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Stellar, Dogecoin, and Cardano Encounter Bearish Trends
As the crypto market continues to navigate through a tumultuous period, it appears as though several key cryptocurrencies are encountering bearish trends. The data suggests that Stellar, Dogecoin, and Cardano have all seen significant declines in recent times.
According to the latest CNF report, Cardano’s price has taken a sharp fall, losing over 40% from its November highs. However, it’s worth noting that the ADA price has managed to bounce back, trading above the 0.8656 resistance line. This development suggests that bulls were able to protect the 0.7590 support zone, driving the price higher towards critical resistance.
As of December 30th, Cardano’s price is currently at $0.8698, remaining above the 0.8656 level. Should this level hold, potential targets may be on the horizon.
The chart highlights key levels to watch for each currency:
* Resistance: 0.8656 (Cardano), with further targets at 0.9315 and 0.9784
* Support: If the price action is not maintained above 0.8656, there is a possibility of retracing back down to 0.7590. In this event, 0.6348 would become the next support zone.
It’s essential for investors and traders to keep a close eye on these critical levels as they navigate their portfolios during this challenging market period.
Source: www.crypto-news-flash.com
