Cardano faces potential 40% drop as crossing

Cardano price knocked down over 51% of its highest level in November last year, and techniques indicate the added side.

Cardano (Ada) He traded on Sunday in the amount of $ 0.646, bringing his market hat to over $ 22.7 billion.

The recent decline is mainly in line with the performance of other Christians. It is top comparable tokens such as Solana (Salt), Binance coins (Bnb) and avalanches (Avaq), everyone went to the bear market.

Cardano navigation by the Cross of Death

There is a risk that the price Ada will continue down in the next few weeks as near the shuffle of death. Death products when 200-day and 50-day exponentially moves crossing each other, while they turned down.

In the case of Cardano, the spread between the two moving average is narrowed in the last few months. The 200-day MA is $ 0.729, while 50 days from $ 0.736. The width stood over 20% a few weeks ago.

The cross of death often leads to a significant falling decline. For example, the last time Cardano price formed this form was in May last year, and the coin fell by over 40%.

The opposite of the death cross is known as the golden cross. Cardano formed this cross in November last year, leading to almost 200% price price.

Worse, Cardano also formed a descending channel, which contains a number of larger and lower high and lower high. She also formed a form for the head and shoulders, a popular bear sign of continuation.

Therefore, if the death sample is fully formed, coins are likely to continue to fall in the next few days. If this happens, the next potential goal will be $ 0.515, its lowest level in February this year.

Ada is facing great basic challenges

Cardano price is also facing some great basic challenges. It is most visible to his ecosystem dwarf of other blocks. The total value locked in the network is discarded to $ 314 million.

In contrast, the second recently launched chains with much smaller markets, such as Berachain, Sonic, Sii, and SEA have much bigger property in their definitions. Berachain has over 2.97 billion dollars, while SUI has $ 1.2 billion.

It is also with Cardan’s stemlecoin, a significant figure, because all transactions in the blockchain industry are conducted in these tokens. Cardano has only $ 30 million in Stablecoin compared to Berachain’s $ 1.3 billion and Sonic $ 576 million.

Furthermore, some of the most anticipated cardalysted catalysts did not happen. For example, her Integration with bitcoinos, Which was announced in October last year, was not launched. It is also unclear whether so much expected meeting between Cardano founder Charles Hoskinson and VIP His outcomes also happened.

While the potential ADA ETF is a positive catalyst, the liquid outflows of the ETF indicate that investors are largely interested in the merged Bitcoin assets.