Cardano At Risk Of Falling 8% If It Doesn’t Hold Above Key Support Line

The Cardano price surged as it broke through a critical resistance trendline on its chart, a few days ago. However, the bullish momentum was short-lived, and ADA has since lost 0.5% of its value on the daily chart. The past week saw a significant depreciation of 14% in ADA’s value, with demand and accumulation both falling.
As Bitcoin retraces on its chart, most altcoins have followed the same price direction. The technical outlook of the altcoin has also sided with the bears.
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