Cardano (Island) experienced a great rise at the weekend and exceeded $ 1. US President Donald Trump’s crypto reserve statement triggered this rise. However, this enthusiasm was short. The island lost 20 %in the last 24 hours and fell below $ 1 again. So, will the fall continue?
What does the harsh fall on the island mean?
Ada attracted great attention after Trump’s statements. However, speculative purchases rapidly replaced by sales pressure. Currently, the island is trading at $ 0.82 and weakening demand is remarkable.
Technical indicators also give signals of decrease. The relative power index of the island (RSI) is preparing to go below 50 levels. This shows that sales pressure has increased and that investors are turning to profit purchase.
Can the island fall to $ 0.60?
The price of the island is about to fall under the 20 -day exponential moving average (EMA). This indicates that short -term momentum is weakened and that the sellers gain strength. If the price goes below this level, the decline for the island may accelerate.
The island is currently trying to find support at $ 0.72. If this support is broken, the price may decrease to $ 0.60. Especially if the sales wave continues throughout the market, larger losses for the island may come to the agenda.
Cardano: What happens if buyers return?
But not everything is finished. If buyers enter the market again, the island may rise to $ 0.94. If this level is exceeded, the price can reach $ 1.32. For this, a new wave of demand in the market needs to be formed. Cardano’s recovery will depend on the recovery of investor confidence. If market sensitivity improves and corporate investors continue to show interest in the island, the possibility of rise may be strengthened. In addition, developments in the Cardano ecosystem can be decisive on the price. New partnerships, network updates and increasing usage areas can increase the interest in the island.
The most important point that investors should pay attention to is whether critical support levels can be protected. If buyers cannot show enough power, a new trend of decline may begin on the island. However, if the market recovers, it is not a surprise that Cardano exceeds $ 1 again. The coming days will play a critical role in determining the direction of the island.
