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**Cardano (ADA) Price Prediction for March 8**
The price of Cardano’s ADA token has taken a significant hit today, plummeting by a whopping 6% in just one day. As we examine the current market trends and technical indicators, it appears that the bears are in control at this point.
On the hourly chart, the price of ADA is currently trapped within a local channel, with resistance at $0.8392 and support at $0.7931. If bulls fail to regain the ground above the interim mark of $0.82, we may see a decline towards the $0.80 range.
However, on a bigger time frame, the situation looks even more bearish than before. With buyers unable to sustain their gains after the initial surge, it’s likely that the correction will continue, potentially all the way down to the $0.60 area if the weekly candle closes near current prices or lower.
At the time of writing, ADA is trading at $0.8173.
It’s essential for traders and investors alike to stay vigilant and adjust their strategies accordingly in response to these market fluctuations.
Source: https://u.today/cardano-ada-price-prediction-for-march-8-0
