- News and analysis
- Cardano is Ready to Drop Towards $0.25
Cardano is Ready to Drop Towards $0.25
Cardano is pressured by the U.S. Securities and Exchange Commission (SEC) after the watchdog filed a lawsuit against Coinbase. This initiated a sell-off of ADA that has lost 42% as its prices fell to $0.21 per coin. The U.S. district court decision in favor of Ripple in July pushed ADA prices up by 32% to $0.37.
SEC said it is going to increase legal pressure on crypto assets as it is going to appeal this court decision on Ripple. This may provide further reasons for other crypto assets that were targeted by SEC to deteriorate.
Crypto whales understand this perspective, and were selling Cardano since the beginning of august with the total volume of $30 million. ADA prices dived below $0.30 support and are now going to test it as a resistance. In case of a successful test Cardano prices may fall further down to $0.25.
The comments, insights, and reviews posted in this section are solely the opinions and perspectives of authors and do not represent the views or endorsements of RHC Investments or its administrators, except if explicitly indicated. RHC Investments provides a platform for users to share their thoughts on financial market news, investing strategies, and related topics. However, we do not guarantee the accuracy, completeness, or reliability of any user-generated content.
Investment Risks and Advice:
Please be aware that all investment decisions involve risks, and the information shared on metadoro.com should not be considered as financial advice. Always conduct thorough research, seek professional advice, and exercise caution when making investment decisions.
Moderation and Monitoring:
While we strive to maintain a respectful and informative environment, we cannot endorse or verify the accuracy of all user-generated content. We reserve the right to moderate, edit, or remove any comments or posts that violate our community guidelines, infringe on intellectual property rights, or contain harmful content.
By submitting content to metadoro.com, users grant RHC Investments a non-exclusive, royalty-free license to use, display, and distribute the content. Users are responsible for ensuring they have the necessary rights to share the content they post.
To maintain a positive and respectful community, users are expected to adhere to the community guidelines of Metadoro. Any content that is misleading, offensive, or violates applicable laws and regulations will be subject to moderation or removal.
Changes to Disclaimer:
We reserve the right to update, modify, or amend this disclaimer at any time. Users are encouraged to review this disclaimer periodically to stay informed about any changes.