Massive Supply Barrier Is Keeping Cardano Prices From Breaking Out

Greed among crypto investors has triggered a market-wide correction, liquidating more than 34,000 traders in the past 24 hours. And unfortunately for ADA holders, Cardano looks no different.

Cardano Prepares for Another Leg Down

Many cryptocurrencies, including Cardano, took a major hit after the new weekly trading session began.

Since today’s open, ADA dropped more than 5%, trading at $0.107 to a low of $0.101.

Despite the significant losses incurred, the TD sequential indicators estimate that ADA has more room to go down.

This technical index presented a sell signal in the form of a green nine candlestick on the 3-day chart. The bearish formation estimates a one to four 3-day candlesticks correction before the uptrend resumes.

If validated, ADA may drop towards the setup trendline at $0.09. Read More

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