Why is Cardano price down today?

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Coin Telegraph 1d ago

Why is Cardano price down today? - Coin Telegraph

Quick Summary:

Buyer exhaustion hampers ADA priceData from Cointelegraph Markets Pro and TradingView shows ADA’s rally on March 2 pushed the relative strength index (RSI) above 70 in multiple timeframes, indicating “overbought” conditions. On March 2, ADA’s RSI reached as high as 90, 84 and 73 on the four-hour, 12-hour and daily timeframes, respectively.

Key takeaways:Market leader Bitcoin (BTC) has shed over 3.6% and 17% over the last week and month, respectively, setting a new four-month low of around $76,600 on March 10. BTC price has since recovered above $81,000 but is still down 1.3% over the last 24 hours.

Related: Price analysis 3/10: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PIThe second area of interest lies between the Feb.3 low at $0.5569 and the range low at $0.5197 reached on Nov.13. This demand zone could potentially provide a good entry position for late investors. This article does not contain investment advice or recommendations.