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Crypto

Cardano on Thin Ice as It Tests Last Support Level Before $0.14

Guavy AI Editorial Team
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ADA
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Cardano (ADA) is testing its last line of defense before plummeting to $0.14, according to technical analysis.

The cryptocurrency is currently trading at around $0.1618, which marks the 0.236 Fibonacci level.

This is a crucial support level for ADA, and if it fails to hold, the price could drop towards the June low of $0.1386, with no established support in between.

However, Charles Hoskinson, CEO of IOHK, believes that Cardano's RealFi product has the potential to reach $1 billion in total value locked (TVL) within 12 months, which could provide a boost to the ADA price.

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