3 reasons why Cardano can sink further despite ADA price bouncing 58% By Cointelegraph


3 reasons why Cardano can sink further despite ADA price bouncing 58%

Cardano (ADA) pared a big portion of the weekly losses incurred during this week’s crypto market rout.

ADA’s price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% rally.

The top ten crypto assets’ recovery in the past 24 hours. Source: Messari
The correlation between Cardano and . Source: TradingView
two-day price chart featuring bearish Elliott Wave setup. Source: Capo of Crypto/TradingView
ADA/USD daily price chart. Source: TradingView