cryptocurrency will rise and again and the price will skyrocket when it’s time. The Cardano team is working hard to make this happen.
Those who own the coin should hold on to it because an upward correction will come with full force when it’s time. Those who are considering buying have the best opportunity to buy now when the prices are low. If the future prediction comes true, then you’ll be happy you have Cardano in your cryptocurrency wallet.