Why did Cardano price drop today?

East ADA correction simply THE result of THE wider crypto walk correction, Or are there other factors behind It is price weakness?
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ADA/USD every day chart. Source: TradingView
Let's go look has THE the reasons Why Cardano has has been trade lower recently.
Extended correction Since overbought terms
From THE technical indicate of see, ADA in progress correction East part of A patch ride a bike that begin In mid-December After ADA hit A 20 months high of $0.68.

Traders reserve profits as ADA relative strength hint (RSI) on every day graphics became overbought After crossing 70.

A ROI while reading above 70 means THE active East become overvalued And can undergo orient yourself reversal Or patch withdrawal.

ADA/USD every day chart. Source: TradingView
ADA East pursue A correction withdrawal, confirmed by It is down movement inside A descending parallel string.

THE relative strength hint (RSI) East positioned has 40, reflecting THE the market situation Or THE bear are In control.
Descending heart developers And trade volume
ADA price drop Since mid-December coincides with A modest drop In THE token trade volume And THE number of heart developers, according to has data Since Token terminal.

ADA every day trade volume against. heart developers. Source: TokenTerminal
Notably, t...

Crypto Jan 20, 2024 0 9 Add to Reading List

East ADA correction simply THE result of THE wider crypto walk correction, Or are there other factors behind It is price weakness?

Altcoin Watch Join We on social networks

Let's go look has THE the reasons Why Cardano has has been trade lower recently.

Extended correction Since overbought terms

From THE technical indicate of see, ADA in progress correction East part of A patch ride a bike that begin In mid-December After ADA hit A 20 months high of $0.68.

Traders reserve profits as ADA relative strength hint (RSI) on every day graphics became overbought After crossing 70.

A ROI while reading above 70 means THE active East become overvalued And can undergo orient yourself reversal Or patch withdrawal.

ADA East pursue A correction withdrawal, confirmed by It is down movement inside A descending parallel string.

THE relative strength hint (RSI) East positioned has 40, reflecting THE the market situation Or THE bear are In control.

Descending heart developers And trade volume

ADA price drop Since mid-December coincides with A modest drop In THE token trade volume And THE number of heart developers, according to has data Since Token terminal.