Technical indicators of the Cardano price continue to give signals of decrease. The probability of testing the critical support level is strengthened by declining the price further. Can 0.6 dollars be lost in February 2025? The details are as follows…
CARDANO (ADA) price melted double -digit on February 19
The island price has approached a significant support level by experiencing a 10 %decrease in the last two days. In the same period, a decrease of 8.24 %in whale activities was observed. This shows that the confidence of big investors on the market is reduced.
While technical indicators show that the decline tendency continues, the risk of decreasing the island price below $ 0.60 is increasing.
In addition, the last price movements of the island reveal that the market is under pressure. In case the current support level is not preserved, the price is predicted to decline further and fall below $ 0.60 for the first time after months.
The purchase appetite of major investors has decreased. According to Intothheblock data, whale movements fell by 8.24 %in the last 24 hours. Generally, large investors who direct the market show that their interest in the market is reduced by reducing transaction volumes. This may increase the sales pressure and cause the price to decrease further.
Will the island hold at the critical support level?
Cardano’s current price movements, flag formation attracts attention. If the island loses this level of support, large sales orders can be triggered and the price may fall further. Historical data show that such breaks often lead to strong decreases.
On the other hand, the psychological support level of $ 0.60 is seen as a critical threshold for investors. If the island falls below this level, the decreases may be likely to continue.
However, it is still not possible to draw a completely negative picture. If the support level is maintained, the price can attempt to recover by watching horizontal for a while. However, the current market conditions and the decrease in whale activities weaken the likelihood of a rapid recovery. Kriptokoin.comYou can take a look at the current Cardano analyzes with bull expectations.
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