Cardano

<ul> 
 <li>Cardano’s (ADA) price was unable to capitalise on last week’s advances and fell.</li> 
 <li>In the last week, ADA has fallen 12.70% in value and broke a crucial threshold of $0.3444.</li> 
</ul> 
The founder of the Cardano blockchain, <a href="https://thenewscrypto.com/charles-hoskinson-highlights-cardanos-potential-with-hydra-and-leios/" target="_blank" rel="noreferrer noopener">Charles Hoskinson</a>, has declared his intention to establish a decentralized social media platform in Brazil. X, formerly known as Twitter, and the country’s judicial system are increasingly at odds, prompting this action. The X platform was recently prohibited in Brazil as a result of many court challenges. 
Unfortunately, Cardano’s (ADA) price was unable to capitalise on last week’s advances and fell, erasing most of those gains. The asset’s price had made a strong recovery last week. 
<h3 class="wp-block-heading" id="h-bears-in-control">Bears in Control</h3> 
Investors who were banking on last week’s price increase may be disappointed to see ADA’s price fall this week. What makes it stand out is that it occurs hours before a crucial Cardano blockchain event, a hard fork dubbed Chang. 
In the last week, <a href="https://thenewscrypto.com/cardano-fails-to-break-out-of-bullish-descending-wedge-whats-next-for-ada/" target="_blank" rel="noreferrer noopener">ADA</a> has fallen 12.70% in value and broke a crucial threshold of $0.3444. This key price range for ADA has many times served as support and resistance for the prominent crypto, and this level indicates the bottom edge of that range.&nbsp; 
Even if its price has been declining as of late, Cardano is still very much a part of the cryptocurrency industry and has a portion of the total crypto market value. At the time of writing, ADA is trading at $0.3389, down 2.69% in the last 24 hours. Moreover, the trading volume is down 13.61%. 
If the price continues to decline and falls below $0.33 support level, then it will likely test $0.30 level. However, if the price manages to cross above $0.35 then it will likely test $0.36 level. Breaking above this level will likely see price testing $0.40 resistance level.

Cardano (ADA) Price Declines Ahead of Anticipated Chang Hard Fork

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