Cardano's Price Slowdown Leaves Room for Deeper Retracement

Cardano's price has slowed down in recent days after reaching a month-old swing high of $0.258.

The altcoin's price dropped by 2.04% in the past 24 hours, but still maintained a 6.89% gain over the week.

The slowdown can be attributed to Bitcoin's retracement towards $84k, which also contributed to Cardano's price dip.

Despite this, Cardano's higher timeframe trend remains bullish, with steady buying pressure indicated by the CMF and OBV at multi-month highs.

However, the double rejection from $0.26 has opened up the possibility of a deeper price retracement, which could potentially drop as deep as the $0.206-$0.219 area.