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Stellar, Dogecoin, and Cardano Encounter Bearish Trends
As the cryptocurrency market continues to experience volatility, three prominent cryptocurrencies, namely Stellar (XLM), Dogecoin (DOGE), and Cardano (ADA), have found themselves in a bearish trend. According to a recent report by CNF, it appears that the bears are gaining control.
The article highlights the 40% loss that ADA experienced, plummeting from its November highs. Despite this sharp decline, the cryptocurrency managed to bounce back and is now trading above the crucial resistance line of $0.8656. However, the bears may not be done yet, as the recent data suggests a continuation of the bearish trend.
In the case of XLM, the price has also been under pressure, leading to a significant drop. It is essential for investors and traders to keep an eye on key levels like $0.3000 and $0.3525 to determine potential targets.
DOGE has not been immune to the market’s bearish sentiment either. The cryptocurrency’s price action has led to a decline in value, with the support zone at $0.3203 and $0.3616 being critical to monitor for potential targets.
As we move into the new year, it is essential to remain cautious of the current trend and focus on key levels that could provide crucial guidance for investors and traders alike.
Source: www.crypto-news-flash.com
