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Cardano Ecosystem

Coinfomania

03/13/2024

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Cardano Risk Drop to $0.65 as Solana Zooms Past $160

Cardano gained a lot of attention in past week as it saw notable changes that led many to believe that the sleeping giant finally woke up. Following gains of more than of almost 10% on the first day of the month, many asked if the uptrend will continue or end soon. It is hard to […]

Cardano Risk Drop to $0.65 as Solana Zooms Past $160

Cardano gained a lot of attention in past week as it saw notable changes that led many to believe that the sleeping giant finally woke up. Following gains of more than of almost 10% on the first day of the month, many asked if the uptrend will continue or end soon.

It is hard to say what happened as the days leading up to the time of writing were filled with a lot of volatility. However, during this period, several trend were constant. One such was that the asset stayed below $0.75 for an extended period. In the event of breakout, it failed to flip $0.80 and held the $0.70 support as well.

This meant the coin continued to trade withing the $0.80 and $0.70 channel with a few breakout as a result of price decreases. Due to the coin remaining in this pattern for a long period, it is safe to conclude that it gradually lost momentum.

A look at its weekly performance also showed that during the previous week, it failed to register any notable change in worth. Nonetheless, it returned to a level it hasn’t visited in more than a year.

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