Cardano Price Going To $0.25 As New Addresses Drop 48% In 2 Months
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The general slump in cryptocurrency prices has left traders on edge, with top altcoins like Cardano (ADA) remaining significantly suppressed. Cardano's price shows a weaker technical structure compared to the first quarter, when the token hit its yearly peak of $0.81.
Like Bitcoin and Ethereum, Cardano is facing external geopolitical tensions. Over the past two months, the number of new Cardano addresses has dropped by 48%, signaling potential further price declines.
External factors and technical weaknesses suggest that Cardano prices may fall to $0.25. This trend highlights the broader struggles within the crypto market and emphasizes the challenges facing altcoins in the current environment.
The bearish outlook for Cardano is primarily driven by dwindling new addresses and geopolitical influences, similar to challenges faced by major cryptocurrencies like Bitcoin and Ethereum.
Source: coingape.com ↗
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