Cardano

<ul>
 <li><strong>If the price manages to go past $0.38 then it will likely retest $0.41 level.&nbsp;</strong></li>
 <li><strong>At the time of writing, ADA is trading at $0.368, down 1.52% in the last 24 hours.</strong></li>
</ul>
<p>Cardano’s (ADA) recent drop in value reflects the overall crypto market’s decline and puts investors’ fortitude to the test.&nbsp; Profit-taking by investors reassessing their holdings in light of the market’s downturn is likely contributing to the current selling pressure.</p>
<p>The Cardano Ballot, announced by Cardano co-founder <a href="https://thenewscrypto.com/hoskinson-confirms-cardano-stake-pools-to-validate-midnight/" target="_blank" rel="noopener noreferrer nofollow">Charles Hoskinson</a>, will be utilized for voting on the Cardano Improvement Proposal CIP-1694. Hoskinson said that the voting process will begin with a snapshot on November 21 and end on December 16.</p>
<p>Users who want to take part in the vote must stake <a href="https://thenewscrypto.com/cardano-price-spikes-as-analyst-predicts-further-gains/" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> (ADA) by November 20. Staking users and other non-hardware wallets will be able to make remarks via a feedback form, while those with hardware wallets may vote at a later date. Results from the poll will be released on December 16. The responses from the poll will be used to define development and governance goals in 2024.</p>
<h3 class="wp-block-heading" id="brief-correction-underway">Brief Correction Underway</h3>
<p>At the time of writing, ADA is trading at $0.368, down 1.52% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 28.53%. Despite the recent slump, ADA is still up by a whopping 48.87% in the last 30 days.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_7D_graph_coinmarketcap-4.png" alt="" class="wp-image-85912" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_7D_graph_coinmarketcap-4.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/11/ADA_7D_graph_coinmarketcap-4-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>After finding support at $0.35, the price rallied all the way till $0.41 on November 16 but was unable to break above and started a downward move. If the price manages to go past $0.38 then it will likely retest $0.41 level. Contrarily, if the price manages to go below the $0.35 support level, then it will likely test the $0.34 mark.</p>

Cardano Witnesses Correction After Failing to Break Above $0.41

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TheNewsCrypto

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