Why Cardano (ADA) Price Is Falling Continuously? What’s Next for ADA?

Quick Summary:

Despite a positive move from the SEC, which has declared ADA as not a security, the token is still struggling with strong sell pressure.

Its price has dropped by 50% from its high in March, and it fell even further by 60% before finding some stability in mid-July.

However, this strategy requires caution as prices could continue to drop if the market views ADA as excessively oversold.

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Article Details

Author / Journalist: Mustafa Mulla

Category: Crypto

Markets: United States

Topics: News Altcoins

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 07:15:15 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 376 words

Reading Time: 3 minutes read

Sentences: 38 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 21883305

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About Coinpedia

Main Topics: Crypto

Official Website: coinpedia.org

Update Frequency: 6 posts per day

Year Established: 2016

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

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