Cardano

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<a href="https://u.today/cardano-ada-price-prediction-for-october-1" rel="noopener noreferrer nofollow">Cardano</a> has recently experienced a sharp decline in price, leading to widespread discussions within the cryptocurrency's community. According to recent charts and community posts, there has been a nearly 18% decrease in ADA over the previous three <a href="https://x.com/cardano_whale/status/1841768797868589380" rel="noopener noreferrer nofollow">months</a>.&nbsp;
This has alarmed investors who have described the current state of affairs as brutal price action. A primary cause of <a href="https://u.today/cardano-ada-nears-historic-100-million-transactions-milestone-details" rel="noopener noreferrer nofollow">ADA's</a> downfall is the overall pessimistic attitude that has affected the cryptocurrency market as a whole. ADA has had difficulty holding onto its major support levels, as seen on the charts, and has dropped below important moving averages like the 100 and 200 EMAs.&nbsp; <img alt="ADAUSDT" data-entity-type="file" data-entity-uuid="fefde6b1-df4c-4004-89d1-85f50343d6ef" src="https://u.today/sites/default/files/inline-images/image_1270.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">Cardano/USDT Chart by TradingView</a>
The inability to hold these levels has further fueled fears of a prolonged bear market for Cardano. About this pricing action, the community has not kept quiet.&nbsp;
Similar opinions have been expressed by other community members. One person pointed out that although it might be difficult to stay optimistic at this time there, might be a chance to increase investment amounts. In a larger sense, some community members have voiced conflicting opinions regarding recent changes in the macroeconomic landscape, such as rate reductions.&nbsp;
In a subsequent tweet, a <a href="https://u.today/another-developer-left-cardano-what-happens-with-ada" rel="noopener noreferrer nofollow">Cardano</a> whale noted that rate reductions might not be sufficient to buck the trend, especially in an unstable and cash-strapped environment. This feeling is supported by the technical analysis, which shows that the RSI is getting close to oversold territory and that Cardano is perilously close to a significant support line.
ADA may come under more downward pressure if it is unable to maintain this level. The next major support level is in the $0-$30 range, and a break there could make things much worse.

Massive Cardano (ADA) Price Drop: Community Speaks Out

U_Today

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